Peugeot Automobile Nigeria (PAN) is targeting low and medium income earners with loans to enable them purchase Peugeot cars and repay in instalments.

To solidify the move, PAN, which is a leading automobile company in Nigeria, signed a Memorandum of Understanding (MoU) on auto loan alliance with the First City Monument Bank (FCMB) in Abuja last week.

The loan alliance will enable Nigerians who wish to buy Peugeot cars to do so on loan and repay monthly for the maximum of 60 months.

PAN Managing Director Ibrahim Boyi, told his audience that Peugeot cars are a heritage of Nigerians as some of the cars purchased 30 years ago still ply the roads.

“You can’t take Peugeot off the roads. Some cars produced 30 years ago still ply the roads in Nigeria. This is the quality; this is the heritage we are preaching,” he said.

Stressing comfort, safety, quality and reliability of the cars as attested to by users over the years, he said the auto loan scheme was designed in partnership with the FCMB to give low income and medium income earners the opportunity to own brand new cars.

“We offer yet another opportunity with the FCMB for our prospective customers to relive the legacy, heritage and experience of Peugeot cars,” Boyi said.

He revealed that the loan facility is accessible at any FCMB branch or any accredited PAN dealer upon meeting the required criteria.

“Our cars today are better. They are modern to meet the developments in the markets,” he told the gathering.

The representative of the Group Managing Director of the FCMB, who is also the Regional Director, Abuja and North, Olajire Awofisibe, said the loan is an opportunity for Nigerians to own brand new cars instead of buying ‘tokumbo’ cars.

He said the bank has so far granted over 400,000 Nigerians loans to empower themselves.

He said the partnership with PAN is another move from the bank to better the lives of Nigerians who are yearning to own cars of their own.

Encouraging Nigerians to key into the arrangement, he added that there are other repayment plans depending on the model of the vehicle desired and the cash flow of the customer.

He revealed that the offer includes free vehicle registration, free tracking, three years free maintenance service and discounted free insurance premium.

“Instead of buying fairly used motor vehicles, why don’t you go for new ones at even a better price?’’ he asked.

 

Source: The Nation Nigeria