Peugeot, FCMB partner to ease vehicle acquisitions

Peugeot Automobile Nigeria (PAN) and First City Monument Bank Limited (FCMB) Limited have launched an auto finance and acquisition scheme to ease vehicle ownership.

The partnership makes it possible for Nigerians who desire to own any of the latest brands of Peugeot cars to have it without hassles.

The development is part of efforts of the bank to help individuals, (including the self-employed) and employees of organisations, corporate bodies and institutions within the public and private sectors, become car owners in convenient manner.

Under the scheme, unveiled yesterday in Abuja, qualified customers of the bank will be able to own a brand new Peugeot for as low as N80,367.68 under a monthly repayment plan of up to five years.

The new generation Peugeot brands on offer with varied monthly instalment payments are the 301 ranges (Access, Active, Allure PRS, LXP); the 308 models (Allure Executive and Allure PRS); the 3008 (Active and Active LXP); 4008 and 508 (Active and Access).

Speaking at the launch, Lukman Mustapha, regional director, Abuja and North of FCMB, said the partnership was a value-added consumer loan offering aimed at expanding the scope of vehicle ownership in the country.

“We have designed this scheme to enhance the lifestyle of our existing and potential customers through discounted pricing, flexible repayment and other benefits associated with it,” he said.

Ibrahim Boyi, managing director/chief executive, PAN, said the automaker was excited to partner FCMB to make acquisition of vehicles easier for Nigerians.

‘”This is a partnership between two notable and viable brands. The auto finance scheme offers new evolutions of Peugeot cars that are durable, provides safety, comfort and fully adapted to Africa’s climate,” he said.

While advising potential beneficiaries of the scheme to live within their means and, “avoid abusing the credit facility which the bank will provide to them,” Boyi expressed optimism that, ‘’many Nigerians will take advantage of this opportunity to become car owners.”

Also speaking on the partnership, Olu Akanmu, FCMB’s divisional head, retail banking, said apart from the flexible and convenient repayment plans, “the scheme offers many more benefits. Among these are free vehicle registrations and tracking, three-year extended vehicle maintenance service, discounted insurance premium and discounted interest rate.”