Nigerian auto giant, Coscharis Motors Plc has partnered Sterling Bank on on-boarding its vehicles on the bank’s Non-Interest Banking Division platform- AltDrive to ease ownership via e-commerce transaction which can be self-funded or financed by the bank.
This was disclosed by Coscharis Group General Manager, Marketing and Corporate Communications Abiona Babarinde, who noted that the idea would provide customers an online retail marketplace to access and purchase any vehicular brand sold by Coscharis Motors either through self-funding or credit finance from Sterling Bank.
According to him, the partnership is a vehicle finance scheme aimed at empowering retail and fleet buyers to purchase their choice vehicles from any Coscharis Motors outlet nationwide through a repayment plan with Sterling Bank, TheNation writes.
According to him, the scheme will allow a repayment pattern spread over a period of five years with the option of a 15 per cent to 30 per cent down payment.
“We took this strategic decision earlier in the year to collaborate with relevant stakeholder partners to be able to give our numerous discerning customers and prospects alike the soft landing of owning any of our vehicles with ease in terms of providing friendly financial schemes. We started this initiative with one of our sister companies in the group, Coscharis Mobility representing Sixth in Nigeria amongst some other financial institutions while others are in the pipeline to come on board. This ultimately gives anyone the capability to purchase any of our brands with a more convenient payment terms with any of our partners like the Sterling Bank,” he said.