PAN Signs MoU With FCMB On Vehicle Financing

The Peugeot Automobile Nigeria (PAN) has signed a Memorandum of Understanding (MoU) with the First City Monument Bank (FCMB) on a vehicle acquisition scheme.

Managing director, PAN, Ibrahim Boyi, who said this yesterday in Abuja, disclosed that the arrangement with FCMB marked the fifth with a banking institution, explaining that the latest arrangement is very flexible more so that the total ownership cost is a lot cheaper than any other auto brand in the market.

Under the scheme, all customers with their salary accounts domiciled at FCMB need only to make a down payment of as low as 20 per cent or N80, 367, while self-employed customers with active accounts with FCMB are also qualified to apply and make a down payment of as low as 40 per cent, adding that there is also room for those who do not have an account with the bank to participate in the scheme.

According to him, those who enlist in the scheme would enjoy the benefits attached to it like free vehicle registration, free vehicle tracking, discounted interest rate, discounted insurance premium, extended vehicle warranty, insurance included in monthly repayment, cash flow- based repayment plan, no hidden fees and free LG Touchscreen CD & Bluetooth Hi-fi System for 308 model and above.

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