Stanbic IBTC Partners PAN To Make New Cars Affordable For Nigerians

Stanbic IBTC Bank is set to help many Nigerians acquire new vehicles as it has signed a Finance Lease Agreement with PAN Nigeria Limited, makers of Peugeot brand of vehicles.

The new scheme according to the bank, will allow the seamless and convinient acquisition of Peugeot range of products by customers. Applicants are expected to make an equity contribution starting from as low as 10 per cent of the total value of the vehicle to be leased, and payment period can last for as long as 60 months or five years.

The Finance Lease Agreement includes other benfits such as tax reduction, competitive interest rates, comprehensive insurance policy at lower rates, low equity contribution, among others.

Mr Obinnia Abajue, Executive Director, Personal and business banking, Stanbic IBTC, who spoke at the launch of the partnership in Lagos, said the agreement will ensure that customers as well as interested Nigerians have access to vehicles of their choice at a competitive rate and convenient payment terms.

Nigeria Bulletin

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