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By Moses Akaigwe
Coscharis Motors Plc is collaborating with Sterling Bank towards making its sundry vehicles available to customers through the bank’s Non-Interest Banking Division platform – AltDrive.
Abiona Babarinde, General Manager, Marketing and Corporate Communications, Coscharis Group, explained that the objective is to ease vehicle ownership via e-commerce transaction which can be self-funded or financed by the bank.
Babarinde stated that the partnership provides an online retail marketplace that gives customers one-stop boutique to access and purchase any vehicular brand sold by Coscharis Motors either through self-funding or credit finance from Sterling Bank.
The General Manager further explained, “The primary objective of this collaboration is to provide our customers an e-commerce platform with a credible Financial Institution like Sterling Bank as an extension of our showrooms where they can access our robust brand portfolio which includes iconic brands like Ford, Renault, BMW, Jaguar and Land Rover at a go on one hand.
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“On the other hand, the partnership offers a vehicle finance scheme, which is 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”
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, in addition to delivering “customer satisfaction given the bank’s friendly interest rate, ease of accessibility, quick turnaround time for credit processing at the bank and availability of myriads auto brands.”
Babarinde gave more insight into the partnership, “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 disclosed that in addition to the financial scheme Coscharis Motors equally delivers complementary vehicle registration, insurance and vehicle maintenance packages from two to five years.
