Polaris Bank, CIG Motors seal auto financing deal

Polaris Bank’s Executive Director, Lagos Business, Segun Opeke, and CIG Motors Chairman, Diana Chen, showing off the deal.

Polaris Bank and CIG Motors have sealed an auto financing agreement that will enable Nigerians to acquire brand new vehicles at affordable prices under an “Easy Buy” scheme.

Under the terms, prospective customers are entitled to a zero per cent interest freeze between 6-12 months on the GAC Motors models from the date of funds disbursement, free comprehensive insurance for the first year, free vehicle registration, and five years’ warranty, among other benefits.

Speaking at a joint press conference in Lagos, Polaris Bank’s Executive Director, Lagos Business, Segun Opeke, who signed the Easy Buy scheme on behalf of the lender, expressed delight at the partnership, saying it will make the purchase of brand new vehicles seamless for Nigerians.

“We appreciate the management of CIG Motors for this partnership, as we reiterate that Polaris Bank Easy Buy Scheme offers the most valuable and seamless auto finance opportunity for those who wish to acquire and own brand new cars effortlessly,” Opeke said.

Explaining further, Polaris Bank’s Group Head, Products and Market Development, Mrs. Adebimpe Ihekuna, said: “The Easy Buy scheme is a seamless plan for desiring customers – Individual and SMEs, leveraging our technology capability. The processing time is swift, and less than 24 hours.”

Ihekuna noted that the ‘Easy Buy’ scheme is aimed to give Polaris Bank customers the opportunity to secure low-interest bank credit for the procurement of a hugely-discounted CIG Motors’ GAC range of vehicles.

“You can now walk into any Polaris Bank branch to apply for credit to buy your choice GAC cars and thereafter, pay conveniently,” she added.

Easy Buy Scheme offers the most valuable and seamless auto finance opportunity for those who wish to acquire and own brand new cars effortlessly.

Commenting, CIG Motors Chairman, Diana Chen, said the Easy Buy is open to all Nigerians across the country, and urged them to seize the opportunity of the scheme to acquire brand new vehicles from the motor company.

Chen said the scheme was launched because “we want more and more people to buy new cars in Nigeria, and this will benefit the owners, the industry and the country.”

On his part, the General Manager, Sales, CIG Motors, Jibril Arogundade, said: “The partnership with Polaris Bank is in line with our strategy and direction of making vehicle acquisition a seamless experience for Nigerians, and essentially to assist prospective customers to buy brand new vehicles.

“The Polaris Bank/CIG Motors partnership is intended to ease vehicle acquisition and assist customers to take advantage of the offer. What we are simply doing is to help prospective buyers eliminate the burden of sourcing funds in one fell-swoop to buy a new car.”

The agreement was brokered to ease the challenges associated with securing low-interest bank credit to acquire choice cars, and the Easy Buy scheme has a convenient monthly repayment tenor of up to 60 months.

The ‘Easy Buy’ auto scheme offer which is applicable to GAC models includes; GA4, GS3, GN8, GS4 and GS8 models and can be accessed in all CIG Motors accredited dealers nationwide.

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