Hyundai Motors Nigeria Limited in collaboration with the Access Bank Group have new vehicle finance scheme that could help prospecting customers to procure affordably priced brand new Hyundai vehicles and commence payment after three months. Headlined ‘Buy now, pay later’, the initiative aims at encouraging patrons to buy new Hyundai vehicles instead of used cars.

From left: Mr. Victor Etuokwu, Executive Director, Personal Banking, Access Bank PLC, Mr. Parvir Singh, Managing Director, Hyundai Motors Nigeria Limited with Amaechi Okobi, Group Head, Strategic Brand Management, Access Bank PLC at the signing of MOU for Hyundai-Access ‘Buy now, Pay Later’ auto finance at the Hyundai Motors Nigeria corporate office Victoria Island, Lagos.

Both institutions inked this declaration at a brief ceremony in Lagos, where Access Bank and Hyundai Motors Nigeria enumerated the benefits of the scheme that would enable customers take possession of the vehicle upon contribution of 10% equity only.

Access Bank PLC Executive Director, Personal Banking, Victor Etuokwu who made this remark after signing the Memorandum of Understanding said:

“We have brought together two Nigeria most powerful brands, Access Bank – a tier one banking group and Hyundai Motors Nigeria, a member of Stallion Group and a foremost automobile dealerships to give Nigerians opportunity to own brand new cars at affordable rates via a liberalised process.”

Etuokwu said the Access Bank/Hyundai Motors auto finance is unlike others designed for individual patrons and employees who earn a living to buy choice Hyundai vehicles without necessarily committing their life time savings.

He listed other benefits of the scheme which can also be accessed by fleet operators and institutions as: unrestricted admittance to select Hyundai range; discounted pricing with unprecedented low and fixed interest rate throughout the tenor; waiver of commitment fee; three months moratorium for principal and interest payment; free vehicle registration and free service for one year or 20, 000km.

The Access bank director said these significant incentives is intended to encourage patrons to buy functional brand new vehicles. Explaining that buying a brand new car isn’t luxury, Etuokwu said: “It is only a part of your tool to work efficiently.”

In his remark after putting his signature on paper, Hyundai Motors Nigeria Limited Managing Director Parvir Singh had in his comment said: “We will continue to invest in new marketing initiatives that can endear Hyundai vehicles to customers and help them drive responsibly, and of course, we are convinced this programme will attract perceptive customers and subsequently raise our market share.”

Singh who enjoined customers to take advantage of this marketing adjunct said: “You can be part of this bonanza by simply walking into any Hyundai Motors Nigeria Limited accredited dealership in Nigeria to get a profoma invoice for your choice car and a deal is struck with Access Bank PLC thereafter,” he said.