By Moses Nosike

Carz4Elite, a subsidiary of Elite Atlantic Auto that imports fairly used cars like Mercedes, Lexus, Toyota brands, Hyundai motors  from the US now partner Fina Trust Microfinance Bank to grant loan facility for brand new, tokunbo and used cars. The loan facilities are for both salary earners, businessmen and women etc.

Speaking during the press conference, the Managing Director/CEO, Carz4Elite, Fure Ukueku said, “We have been in the business since 2013 and we source the cars directly from the US. We have representatives in the US who test the cars before we import. One of the things we do is to do diagnostic scan on the car. Every car in the US has data already which can be accessed anywhere in the world. Also, we ask for car fact report which contains every information about cars as long as it is in the US – if it is involved in a car accident, etc. We also do a video evidence to drive the car before we import from US”.

He further said that we have representatives in 8 coastal states to ensure that the cars arrive on time. “Once here in Nigeria, we give advisory to our customers so that they can have durable use of the car. So far, we have not had one car returned after purchase. All our customers are satisfied”.

According to Ukueku, we are here to announce a surprise package for our clients in this Ember months with our partner, Fina Trust Microfinance Bank. We understand that some our clients would like to buy cars in this period for Christmas but because of the economic situation of the country, it is difficult for them to pay at once for their choice of cars, so Carz4Elite and its partner decided that if a client wants to buy a car and he or she is able to deposit 30%  with the Fina Trust Microfinance Bank will finance the 70% and the client will start off-setting the balance instalmentally.

Speaking on how Fina Trust Microfinance Bank will ensure that the partnership is successful, the Head of Product of Fina Trust MFB, Mr. Buddhika Rathnayaka said, “We are looking at how you will pay the loan without hazard. We are expecting repeat business not one-off business”.

However, for eligibility, “we require basic documentation and how you can get maximum of 24 months to pay back for Tokunbo cars and 36 months for brand new cars. After you assess the car you want from Carz4Elite, you come to us to process the loan. When you pay the 30% of the loan, you will be able to get the car within 3 days, after you must have opened an account with us for about N20,000. On the interest rate, you will pay maximum of 3% but also the more you loan, the less the interest. Like I told you, we want repeat customers, we are trying to build relationship. Everyone can access this loan. We don’t have any additional collateral, we want you to show a good credit history”.

Furthermore, Rathnayaka said that Fina Trust is a subsidiary of LOLC group Sri Lanka which is the world leading multi currency microfinance platform on the pedigree and credibility of Finatrust based in Sri Lanka. LOLC operates in 17 countries including Nigeria, Zambia, Rwanda, Ghana, Tanzania, Malawi, Zimbabwe, DRC, India, Egypt in African continent.

In the same vein, the Business Development Manager, Carz4Elite, Mr. Nasamu Martins said, “For quality, we are first. We tell the customers to follow the specifications to the letter. We don’t compromise quality. People shouldn’t be scared about our name. We are not only for high networth individuals.

The Nigerian government auto policy is still in the works and you know this regime is already rounding up. But we are ready, take advantage of our services rather than wait for the government.”