Sterling Bank partners Dana on new auto finance deals

Sterling Bank Plc has signed an agreement with Dana Motors to launch an Auto Finance Scheme, which would empower customers of the commercial bank to purchase their choice of KIA brands from any Dana outlet nationwide and make payment by installments.

Both parties said that the auto finance campaign arrangement was part of 90 days promo, which commenced on July 29, 2015.

The Head, Consumer Banking, Sterling Bank, Gbenga Adegoke, said Dana has always been known for providing quality services especially regarding provision of Kia vehicles in the country.

He said we have entered into partner with Dana, and not just to provide an auto finance scheme or product, but a preposition with value to customers and end users.

“We considered the impact of inflation on the scheme and made sure that the interest rate is very low. The partnership with Dana Motors was borne out of the bank’s desire to provide auto consumers with an auto finance scheme that allows them to acquire Kia brands of vehicles with ease,” he said.

Adegoke said that the scheme includes prepayment of insurance premium; free car registration; free fuel voucher; full tank at pick up of the vehicle; free services (inclusive of parts and labour); free tracker and five years warranty.

It also includes a 20 per cent minimum equity, 48 months tenor, low interest rate, no fees and fixed monthly repayment throughout the duration of the facility.

Adegoke stressed: “The partnership is very solid. We are offering services and products to customers at a much subsidised rate and ensure that intending and prospective customers will always find it interesting,”

The Head, Marketing, Kia Motors, Jimoh Olawole, said our partnership with Sterling Bank was one of the facts that over a decade the financial institution has been known for its customer-focused promotions and finance schemes.

He said, “the vision of Sterling Bank and Dana Motors is to ease vehicle repayment for our customers and we are trying to make sure that our customers get the best from this promo.”

Olawole also revealed that the company has invested in a modern state-of-the-art workshop in Nigeria, built exactly to Kia quality standards that will ensure efficient and speedy after sales