Hyundai Motors, Diamond Bank Launch Accessible Vehicle Finance

Hyundai Motors Nigeria Limited (HMNL) in collaboration with prime financial institution – Diamond Bank Plc has launched an imaginative vehicle finance scheme to inspire perceptive customers and fleet buyers to buy precision engineered and affordably priced made-in-Nigeria Hyundai vehicles.

The scheme which is ongoing is designed to encourage local patrons to own and drive Hyundai vehicles, using convenient bank credit with low interest rates from 14% without commitment and management fees.

Announcing the scheme in Lagos, the duo of Hyundai Motors Nigeria, manufacturers and distributors of Hyundai vehicles and Diamond Bank PLC explained that the scheme has convenient monthly repayment tenor of 12 months to 36 months, depending on the customer’s payment option.

While also adding that a comprehensive insurance of 3.5% of the vehicle cost will be borne by the customer, the facilitators of the scheme said customers would in addition be offered free registration, free service for six months or 10,000kms and five years or 100,000kms (whichever is first).

Both establishments brokered this agreement in Lagos at the launch of the scheme aimed at easing challenges associated with accessing low interest bank credit to procure choice cars.

“The credit initiative is a seamless plan for desiring patrons and fleet managers to access low interest bank credit for the procurement of discounted Hyundai vehicles without necessarily paying commitment and management fees,” the duo explained.

Meanwhile, the Hyundai Motors head of sales and marketing Jatin Nadkarni has said: “The joint credit initiative is in line with Hyundai’s strategy and direction of making vehicle acquisition a seamless experience and essentially assists prospective customers to buy new Hyundai vehicles and experience Hyundai inspiring technology.”

The offer which can accessed in all Hyundai Nigeria Limited accredited dealers nationwide includes select Hyundai models like Hyundai Accent 1.4/1.6litre, Grand Xcent & i10 1.2litre sedans, Azera 2.4litre, Creta 1.6litre and Santa Fe 2.4litre & 3.3litre variants.

HMNL head of sales and marketing said the offer was intended to ease vehicle acquisition and assist customers including those without functional account with Diamond Bank to access the facility.

“What we are simply doing is to help prospective buyers starve-off the burden of sourcing funds in one fell-swoop to buy a new car. You can now walk into any Diamond Bank branch to apply for credit to buy your choice car and thereafter, pay at your convenience,” Nadkarni said.