Kia’s Skye Bank finance option to end in March

KIA Motors’ financing plan to ease acquisition of brand new Kia models like Picanto, Rio, Cerrato, Optima and Sportage may not go beyond March 2016.

Signing a partnership agreement with Skye Bank Plc in Lagos, Kia said the initiative, which intends to promote the acquisition of new cars by Nigerians with good cash flow would end in March 2016.
It said the partnership was borne out of the passion of both Kia Motors Nigeria, and Skye Bank Plc to promote a customer-driven initiative by providing the best quality and exceptional service and buying experience.

According to the organization, the financing plan which started recently, will pave way for both new and existing customers of the Kia brand to own a new vehicle of their choice in celebrating the yuletide period and kick-starting the New Year.

Speaking at the event in Lagos, Head, Retail Banking Group, Skye Bank Plc., Nkolika Okoli, said Skye Bank, as retail focused bank, was on the lookout for ways to add value to its customers, adding that the partnership would provide avenue for customers to easily acquire brand new cars.
Okoli said that salary earners and business owners could acquire cars under the partnership with a down payment as low as 20 per cent of the total cost of the car.

She said: “So, rather than opt for fairly used cars, customers are encouraged to provide 20 per cent equity contribution for a brand new car while the balance can be repaid over a 4 year period”.

The scheme is expected to also offer customers free auto tracking installation, a flexible payment option for up to 48 months repayment tenor and a competitive equated monthly installments (EMI) as low as N64,500.”

Also speaking at the event, Kia Motors’ chief commercial officer, Sandeep Malhotra, described the partnership as an important one given Skye Bank’s customer centric orientation.

Malhotra said the partnership would make ownership of Kia cars very easy, cheap and affordable for anybody with a regular source of income who ordinarily may not have the required money to pay for the car at once. He listed the benefits accruable to customers who buy Kia cars under the special arrangement to include free first three services, discounted prices, free delivery, 5-year warranty and free vehicle tracker.