Elizade JAC Autoland Limited has entered into a strategic partnership with Sterling Bank Plc to expand access to brand-new vehicles for Nigerians through structured and flexible financing options of up to four years. The collaboration aims to reduce long-standing barriers to vehicle ownership for individuals and businesses across the country.
According to a statement made available to The PUNCH on Friday, the partnership was unveiled at a recent event held at the Elizade JAC Autoland headquarters in Lagos. The companies said the initiative responds to growing demand for affordable and convenient mobility solutions amid tightening economic conditions.
Under the arrangement, customers will have access to structured auto financing, flexible repayment tenors, and dedicated support throughout the vehicle purchase process and after-sales period. The scheme is open to both existing and prospective Sterling Bank customers.
Speaking on the partnership, the Managing Director of Elizade JAC Autoland Limited, Demola Ade-Ojo, described the collaboration as a deliberate step to deepen customer value and simplify the journey to vehicle ownership. He said the partnership combines Sterling Bank’s financial expertise with Elizade JAC’s automotive portfolio and service experience to deliver customer-focused solutions.
Sterling Bank’s Vice President, Consumer Banking, David Adebayo, said the initiative aligns with the bank’s HEART strategy, which prioritises health, education, agriculture, renewable energy, and transportation. He noted that transportation is critical to economic productivity and requires cross-industry collaboration to achieve meaningful impact.
Adebayo explained that customers can select a vehicle, request a proforma invoice, and submit it to the bank for financing approval. He added that Sterling Bank customers would enjoy a 10 per cent discount on all vehicles, with pre-approved credit limits enabling faster processing and delivery. The scheme also allows customers to upgrade vehicles within months, if desired.
Providing further insight, the Head of Corporate Sales at Elizade JAC Autoland Limited, Oluwaseun Ayanbadejo, said the partnership was designed to eliminate delays often associated with auto financing in Nigeria, ensuring efficient purchases and fast vehicle delivery for customers nationwide.
This partnership could bring more car ownership opportunities to Nigerians. Exciting times ahead for those looking for affordable vehicle financing!
I think this partnership will revolutionize car financing in Nigeria. Cant wait to see the impact it has on the market!
Why partner with a bank for vehicle financing? Seems like an odd match. Share your thoughts!
This partnership could revolutionize the way people access vehicle financing. Exciting times ahead for car enthusiasts! 🚗🔥
Im not convinced that this partnership will actually make vehicle financing more accessible. Seems like a marketing ploy to me.