Access Bank says its AutoFest initiative is helping more Nigerians overcome the financial barriers to vehicle ownership by providing flexible financing solutions, lower upfront costs and access to trusted automobile brands through its Vehicle Asset Financing, VAF programme.
The programme is designed to connect individuals and businesses with accredited automobile dealers while simplifying the vehicle financing process.
According to the bank, one of the major attractions of AutoFest is that eligible customers can acquire a vehicle with a minimum 10 per cent equity contribution, while financing covers up to 90 per cent of the vehicle’s value, subject to credit approval.
The initiative also aims to reduce the overall cost of vehicle ownership through competitive pricing from participating dealers, affordable financing options and additional ownership benefits.
Customers can access financing for both new and certified pre-owned vehicles, giving them greater flexibility to choose options that suit their needs and budgets.
Access Bank said the programme brings together several leading automobile brands, including CIG Motors, Mikano Motors, Kewalram Motors, Stallion Motors, Elizade JAC and CFAO Motors, allowing customers to compare different vehicles in one place.
The bank added that AutoFest offers a simplified digital application process, enabling customers to initiate and monitor their financing requests with ease.
Beyond individual buyers, the programme also caters to small and medium-scale enterprises, corporate organisations, schools, hospitals, fleet operators and entrepreneurs seeking vehicles for commercial operations.
Repayment plans are structured based on customers’ affordability and credit assessments, while documentation requirements include valid identification, proof of income, bank statements, proof of address and a vehicle quotation or invoice.
Customers can begin the application process through their Access Bank relationship managers, participating dealerships or the bank’s designated digital platforms.
