Pay 10% of Hyundai Vehicle to Globe Motors, Stanbic IBTC and Drive Away


Prospective buyers of any Hyundai vehicle can now make a deposit of 10% and take immediate possession of the vehicle with the balance spread over 60 months.

This is fallout of a unique vehicle financing scheme brokered by Globe Motors and Stanbic IBTC bank.

The scheme which has already taken off, is targeted at potential Hyundai customers, said the Managing Director of Globe Motors,  Mr. Victor Oguamalam at a joint press briefing with senior managers of Stanbic IBTC bank in Lagos, recently.

Oguamalam said, “We believe the collaboration of Globe Motors, providing quality products and services, Hyundai Manufacturing, producing highly acceptable vehicles, and Stanbic IBTC, the leading auto finance provider in Nigeria, will be a success, as the customer is the ultimate beneficiary.”

He added that, “Because we recently added Hyundai to the other brands we already market, we decided to launch this campaign to deserving and willing customers who want to own and drive Hyundai vehicles.”

The campaign, he said was for an initial three months, and that it covered all models of Hyundai vehicles such as; Hyundai passenger, commercial and Sports Utility Vehicles (SUV), including Accent, Elantra, Sonata, and Santa Fe, among others.

On how it works, Oguamalam said prospective buyers could approach any branch of Stanbic IBTC bank nationwide or any Globe Motors showroom in any part of the country for purchase procedure.

Stanbic IBTC’s Head of Vehicle and Asset Finance (Personal and Business Banking), Ifeanyi Ogbor, added that his company believes in the credibility of Globe Motors and with its over 10 years’ experience in Auto financing in Nigeria, it is open to offer financing to corporate entities, small and medium businesses as well as individuals.

He added that “this is a great opportunity, coming with reduced interest rate, good prices from Globe Motors, and you can actually conclude the process without you coming to the bank, and Hyundai vehicles are widely used in Nigeria.”

General Manager of Globe Motors, in charge of Hyundai brand, Mohan Wasnani stated that Globe goes further to offer its customers warranty of three years or 100,000 kilometers for all models as well as free three services after purchase of the vehicle for all models.

Globe Motors has over 30 years’ experience in the Nigeria auto market, while Hyundai is currently the fourth largest vehicle manufacturer in the world. Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan, South Korea, which has an annual production capacity of 1.6 million units.