A Nov. 9 press release says Stallion Group and Access Bank are linking Nigerian buyers to financing across 10 brands and 72 models, with loans for individuals reaching up to 90% of a vehicle’s value.
Under the release’s terms, individual customers would pay at least 10% of the vehicle’s value upfront. Fleet customers would contribute 20% to 30%. Eligible individual buyers could finance the balance through the program. Access Bank’s AutoFest page also advertises buyer contributions starting at 10%, but does not publish a fleet range or identify the models in the Stallion offer.
The release puts delivery at up to 72 hours after the buyer’s equity payment, provided credit approval and required paperwork are complete. Access Bank’s site frames its own 72-hour period as beginning when an application is filed, with timing dependent on eligibility and documents being submitted on time. The two descriptions measure the turnaround from different points.
After-sales support also figures in the offer: the release mentions servicing and genuine replacement parts. It describes repayment choices running past four years, while warranty length would depend on manufacturer terms. The maximums cited are six years for eligible vehicles and eight years for electric-vehicle batteries.
On its AutoFest page, Access Bank presents the program as vehicle asset financing for new and pre-owned vehicles. It lists Stallion Motors among seven partners and mentions a digital application process and partner discounts. The page does not name the 10 brands or 72 models attributed to the Stallion offer in the release.
At AutoFest’s June launch, Iyabo Soji Okunsanya, executive director of corporate and investment banking at Access Bank Plc, said affordable vehicle financing had been hard to obtain, THISDAY reported. Its June coverage also described high upfront costs as a barrier to vehicle ownership and reported that Stallion Group was among the distributors involved in the launch.
The November release does not give interest rates, fees or complete credit requirements.
