Stanbic bank Uganda has signed a Memorandum of understanding with Ford Motor Company to provide a credit solution to help individuals and companies solve their vehicle and asset financing requirements as an effort to drive economic growth and add value to the Stanbic customer base.
Speaking at the launch of the Ford Raptor at Busika, Ms. Doreen Ssendegeya, the Head of Asset Finance at Stanbic Bank Uganda said, the purpose of the partnerships is to provide convenient financing solutions to our mutual clients and through our relationship with FORD.
“We intend to provide both the Stanbic bank clients and CMC Uganda clients the option of more affordable finance packages across to afford the FORD range of products from CMC. The clients can now select any FORD product available in Uganda and be confident in that they can accessing the best available financing solutions together with the product they have selected”
Ford Finance is a strategic alliance, in the form of a cooperation agreement between Stanbic Bank Uganda and Ford Motor Company International and through their brand franchise holder in Uganda; Cooper Motors Corporation Uganda. (CMC Uganda). It has a customer focused approach to provide finance for a global brand to our customers in Uganda.
The product has been tailor-made to match the demand of our local customers and will be available in a wide range of Ford vehicles offered by CMC Uganda. Also, it will offer unbeatable ‘special’ finance packages, on selected vehicles from time to time, and at all times will bring value through Finance Rates, Insurance and Service and Maintenance packages, she said
“As a financial institution, Stanbic bank will be offering up to 90% vehicle and asset financing to the Ford clients for the purchase of various Ford vehicle at a lower interest rates with a flexible 60 months payment period. We believe this is the best finance solutions in the market that will help meet our customer’s needs and address the current financial challenges” Miss Sendegeya emphasized.
This type of vehicle and asset financing solutions is reserved for a wide variety of assets that are easy to identify the ownership and track the movement, services and maintain usage so that the value of the asset can be determined after several years of use.
Also, the customers will have access to a wide range of assets at subsidized fee with a flexible repayment arrangement to suit their cash flow on a rental as opposed to fully paying for it. ‘By using Ford finance, you can drive out of the CMC dealership shop with a brand-new car and you only have to make a monthly payment with no upfront deposit depending on your credit risk’ urged Miss Sendegeya.
Further noting, for clients whose business is centered around having the latest technology, leasing makes business sense because they have the option to keep upgrading your assets for a newer model with the dealer.
Adding, those customers will opt for our Ford finance solutions will have access to unlimited loan amount financing from the bank, a complimentary insurance and a lower cost services and maintenance costs negotiated upfront. Also, the customer will have access to dedicate a relationship manager and a sales team committed to ensure customers drive away in their vehicle of choice.
While vehicle and asset leasing continue to face adoption obstacles, Stanbic bank will be dedicating resources to create awareness and provide information on the benefits of vehicle and asset financing and how it helps individuals or companies acquire more assets without pledging all their resources.