Some of the cars on offer
UniBank Ghana Limited, a leading wholly-owned indigenous financial institution, has entered into partnership with Erata Motors, an Accra-based car dealership company that imports both new and used cars, to enable both customers and non-customers of the bank, who wish to own cars, to do so easily.
The facility would support prospective car buyers with funding from uniBank.
According to Christian Aaron Otu-Appah, the bank was willing to support salaried workers, who are paid GH¢2,000 and above, to acquire cars of their choice.
For used cars, he said customers were expected to pay 20 percent of the cost, as the bank finances the remainder, while for new cars, buyers would be required to pay 10 percent of the cost of vehicles they intend to own and pay the rest of the cost over four years.
“As an indigenous bank we have grown over the years and our aim is also to partner local firms and pull them along,” the Head of Consumer and Asset Finance at uniBank said.
UniBank is also going to pay six months premium insurance for clients with no interest.
Eddie Kusi Ankoma, Chief Executive of Erata Motors, commenting on the deal, said: “Whether you’re searching for the best family sedan, best luxury sedan or the best performance sedan, we’ve got you covered. We have in stock some of the best SUVs and crossovers designed for power, speed, space, on-road or off-road ability that meets your every need.”
Speaking to journalists after the launch of the partnership, Mr Ankoma noted: “Also in stock are stylish, tough and genuine pick-up trucks. High maneuverability achieved by superb performance and easy handling with advanced safety equipment.”
He, however, appealed to government to reduce taxes on new imported cars so that people could buy more of those instead of used ones, which become scrap after a few years in use.
He said the new cars were environmentally-friendly and of high quality compared to old ones whose importation had been discouraged by authorities in most countries through the imposition of high taxes.
A business desk report