FORD MOTOR COMPANY, VEHICLE CENTRE ZAMBIA AND STANBIC BANK ZAMBIA INTRODUCE FORD FINANCE
Wouldn’t you want the company who built your car, to finance your car?
In 2017, Ford Motor Company (FMC) and Standard Bank signed a joint alliance that created Ford Finance, with the aim to facilitate the financing of Ford motor vehicles initially in South Africa, Botswana, Eswatini and Namibia. This initiative has since expanded to other African countries that include Kenya, Uganda and most recently Zambia.
As the authorised Ford dealer in Zambia, Vehicle Centre Zambia have joined efforts with Ford Motor Company and Stanbic Bank Zambia, to make new vehicles more affordable, by allowing customers to enjoy extremely attractive interest rates. Topping the deal, and on offer by Vehicle Centre Zambia, at zero percent (0%) interest per annum, is the Ford Ranger 2.2L 4x2 Base Single Cab. All other Ford models available at Vehicle Centre Zambia, are eligible for financing at attractive rates under the scheme.
With Vehicle Asset Finance being a popular method of acquiring motor vehicles by individuals and corporates alike, Horis Mainza, Head Vehicle & Asset Finance, Stanbic Bank, had this to say, “as the leading vehicle and asset finance business in Zambia, Stanbic Vehicle and Asset Finance accounts for 45% of the asset finance business that happens within the dealer space. Informed by local demands, our offering has become popular for car buyers in Zambia because of our ability to structure our facilities to suit each and everyone of our customer’s requirements. We understand that we cater to a mix of customers and that flexibility has been a key factor that has allowed a lot of the customers to choose Stanbic.”
With the Ford Finance initiative, customers in Zambia are being offered arguably the most attractive vehicle financing packages. “As a financial intermediary and leading asset financing bank in the country, we have built economies of scale that allow customers to enjoy some of the best financing conditions in the country,” said Mr. Mainza, “In addition to this, our partnership will allow customers to enjoy even better, almost unheard of pricing with the Ford Finance Initiative. At Stanbic Bank, we say ‘Zambia is our home and we drive her growth.’ We are proud to partner with Ford and offer Ford Finance to the market. We believe providing cost effective and efficient mobility solutions will in turn drive economic activities in the country”
On the introduction of Ford Finance in Zambia, Cassim Rafik, Regional Accounts Manager – Ford Credit, SSA markets, had this to say: “Ford Motor Company is proud to be associated with Vehicle Centre Zambia as our brand ambassador in Zambia. A unique opportunity existed for the right banking partner to create an alliance with Ford, in order to introduce a “captive” retail finance to all Sub-Saharan Africa markets. Based on Standard Bank’s well represented Vehicle Asset Finance (VAF) operations, they were accepted as Ford’s alliance partner. We have made great inroads and successfully launched the Ford Finance program in our Cross border markets and now with the launch of Ford Finance in Zambia. The objective of introducing Ford Finance in Zambia is to develop a Customer value preposition which encompasses identifying customer needs, turn product features into customer benefits and develop individual customer value preposition. Ultimately to develop a “total product offering” that will create customer benefits from a point of affordability and quality service.”
In the simple steps described below, a customer may access a vehicle using the Ford Finance initiative:
- Visit a Ford Showroom
- Let a Sales Executive assist you establish the finance option that works for you
- Match the vehicle that best suits your finance option
- Test drive the vehicle of choice
- Obtain quotation from Ford dealer and present to Stanbic Bank for formalisation
- Vehicle delivery
“We are very excited about this offer and anticipate that it will be taken up by a good number of customers,” said Peter L. Phiri, Vehicle Sales Team Leader, Vehicle Centre Zambia. “Among other features, Ford vehicles are known for quality and safety, with the Ford Ranger being the number one selling pick-up in the world, recording sales of over one million units a year. The Ford Finance scheme is yet another way of expressing our gratitude for the support shown to us by our customers and aligning our vision with FMC and our partners Stanbic Bank.”