Elizade JAC Autoland, Sterling Bank Forge Strategic Partnership To Democratize New Vehicle Ownership In Nigeria
Elizade JAC Autoland Limited has formalized a strategic partnership with Sterling Bank PLC aimed at making brand-new vehicle ownership more accessible to Nigerians across different income classes through flexible financing solutions of up to four years.
The partnership agreement was signed at a ceremony held at the Elizade JAC Headquarters in Lagos, bringing together executives from both organizations, members of the press, and distinguished guests.
Speaking at the event, Demola Ade-Ojo, Managing Director of Elizade JAC Autoland Limited, emphasized that the partnership aligns perfectly with the company’s core mission. “At Elizade JAC Autoland, our goal has always been to make quality vehicle ownership more accessible and rewarding. Today’s partnership brings that goal closer to reality,” Ade-Ojo stated.
He explained that through this collaboration, customers purchasing vehicles from Elizade JAC will now enjoy structured vehicle financing solutions, flexible repayment tenors, and dedicated support from both Sterling Bank and Elizade JAC throughout the entire purchase process and beyond.
“This partnership is built on a shared commitment to customer-centric innovation. By combining Sterling Bank’s strong financial expertise with our trusted automotive portfolio and service experience, we are simplifying the vehicle ownership journey and removing traditional barriers to access,” the Managing Director added.
Ade-Ojo expressed sincere gratitude to the Sterling Bank team for their collaboration and vision in bringing the initiative to life, describing it as “a partnership founded on mutual trust and a clear focus on long-term impact.”
David Adebayo, Vice President of Consumer Banking at Sterling Bank, provided insight into how the partnership fits within the bank’s broader strategic framework. “Our strategy, known in the industry as HEART, guides our work: health, education, agriculture, renewable energy, and transportation. Transportation is our focus here, and we understand that we cannot achieve maximum impact alone. Collaboration across industries is essential,” Adebayo explained.
He revealed that the vehicles available through this partnership have been carefully selected based on reliability and suitability for Sterling Bank customers, and that the initiative is open to both existing and potential new customers of the bank.
For existing Sterling Bank customers, Adebayo outlined an exceptionally streamlined process: “Pre-approved facility limits are already in place, so minimal evaluation is required. Customers can simply choose a vehicle, confirm their limits, and drive away. This approach ensures speed, convenience, and flexibility.”
The financing structure allows repayment for up to a four-year period, and notably, customers who wish to upgrade their vehicles within months will receive support from the bank for new financing arrangements. “This system benefits individuals, staff, and SMEs alike,” Adebayo noted.
A major incentive announced by Adebayo is a 10% discount on all vehicles for Sterling Bank customers participating in the scheme. The Vice President outlined the straightforward process: “Customers can visit JAC Motors showroom, either physically or online, view a vehicle, then request a proforma invoice and submit it to Sterling Bank.”
Oluwaseun Ayanbadejo, Head of Corporate Sales at Elizade JAC Autoland Limited, focused on the operational efficiency the partnership would deliver to customers. “Our main goal is to ensure that all customers receive the solutions they need and can complete their vehicle purchase efficiently. This partnership with Sterling Bank supports fast delivery for auto financing, so customers do not need to wait months for their vehicles,” Ayanbadejo stated.
He confirmed that financing is structured for a maximum of four years with flexible payment options, and that customers would have the option to upgrade their vehicle after just four months, with support from Sterling Bank for new financing.
While responding to questions from the media, Arvind Bhardwaj, Chief Operating Officer of Elizade JAC Autoland Limited, reiterated the company’s readiness and preparedness in meeting the demands of Nigeria’s market concerning affordable brand-new mobility. He confirmed that vehicles available through the partnership include passenger cars, SUVs, sedans, and trucks, ensuring a wide selection to meet diverse customer needs across various segments.
