PHC Boss Wants Second Hand Cars Banned

Ghanaians have been advised to stop importing used vehicles into the country, as some of them are too old and pose danger to road users. The call was made by Mr. Paul Pepera the Deputy Chairman and Managing Director of PHC Motors during the inauguration of a ?800m PHC Motor showroom in Accra yesterday.

He said the Motor Association is trying to get the financial institutions to design credit facilities to enable people procure new cars. Repayment for the facilities he said would be spread over a three to five year period.

He added: "we have warned the banks that unless they come out with a policy for our customers to afford to buy vehicles on credit, the Association will set up a financing means, put their resources together to enable people buy cars on credit at affordable prices."

According to him the Standard Chartered Auto Loan Scheme which was established two years ago is ridiculous, adding that they were charging 10-15% above the base rate to lend people money for cars.

He urged the government to bring down the interest rate so that people can afford new vehicles, adding that the Motor Association is prepared to cut their margins if second hand cars are banned and new vehicles encouraged. He called on the government to reduce the 10 years ban placed on old vehicles to 5 years.

PHC Motors formerly known as Leyland Motors is now incorporated with Daimler Chrysler, manufacturers of the Cherokee range of vehicles.