Good news for Kenyans looking to buy a new or used car! NCBA Bank and Inchcape Kenya have come together and are offering a great car financing deal. You can now get a loan for up to 90 per cent of the price of a new car.
This financing deal is a game-changer for Kenyans who desire to own the cars of their dreams. The deal is tailored for high-end car brands including Jaguar, Land Rover, BMW and Changan models of vehicles. It makes financing these dream vehicles much easier.
“This partnership is designed to provide an exceptional solution specifically tailored for those looking to acquire these prestigious marques,” stated Lennox Mugambi, NCBA Group Director, Asset Finance and Business Solutions.
Stanchart launches SC Juza mobile lending app with Sh. 100,000 loan limit
In this partnership, Inchcape dealership customers can access financing of 90% for brand-new vehicles and 80% for pre-owned cars.
This comes with a maximum repayment period of 60 months (5 years). This will help customers manage their finances easily.
“The clients will also enjoy a 60-day repayment moratorium after the vehicle’s release. This partnership allows our customers to purchase new and pre-owned vehicles with up to 90 per cent financing for new and 80 per cent for pre-owned, based on their value,” said Lennox Mugambi.
Additionally, NCBA promises a competitive interest rate of 20.6% per annum, making car ownership a more accessible reality for many Kenyans.
In addition, PSV (Public Service Vehicles) usage will be reviewed per the terms outlined in the existing policy.
“The scheme will also feature competitive yet accessible interest and processing fees. We are confident that we can deliver an unmatched vehicle financing experience,” added Lennox Mugambi.
This is to protect both you and your new car. NCBA requires that all financed vehicles through this program come with insurance from NCBA Bancassurance Intermediary Limited.
This ensures you’re covered financially if something goes wrong, giving you peace of mind to enjoy your new ride.
“All vehicles financed by this scheme will be insured through NCBA Bancassuarance Intermediary Limited, offering our customers peace of mind and comprehensive protection,” said Lennox Mugambi.