Listed mid-tier bank NIC has partnered with motor vehicle dealer Nissan Kenya to provide financing for the purchase of its new generation X-trail.
The bank through its subsidiary NIC Leasing Ltd Liability Partnership (LLP), will have its customers access up to 90 per cent financing for the new vehicle for a repayment period of up to five years.
“We are offering an attractive reducing balance interest rate of 18 per cent, compared to the current rate of 21 per cent. The move is part of our strategy to continue growing our Asset Finance business and grow our customer base,” said Lennox Mugambi, NIC Head of Asset Finance.
The partnership will also cover other Nissan vehicle brands including the single and double cabin pick-up units as well as the Patrol. Nissan will offer customers who sign up for asset financing with NIC Bank a further discount on the units.
“This partnership allows customers to enjoy some of our leading products at a favourable interest rate and an attractive discount. We have seen the impact of interest rates in our business but with continuous partnerships such as this one with NIC Bank we are able to continue offering the market attractive, competitive options,” said the Marketing Manager of Nissan Kenya Samantha Wright.
She also stated that Kenya remained a key market for the global motor vehicle brand and was looking to expand its presence in the market.
