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NCBA Bank has signed a Memorandum of Understanding with Inchcape Kenya for an asset financing campaign that will run until 31st March 2025. This initiative aims to provide exclusive financing options for Changan, BMW, Jaguar, and Land Rover vehicles.
Under this initiative, NCBA will offer financing solutions for both new and pre-owned vehicles tailored to meet the diverse needs of their esteemed customers. The financing options include:
- New Vehicles: Up to 90% of their value
- Used Vehicles: Up to 80% of their value
- Maximum Repayment Period: Up to 60 months (5 years)
- Repayment Moratorium: 60-day repayment moratorium post-vehicle release
- Processing Fees: 1.5% of the loan amount
- Interest Rate: 20.6% per annum
All Public Service Vehicles (PSVs) will be reviewed in accordance with the terms in existing policies. Additionally, all vehicles financed under this scheme will be insured through NCBA Bancassurance Intermediary Limited, ensuring peace of mind and security for customers.
Speaking at the launch, NCBA Bank Group Managing Director, Mr. John Gachora, said, “We are thrilled to enter into this partnership with Inchcape Kenya today. This partnership underscores our commitment to provide innovative solutions in asset finance to benefit our customers. It opens up new opportunities for customers to own premium vehicles from renowned brands like Jaguar, Land Rover, BMW, and Changan.”
Julia Vershinskaya, Managing Director of Inchcape Kenya, added, “We are delighted to partner with NCBA to offer our customers exclusive financing options that make owning a premium vehicle more attainable. This initiative is a testament to our shared vision of enhancing customer experience and satisfaction. Inchcape Kenya offers a wide range of vehicles for customers to choose from, including fuel-efficient light commercial vehicles and affordable SUVs from the Changan brand. Customers can also purchase from the BMW and JLR model line-up with ease because of this partnership. For peace of mind, the vehicles come with a warranty, dedicated aftersales support, and a free tank of fuel in addition to financing.”
