I&M Bank, Crown Motors Partner to Provide Up To 100% Vehicle Financing

By Soko Directory Team / Published July 27, 2021 | 4:13 pm

KEY POINTS

I&M Bank provides a robust Asset Finance offering for both business and private assets for motor vehicles, machinery and equipment with flexible repayment options.

Photo: I&M Bank Limited CEO Mr. Kihara Maina (R) and Crown Motors Group Managing Director, Tony Voorhout (L) exchange agreements during the launch of the Vehicle Asset Financing partnership. Looking on is Ms. Maliha Sheikh, National Sales Manager Crown Motors Group (L) and Mr. Timothy Itaru, Head of Asset Finance at I&M Bank Limited.

I&M Bank and Crown Motors Group have partnered to provide financing for passenger cars and light commercial vehicles.

The Vehicle Asset Financing product will see the bank help vehicle buyers pay for Crown Motors range of vehicles including the Nissan product range and Pick up ranges.

Specific vehicles that will qualify for the financing product are the Y62 Nissan Patrol, Xtrail, Urvans, and the soon to be introduced New Navara Range, Terra, Qashqai and Magnite.

Through the partnership, I&M Bank will provide up to 100 percent asset financing to its customers where they will also enjoy competitive interest rates at extended repayment periods of up to 5 years.

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The Bank through the Bancassurance arm, will also provide an enriched comprehensive motor insurance package at a discounted premium rate through this Asset Finance option.

In addition, the Bank will provide insurance premium financing for this Asset Financing agreement allowing customers to make premium payments in affordable instalments. Customers will also enjoy a two-month repayment holiday under this agreement.

“Our clients financial and lifestyle requirements are ever-changing. As a financial institution, we endeavour to anticipate these dynamic needs and innovate products and services that are able to fulfil these needs. This strategic tie-up with Nissan Kenya is crucial and quite timely, as it presents our potential and existing clients, a wider choice of vehicles to purchase from where they will be assured of safety and quality,” said Kihara Maina, CEO, I&M Bank Limited during the partnership.

Crown Motors Group’s National Sales Manager, Maliha Sheikh noted that the asset financing agreement will give the consumer better value for money, especially in these very tough and trying times.

“We are continuously striving to make it easier for Kenyans to have access to asset financing to acquire top quality vehicles that are renowned for their safety and reliability,” Mr. Maliha said

“With a network of over 22 accessible service outlets countrywide, we are committed to serve you as our valued customers. The Nissan brand is well established in this market and in the region being renowned for its toughness, durability and economic cost of ownership,” concluded Tony Voorhout, the Crown Motors Group Managing Director.

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I&M Bank provides a robust Asset Finance offering for both business and private assets for motor vehicles, machinery and equipment with flexible repayment options. The Asset Financing agreement with Crown Motors is expected to complement I&M Bank’s strategic lending initiatives for its Corporate, Business and Premium Banking segments.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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