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NCBA To Finance Up To 90% For Those Buying New Cars From Inchcape

BY Soko Directory Team · June 5, 2024 09:06 am

NCBA Bank has today signed a Memorandum of Understanding with Inchcape Kenya for an asset financing campaign expected to 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 our 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 PSVs will be reviewed by 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 our customers.

Read Also: NCBA Makes Ksh 5.3 Billion In Net Profits For This Year’s First Quarter

Speaking at the launch, the 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. This partnership opens up new opportunities for customers to own premium vehicles from renowned brands like Jaguar, Land Rover, BMW, and Changan.”

“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. From light commercial vehicles with fuel-efficient engines to affordable SUVs from the Changan Brand. Customers can also purchase from the BMW and the JLR model lineup 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” said Julia Vershinskaya, MD of Inchcape Kenya.

Read Also: NCBA To Start “Adopting” Schools In A Push To Plan 10 Million Trees By 2030

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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