NCBA Bank and CFAO Motors Kenya have entered into a strategic partnership that will allow customers to access up to 100 per cent financing to purchase a wide range of new and pre-owned vehicles.
CFAO Motors will be extending this offer to consumers across all segments from personal vehicles to commercial trucks and buses.
The deal also targets those who seek to upgrade their vehicles to newer models in the market and this will be facilitated through the trade-in facility by the CFAO Motors Automark brand.
Small and Medium-sized enterprises (SMEs) and large businesses will be entitled to very flexible and affordable repayment terms that will offer a 90-day repayment holiday and up to a 72-month repayment period.
The same will apply to Public Service Vehicle (PSV) operators and learning institutions that will enjoy competitive rates on the Hiace brand with Tour Operators getting a boost on the Land Cruiser 70 series.
Speaking during the unveiling of the partnership, NCBA Group Director, Asset Finance and Business Solutions Lennox Mugambi noted that the partnership is designed to offer the best value for the customer and allow them to effectively take up the wide range of vehicles from CFAO Motors Kenya.
Read: NCBA Group Profit Climbs 20.3Pc To Ksh9.3 Billion
“We are excited with this new partnership as it reaffirms our commitment to offering a strong asset finance value proposition to our customers who are keen on owning their first vehicles or even upgrading,” stated Mugambi.
“Given the current economic challenges, Kenyans have had to readjust their priorities and that is why as NCBA, we are constantly seeking strategic partnerships that will make vehicle ownership more convenient and affordable for all,” added Mugambi.
On his part, CFAO Motor Kenya General Manager – Vehicle Sales, Daniel Maundu noted that CFAO Motors has a key role to play in creating the necessary enablers that will result in ease of access to various motor vehicle brands across the country.
“The coming to fruition of this agreement aligns with our long-term agenda to leverage partnerships geared towards providing true value to our customers. At the same time, it also reflects our commitment to keep the consumer at the heart of what we do, in keeping with our vision to be the preferred partner for mobility solutions,” noted Maundu.
Read: NCBA Group Picks Kathryne Maundu As Company Secretary
Customers seeking financing from NCBA will be able to conveniently request through the NCBA online application portal with a record 24-hour turnaround time.