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 up to 90% of the value for new vehicles and up to 80% of the value for used cars. The maximum repayment period is up to 60 months or 5 years and 60-day repayment moratorium post-vehicle release. The processing fee is 1.5% of the loan amount and the interest rate is at 20.6% per annum.
All 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 our customers.
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 line up with ease because of this partnership. For peace of mind, the vehicles come with warranty, dedicated aftersales support and free tank of fuel in addition to financing” said Julia Vershinskaya, MD Inchcape Kenya.