By Lilian Mwikali and Judy Totari
NCBA Bank Group and Inchcape Kenya have inked a deal that will see the financial institution finance customers to acquire vehicles from the automotive distributor.
The lender’s director of asset finance and business Lenox Mugambi said during the signing of the agreement at Inchcape Changan showroom along Lusaka Road on Tuesday, June 4, that the collaboration will offer “exceptional benefits” specifically for those looking to acquire Jaguar, BMW, Land Rover and Changan vehicles.
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“As we navigate through the complexity of vehicle financing, our goal remains clear to simplify the process and make it more accessible and advantageous to our customers,” Mugambi said.
He said the repayment period was designed with the customer in mind to have a maximum repayment period of five years.
“This will allow the customer to have flexible repayment especially during these challenging times,” he said, adding that the partnership will allow customers to drive away with their dream cars with minimal cost where they will be financing 90 percent for new and 80 percent for refurbished vehicles.
The lender will offer a 60 days repayment moratorium to enable a customer to settle with the vehicle and navigate without pressure.
“All vehicles under this scheme will be insured under NCBA bank insurance intermediary offering our customers peace of mind and comprehensive vehicle protection,” he elaborated.
Mugambi emphasized that the scheme will also feature competitive yet accessible interest rates for very good discounts as well as processing fees providing an unmatched vehicle financing experience.
“Together we are creating a way for our future where vehicle ownership is within reach, offering buyers a space to achieve their dreams and aspirations,” concluded Mugambi.
Inchcape Kenya Managing Director Yulia Vershnskaya admitted to having worked to bring the partnership to fruition for a long time.
“Marketing is a challenge these days, this partnership will make sure that Kenyan customers have access to a great product both automotive and financing enabling them to enjoy,” Vershnskaya said.
