NCBA Bank will offer up to 100pc financing for customers purchasing vehicles from CFAO Motors for private and commercial use.
The asset financing deal by the two firms will see customers access the loan to buy new and pre-owned vehicles.
NCBA Group Director, Asset Finance and Business Solutions Lennox Mugambi said the agreement reaffirms the lender’s commitment to offer a strong asset finance value proposition to customers.
“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,” he added.
Under the financial arrangement, commercial vehicle buyers will be offered a grace period of 90 days on their loans and 72 months repayment period.
“The coming to fruition of this agreement aligns with our long-term agenda to leverage partnerships geared towards providing true value to our customers,” said Daniel Maundu, CFAO Motors Kenya General Manager for Vehicle Sales.
Among the target customers are those who would like to upgrade their vehicles to newer models which will be facilitated through the trade-in facility.