Finance
NCBA Bank Group and Inchcape Kenya have signed a partnership agreement which will see the financial institution finance customers to acquire vehicles from the automotive distributor. NCBA Group director, Asset Finance and Business Lenox Mugambi and Inchcape Kenya Managing Director, Yulia Vershnskaya sealed the agreement on Tuesday at Inchcape Changan showroom along Lusaka Road.
According to Mr Mugambi the partnership is designed to offer exceptional benefits specifically tailored for those looking to acquire Jaguar, BMW, Land Rover and Changan vehicles. “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,” he reiterated.
NCBA Group director, Asset Finance and Business Lenox Mugambi (right) and Inchcape Kenya Managing Director, Yulia Vershnskaya (left) signing the agreement of partnership between NCBA bank and Inchcape Kenya at Inchcape Changan showroom on Tuesday June 4, 2024.
He added 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. He emphasized that 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,” Mugambi commented. Nevertheless, they will offer a 60 days repayment moratorium to enable the 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.