Stanbic Bank Kenya has entered into an asset finance agreement with CFAO Motors Kenya, allowing consumers who wish to purchase new motor vehicles to access full financing. The partnership aims to alleviate the financial burden on customers and provide them with the opportunity to enjoy the benefits of buying brand new vehicles.
Under the agreement, customers will benefit from zero facility fees and a repayment plan of up to six years. Passenger vehicle buyers will also receive a repayment holiday of 60 days, while those purchasing school buses will enjoy a 90-day repayment holiday. Competitive insurance terms will be facilitated by Stanbic Insurance Agency.
Joshua Anya, Deputy Managing Director of CFAO Motors Kenya, expressed his optimism about the partnership, highlighting the positive impact it will have on customers. The collaboration between CFAO Motors and Stanbic Bank aims to provide a seamless and convenient financing solution for those looking to purchase vehicles.
Nelly Waithaka, Head of Products at Stanbic Bank Kenya, emphasized the bank’s commitment to delivering customer-centric innovations and strengthening its asset financing offering. The partnership with CFAO Motors aligns with Stanbic Bank’s goal of meeting and exceeding customer expectations.
CFAO Motors, in partnership with DT Dobie, offers a wide range of automotive models across Kenya. The brands available include Toyota, Suzuki, Volkswagen, Mercedes Benz passenger vehicles, Yamaha motorbikes, and Hino, Hyundai, Sinotruk, and Mercedes Benz Actros trucks and buses.
To take advantage of the financing offer, customers can visit the CFAO Motors showroom, select their desired vehicle, and receive an invoice from CFAO Motors. They can then present the invoice to Stanbic Bank for processing, ensuring a smooth and efficient financing process.
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