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HomeEconomyFinanceStanbic, Caetano Kenya ink car financing deal for customers at 0% rate

Stanbic, Caetano Kenya ink car financing deal for customers at 0% rate

Stancic, Caetano Kenya ink car financing deal for customers at 0% rate

Stanbic Bank and Caetano Kenya have signed a Vehicle Asset Financing partnership agreement that will see the bank offer customers up to 100 percent financing with 0 percent interest rate when purchasing a motor vehicle from the car dealer.

Caetano Kenya is the official distributor and car dealer of Hyundai and Renault

It has an extensive product range for both Hyundai and Renault. They have the Sedan, Crater, Tucson, Santa Fe, Palisade and the recently launched KONA Electric from Hyundai and the KWID, Triber, Duster, Kangoo and the comfortable Koleos from the Renault collection.

Customers will to select units such as the Renault KWID and Koleos that will see Stanbic Bank provide up to 80 percent asset financing at extended repayment periods of up to three years.

This means that when purchasing the KWID, which retails at a price of Ksh. 1.95M, a 0% APR loan for 36 months will bring your monthly payments to approximately Ksh. 43,333.

“At Caetano Kenya, we place customer satisfaction at the heart of our priority and is the driving force to the unwavering passion for what we do. This partnership with Stanbic Bank demonstrates our commitment to walking the journey with our customers, ” said Pedro Campos, CEO of Caetano Kenya.

He also said that “our clients’ financial and lifestyle requirements are ever-changing. Thus, we endeavour to anticipate these dynamic needs and innovate solutions that can fulfil these needs.”

The bank’s move to partner with Caetano Kenya aims to ease the burden on their clients and offer them peace of mind that will enable them to focus on growing their businesses.

Stanbic is also keen to provide their clients with solutions that allow them to focus on building their capital and growing their businesses while allowing the bank to assist them to acquire the assets that they need to carry out their daily operations.

“This strategic tie-up with Caetano Kenya is crucial and quite timely, as it will benefit many of our clients who previously would not have been able to acquire assets or financing have access to new and quality vehicles,” said Lilian Onyach, Head of Consumer and High Net-worth Clients, Stanbic Bank.

The automotive market in Kenya is characterised by exceptional dynamism. Car manufactures are now offering low-cost brands at attractive prices sparking a renewed interest in new cars. When you purchase a new car, you make a completely personalised choice.

A factory-built vehicle offers you impeccable comfort. You can choose the colours of its body and the material of the seats that suit you. Not to mention you benefit from the latest technologies and several energy alternatives.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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