Car Financing: Caetano Kenya, Stanbic Bank Ink Deal

Stanbic Bank and Caetano Kenya, the official distributor and car dealer of Hyundai and Renault have signed a Vehicle Asset Financing partnership agreement that will see the bank offer customers up to 100 per cent financing with 0 per cent interest rate when purchasing a motor vehicle from the firm.

Caetano Kenya 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.

This partnership is attractive to select units such as the Renault KWID and Koleos that will see Stanbic Bank provide up to 80 per cent asset financing to its customers with 0 per cent interest rates at extended repayment periods of up to 3 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. “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, ” he added.

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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. This type of car stands out for its resistance and you can exploit it for many years.

“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 during the partnership signing.” By working with Caetano Kenya, we can now offer unique solutions to our clientele that caters to their motor-vehicle needs,” she added.

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. The bank is 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.

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