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NIC, CMC enter a financing deal for Ford Ranger vehicles

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CMC Motors, the sole distributor of the Ford Ranger vehicles, and NIC Bank have signed a partnership agreement that will see CMC- Ford customers receive up to 95% financing on all Ford ranger vehicles, payable within 60 months, in an effort to grow the uptake of commercial motor vehicles in the country.

This promotion scheme will ease the acquisition of Ford Ranger vehicles as customers will be able to enjoy; Maximum loan tenure of 60 Months; 60 days repayment holiday after vehicle release and insurance services arranged through NIC Bank.

Speaking at the signing ceremony of the financing deal, CMC Motors Group CEO Noel Mabuma said that given the vast expertise in financial services from Al Futtaim, CMC is proud to launch the interest subvention scheme that will ease the acquisition of the Ford range of vehicles.

How does it work?

  • Customers will enjoy financing of up to 95% for all Ford Ranger vehicles
  • Maximum loan tenure will of 60 Months
  • 60 days repayment holiday after vehicle release
  • All insurance will be arranged through NIC Bank

“A Ford Ranger customer for example who seeks to purchase a vehicle worth Ksh 4,395,000 will only be required to pay Ksh 95,000 for a period of 60 months. His/her first payment will only be required after 60-days of vehicle delivery.”

With the current financial support coupled with Ford Protect, it is now even easier to own a Ford with peace of mind through CMC, Ford and NIC Bank.

Ford Protect is a maintenance and service plan available for any Ford in the model line up in Kenya. With Ford Protect, all the owner needs to think about is driving, insurance cover and tire replacement. You can choose the premium service offering from 3 years/60,000kms to 8 years/300,000kms. The reason for this is the confidence behind the robust workmanship of the products.

Ford protect can be bundled in the CMC-NIC financing plan and for any Ford Everest and Ranger double cab, it is free for 3 years/100,000kms whichever comes first.

On his part, NIC Bank Executive Director Alan Dodd said that he was excited to be partnering with CMC, one of the foremost automobile brands in the country and that the partnership demonstrates their shared goal of empowering small businesses to grow and expand. He further noted that the deal will reinforce NIC position as the leading bank in asset finance in the country.

“By virtue of our strengths in our product offering, this strategic partnership for all Ford Models presents a strong value proposition to SMEs and individual customers who are keen on expanding their businesses and buying new assets but face strained cash flows due to ever fluctuating economic situations in the business environment,” said Dodd.

Read: Statistics office: 8.4 million jobs created in 2018

He further added that customers will now be able to apply for asset finance loans through the newly launched online portal that is available on the bank’s website. Through this, customers will get approvals in 24 hours, the quickest turnaround time in the market.

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