Under the partnership, NIC will provide 95 per cent financing over a flexible repayment period up to five years for commercial vehicles and six years for saloon cars.
NIC Bank has entered into an asset financing deal with auto firm Simba Corporation to enable customers secure new Mitsubishi vehicles.
Under the partnership, NIC will provide 95 per cent financing over a flexible repayment period up to five years for commercial vehicles and six years for saloon cars.
In addition, customers will receive free vehicle tracking from Africa Fleet Management Services, and free comprehensive insurance cover during the first year of ownership.
“The bundled package will have a turnaround-time of 48 hours and interest of 9.91 per cent which is very competitive in the current market,” NIC bank said in a statement to newsrooms.
Simba Corp is also offering a 20 per cent cut for parts purchased under the bundled package.
“We have embarked on a long term strategy to enter into strategic partnerships with like-minded partners to enable our respective customers to get value for their money,” Simba Corporation executive director, Dinesh Kotecha said.
The partnership is the latest in a series in which Simba Corporation has signed in a bid to bolster its position in the market.
The motor dealer recently announced a partnership with Jubilee Insurance to offer a one-year free cover to customers who purchase its new Mitsubishi SUV L200.
The firm also has a pact with Vivo Energy Kenya that will enable Vivo access tailor made vehicle leasing solutions from Simba Corporation.
The corporation also partnered with Family Bank for asset financing for consumers intending to purchase commercial vehicles.
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