Stanbic Bank has partnered with motor dealer CMC Motors Group to offer financing to customers buying Ford vehicles over the next two-and-half months.
Customers are set to receive 100 percent financing in the payment scheme that will require buyers to repay the loan in six years.
Stanbic is set to charge customers 13 percent per annum on the loans and make a one percent facility fee one-off upfront payment.
Stanbic Bank has partnered with motor dealer CMC Motors Group to offer financing to customers buying Ford vehicles over the next two-and-half months.
Customers are set to receive 100 percent financing in the payment scheme that will require buyers to repay the loan in six years. Stanbic is set to charge customers 13 percent per annum on the loans and make a one percent facility fee one-off upfront payment.
Buyers will also have a 60-day repayment holiday and insurance will be issued through sister firm Stanbic Insurance Agency.
“CMC Motors Group is one of our valued partner and client. We will continue to further strengthen our ties and collaborate in ensuring that our mutual clients get access to financing for quality vehicles,” said Stanbic Bank head of business banking Tom Bisonga.
“Our customers are our biggest concern always and we strive to ensure that they are supported, by giving them easier options when purchasing these vehicles.”
Ford pick-ups and saloon cars are the fastest-selling brands in Kenya for CMC. The brand remains the most important franchise for CMC, which also sells Mazda, UD, Eicher, Renault Trucks and New Holland vehicles. CMC recently lost its exclusive rights to distribute Suzuki vehicles after Toyota Kenya was appointed the second local dealer.
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