Asset Finance Loan: Drive Your Dream Car with Flexible Financing

Are you ready to own a high-quality private car? The Asset Finance Loan provides members with the opportunity to purchase vehicles through co-ownership with the Sacco. This facility is designed to make car ownership accessible and affordable, whether you’re eyeing a brand-new car or a reliable used one.

Key Features of the Asset Finance Loan

• Generous Loan Amounts: Secure financing of up to 3 times your deposits, ensuring substantial support for your car purchase.

• Flexible Repayment Period: Repay the loan over an extended term of 48 months, giving you the time to manage your finances with ease.

• Affordable Interest Rates: Benefit from a competitive interest rate of 1% per month on a reducing balance, making this loan cost-effective for members.

• Security Requirements: The original logbook serves as security for the loan, ensuring a straightforward process.

• Financing Options:

  • New Vehicles: Sacco finances up to 90% of the vehicle’s value.

  • Used Vehicles: Financing is available for up to 80% of the vehicle’s value, giving you flexibility in your choice.

• Loan Amount Range: Access financing from KES 300,000 up to a maximum of KES 7 million, covering a wide range of vehicle options.

• Vehicle Age Limit: Eligible vehicles must not exceed 9 years from the manufacturing date.

• Required Documentation: Applicants must attach a valuation report, transfer forms, or import documents during the application process.

• Disbursement Timeline: Funds are disbursed within one month, ensuring timely access to your dream car.

• Insurance Coverage: Comprehensive insurance is mandatory and must be obtained through the Sacco’s appointed insurance agents.

• Importation Documents: For imported vehicles, import documents are required to ensure compliance with guidelines.

• Savings Requirement: Applicants must have saved consistently for at least 6 months (BOSA) to qualify.

• KRA PIN Requirement: Both the buyer and seller must provide their KRA PIN unless the car is imported through AA Japan or Maridady Motors.

• Additional Costs: Members will bear costs related to the logbook and car tracking charges, ensuring the vehicle’s security.

• Transfer Forms: Duly signed transfer forms must be submitted, with charges applied based on prescribed KRA rates.

Why Choose the Asset Finance Loan? This facility is designed to offer members a convenient and cost-effective path to owning a private car. Whether you’re purchasing a new vehicle or a used one, the Asset Finance Loan makes the process seamless by providing substantial financing, affordable terms, and flexible repayment options.

Apply Today and Take the Wheel! Take advantage of the Asset Finance Loan and drive off with the car of your dreams. Enjoy fast processing, comprehensive coverage, and a financing solution that’s tailored to your needs.