What is Car Finance?
Car finance refers to the various financial products which allow someone to acquire a car, including car loans and leases.
Best Bank For Car Finance In Kenya
NCBA Bank Car Financing
NCBA Bank is one of the leading banks in Kenya offering car financing services. The bank provides car loans to individuals, companies, and organizations. NCBA Bank offers competitive interest rates, flexible repayment periods, and loan amounts ranging from Ksh. 100,000 to Ksh. 10 million. Besides, the bank has an extensive network of branches nationwide, making it easy for customers to access their services.
I&M Bank Car Financing
I&M Bank is another reputable bank in Kenya offering car financing services. The bank offers car loans to individuals and companies at affordable interest rates. The loan amounts range from Ksh—100,000 to Ksh. 10 million, with flexible repayment periods of up to 60 months. Additionally, the bank has an online car loan calculator that helps customers determine the loan amount and repayment period that suits their budget.
KCB Bank Car Financing
KCB Bank is one of the largest banks in Kenya, offering a wide range of financial services, including car financing. The bank provides car loans to individuals, SMEs, and corporate clients. KCB Bank offers competitive interest rates, loan amounts ranging from Ksh—100,000 to Ksh. 10 million, and flexible repayment periods of up to 60 months. Besides, the bank’s fast loan processing system ensures customers get their loans quickly.
Standard Chartered Bank Car Financing
Standard Chartered Bank is a leading international bank with a presence in Kenya. The bank provides car financing services to individuals, SMEs, and corporate clients. Standard Chartered Bank offers competitive interest rates, loan amounts ranging from Ksh—100,000 to Ksh. 10 million, and flexible repayment periods of up to 60 months. Besides, the bank’s fast loan processing system ensures customers get their loans quickly.
Deposit-Taking Microfinance Institutions (DTMs) offering Car Financing in Kenya
DTMs are microfinance institutions licensed by the Central Bank of Kenya to accept deposits from the public. Besides accepting deposits, DTMs offer various financial services, including car financing. Here are some of the leading DTMs offering car financing in Kenya.
Rafiki Microfinance Bank is a leading DTM in Kenya offering car financing services. The bank provides car loans to individuals and SMEs at competitive interest rates. The loan amounts range from Ksh—50,000 to Ksh. 5 million, with flexible repayment periods of up to 48 months.
Faulu Microfinance
Faulu Microfinance is another reputable DTM in Kenya offering car financing services. The institution provides car loans to individuals and SMEs at affordable interest rates. The loan amounts range from Ksh—50,000 to Ksh. 5 million, with flexible repayment periods of up to 48 months.
SMEP Microfinance Bank
SMEP Microfinance Bank is a leading DTM in Kenya offering car financing services. The bank provides car loans to individuals and SMEs at competitive interest rates. The loan amounts range from Ksh—50,000 to Ksh. 5 million, with flexible repayment periods of up to 48 months.
Credit-Only Microfinance Institutions are offering Car Financing in Kenya.
Credit-only microfinance institutions are Regulated by the Microfinance Act and provide credit services to customers without accepting deposits. Here are some of the credit-only microfinance institutions offering car financing in Kenya.
Mogo Kenya
Mogo Kenya is a reputable credit-only microfinance institution that provides car financing services to individuals and companies. The institution offers loans ranging from Ksh—50,000 to Ksh. 5 million, with flexible repayment periods of up to 48 months. Besides, Mogo Kenya has an online loan calculator that helps customers determine the loan amount and repayment period that suits their budget.
Mwananchi Credit Ltd
Mwananchi Credit Ltd is another reputable credit-only microfinance institution offering car financing services in Kenya. The institution provides loans ranging from Ksh—50,000 to Ksh. 10 million, with flexible repayment periods of up to 48 months. Additionally, Mwananchi Credit Ltd offers personalized financial advice to customers to ensure they make informed financial decisions.
Ngao Credit Ltd
Ngao Credit Ltd is a fast-growing credit-only microfinance institution offering Kenya car financing services. The institution provides loans ranging from Ksh—50,000 to Ksh. 10 million, with flexible repayment periods of up to 48 months. Ngao Credit Ltd’s fast loan processing system ensures customers get their loans quickly.
North Wave Credit Ltd
North Wave Credit Ltd is another credit-only microfinance institution offering car financing services in Kenya. The institution provides loans ranging from Ksh—50,000 to Ksh. 5 million, with flexible repayment periods of up to 48 months. North Wave Credit Ltd’s dedicated customer support team helps customers with queries.
Jijenge Credit
Jijenge Credit is a reliable credit-only microfinance institution providing Kenya car financing services. The institution offers loans ranging from Ksh—50,000 to Ksh. 5 million, with flexible repayment periods of up to 48 months. Additionally, Jijenge Credit has a fast loan processing system that ensures customers get their loans quickly.
How to buy a car on loan in Kenya?
Secure yourself a friendly auto loan with a comfortable repayment period of up to 72 months. All you need is an active KCB account for at least 3 months and proof of security, and you’ll be on cruising with your dream car.