Home Business CFAO Motors, Stanbic Bank enter asset finance agreement

CFAO Motors, Stanbic Bank enter asset finance agreement


Consumers seeking to purchase new motor vehicles from CFAO Motors Kenya will have a chance to access full financing from Stanbic Bank Kenya.

This follows an asset finance agreement signed between the two firms which will also offer customers a repayment plan of up to six years.

“This partnership between CFAO Motors and Stanbic Bank will therefore go a long way in easing the financial load on the customer who wish to enjoy the benefits of buying brand new vehicles,” said Joshua Anya, CFAO Motors Kenya Deputy Managing Director.

Under the agreement, customers will access the vehicle asset financing at zero facility fees and receive a 60 and 90-day repayment holiday for passenger vehicles and school buses respectively.

In addition, customers will receive competitive insurance terms facilitated by Stanbic Insurance Agency.

“Stanbic Bank is committed to continue leading the market with customer centric innovations that deliver our customers’ expectations by strengthening our Asset Financing offering,” added Nelly Waithaka, Stanbic Bank Kenya Head of Products.

According to CFAO Motors, buyers will have a wide range of automotive models to chose from countrywide following its partnership with DT Dobie.

The brands under CFAO Motors Kenya and DT Dobie include Toyota, Suzuki, Volkswagen, Mercedes Benz passenger vehicles, Yamaha motorbikes, and the Hino, Hyundai, Sinotruk and Mercedes Benz Actros trucks and buses.

Customers taking up the offer will be required to first visit the CFAO Motors showroom to choose the vehicle they wish to purchase, before receiving an invoice from CFAO Motors that they will present to Stanbic Bank for processing.