Toyota Kenya has partnered with Ecobank to offer auto loans to their customers to purchase brand new cars. The deal will see customers repay their loans within 84 months, equivalent to seven years.
Under the new financing deal, customers who purchase any Suzuki or Toyota models from Toyota Kenya will enjoy up to 90% financing from Ecobank, with a 7-year repayment plan. They will also receive a 4 year first-class service plan or 60,000 kilometer mileage equivalent, whichever comes first.
Speaking at the partnership agreement signing, Toyota Kenya Managing Director Arvinder Reel said, “Local demand for vehicles whose engine capacity ranges from 1000 CC to 1600CC for day-to-day use is quite high due to their affordability, fuel efficiency and convenience. Considering the prevailing economic conditions, we want to ensure our customers enjoy peace of mind while driving by extending to them a longer after sales service period of up to 4 years.”
On his part, Ecobank Kenya Managing Director and Regional Executive CESA, Mr. Cheick Travaly noted, “Car ownership has now become a reality to most of our customers since they only need to raise 10% of the car value and we will top up the balance through affordable loans of up to 13% p.a. interest rate and repayable in seven years. The long repayment period will greatly improve customers’ cash flow since it will give them access to more capital.”
In addition to purchasing affordable vehicles, Suzuki offers quality service and vehicle maintenance at the Toyota Kenya (TKEN) networks of 31 centers. This includes branches, authorized dealers, and service centers across the country.