Caetano Kenya, the official distributor and car dealer of Hyundai and Renault, has signed a vehicle asset financing partnership agreement with Stanbic Bank. The deal will see the bank offer customers up to 100% financing with no interest rate when purchasing a motor vehicle from Caetano.

The car dealer has an extensive product range for both Hyundai and Renault, in addition to the Sedan, Crater, Tucson, Santa Fe, Palisade and the recently launched KONA Electric from Hyundai.

Additionally, the partnership will offer 80% asset financing to Stanbic Bank customers on select units such as the Renault KWID and Koleos, with no interest rates at extended repayment periods of up to 3 years. This translates to monthly payments of Ksh. 43,333 for 36 months, for a vehicle retailing at a price of Ksh. 1.95 million.

Commenting on the partnership, Pedro Campos, CEO of Caetano Kenya noted, “At Caetano Kenya, we place customer satisfaction at the heart of our priority and is the driving force to the unwavering passion for what we do. This partnership with Stanbic Bank demonstrates our commitment to walking the journey with our customers. Our clients’ financial and lifestyle requirements are ever-changing. Thus, we endeavour to anticipate these dynamic needs and innovate solutions that can fulfil these needs.”

On her part, Lilian Onyach, Head of Consumer and High Net-worth Clients at Stanbic Bank said, “This strategic tie-up with Caetano Kenya is crucial and quite timely, as it will benefit many of our clients who previously would not have been able to acquire assets or financing have access to new and quality vehicles. By working with Caetano Kenya, we can now offer unique solutions to our clientele that caters to their motor-vehicle needs.”

Stanbic’s move to partner with Caetano Kenya aims to ease the burden on their clients and offer them peace of mind that will enable them to focus on growing their businesses. The bank is keen to provide their clients with solutions that allow them to focus on building their capital and growing their businesses.