Stanbic Bank Kenya and Salvador Caetano Kenya have announced a significant expansion of their vehicle financing partnership.
By pooling their resources, the two institutions are offering a financial cushion designed to drive growth across the transport, trade, and commercial sectors.
The cornerstone of the revised agreement is the removal of traditional barriers to entry. Customers looking to purchase vehicles from Salvador Caetano’s diverse portfolio can now access:
- 100% Financing: Eliminating the need for a hefty upfront deposit.
- Extended Tenure: Repayment periods have been pushed to 96 months, significantly lowering the monthly installment burden.
- Zero Facility Fees: Reducing the total cost of credit at the point of entry.
- 60-Day Repayment Holiday: A grace period that allows buyers to put their vehicles to work before the first installment is due, easing short-term cash flow pressure.
Florence Wanja, Regional Head of Business and Commercial Banking at Stanbic Bank East Africa, emphasized that the deal is a direct response to the affordability constraints currently facing the market.
“Extended tenures, zero facility fees, and full financing materially lower the cost of asset acquisition for our customers,” Wanja stated. “This partnership strengthens our role in supporting enterprise growth, productivity, and long-term investment.”
Aurelien Glay, Managing Director of Salvador Caetano Kenya, added that the framework was built with the buyer’s business cycle in mind. “By combining flexible repayment periods with a grace period of up to 60 days, this partnership will enable customers to better align vehicle investment with business performance,” he noted.
Salvador Caetano Kenya is the local distributor for a several automotive brands, including Ford, Hyundai, Kia, Renault, JMC, and Chery. The financing deal applies across these brands, covering passenger cars, heavy-duty commercial vehicles, and the increasingly popular electric vehicle (EV) segment. The deal includes electric models like the Hyundai Kona and Kia EV5.