NIC Bank, Toyotsu Kenya ink financing deal for used vehicles

By / September 17, 2019 : 12:11 / BUSINESS, Corporate News / No Comments
NIC Bank, Toyotsu Kenya ink financing deal for used vehicles

NIC bank has signed a partnership with Toyotsu Auto Mart Kenya Limited – one of the largest used Japanese cars dealer in Kenya – to finance and enable Kenyans to purchase second-hand vehicles from Japan.

 

The partnership will guarantee Toyotsu customers up to 90% financing, 60 months repayment period and two months warranty for vehicles that meet the warranty criteria with an option to extend to one year at a small fee.

 

Speaking at the signing ceremony of the financing deal, NIC Bank Executive Director Alan Dodd stated that majority of Kenyans depend on import of second-hand vehicles and therefore the partnership was timely and designed to help customers purchase quality second-hand vehicles at affordable prices through a secure and transparent agent.

 

“Many people in this market depend on the second-hand vehicle market to own a car. With this Partnership, we seek to actualize the dreams of many Kenyans wishing to own a vehicle either for personal use or business activities at an affordable arrangement. In addition, this presents yet another opportunity for us to cement our position as the leading bank in asset finance in the country.”

he stated.

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Dodd further added that the financing deal is open to both NIC Bank customers and non-customers wishing to import vehicles and looking to be financed by the bank.

 

On his part, Toyotsu Auto Mart Kenya Limited Managing Director, Mr. Yoichi Hashimoto said that he was excited to be partnering with NIC bank and that the partnership will go a long way in easing the financial load on their customers.

 

“Our partnership with NIC Bank is indeed another seal of approval for Toyotsu Auto Mart strength within this trade to meet the local market’s needs on used vehicles. Through this partnership, we can assure all our customers of efficiency and reliability in handling all the complex stages of purchasing a pre-owned vehicle through a transparent process and assured aftersales support”

he stated.

From Left: Heritage Insurance Managing Director Godfrey Kioi, NIC Bank Executive Director Alan Dodd and Toyotsu Auto Mart Kenya Limited Managing Director, Mr. Yoichi Hashimoto during a signing of a partnership to finance and enable Kenyans to purchase second-hand vehicles from Japan. NIC Group and Heritage Insurance have also entered into an agreement to offer their customers a first of its kind telematics motor policy that rewards good drivers. PHOTO/COURTESY

 

The Toyotsu partnership comes hot on the heels of NIC Group (Bank and Insurance) and Heritage Insurance agreement to offer their customers a first of its kind telematics motor policy that rewards good drivers. The strategic partnership between NIC bank through their subsidiary NIC Insurance Agents is poised to avail customers a raft of benefits including: Discounts on insurance premium, rewards for safe driving, simplified claims processing, premium cashback for safe drivers hence reduced insurance cost based on feedback on the customers driving behaviour through a Mobile App, Loyalty program with discounts at various outlets among others.

  RELATED: NIC Bank, Toyota Kenya launch one-of-a-kind financing scheme

On NIC, Toyotsu partnership, the vehicle purchase will be handled wholly by Toyotsu Auto Mart Kenya who have approximately 400 vehicles in stock at any given time and upon request facilitates importation on behalf of clients with special specifications

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