CarMax adopts online auto financing platform

CarMax,the world's largest secondhand car dealer and financier based in the US,has kicked off moving its auto finance applications online,said the management in a conversation with Reuters.

The move was as a result of a fall in auto finance sales due to the less accessibility to the lending facility.

CarMax has a subsidiary in Kenya,CarMax EA,which serves the whole of East Africa region.As dwellers of the region,we highly expect the online car loan application platform will also be available to us.CarMax EA have been giving auto finance loans to Kenyans through partnerships with commercial banks like Family Bank and Cfc Stanbic just to mention a few.

The online loan application will enable borrowers to pre-qualify before visiting a CarMax store.Pre-qualification gives the customer confidence as he or she visits the showroom.

Energy loan products and financiers in kenya

Energy loans are credit arrangements by lenders and or energy solution companies to offer energy equipments to Kenyans .The energy solutions can be provision of  improvised cooking stoves,biogas,solar lighting systems or connection to electricity lines.

In Kenya, majority of the citizens live in the rural areas where these energy assets are commonly scarce or absolutely absent.As Loans Kenya,we have listed some of the companies that can give energy loans.See if you can get help from them.

Equity Bank
The Equity bank provide the following energy credit solutions;

• Stima  loan- in partnership with Kenya Power and Lighting Corporation (KPLC),the bank gives loans to clients looking for electricity connection.
• Jikokoa loan- in partnership with Burn Manufacturing, the lender gives loans to enable customers to get the improvised cooking stoves dubbed 'jikokoa'.
• Hashi Gas Financing- The bank gives loans to enable its clients get Hash Gas cylinders.
• Chloride Exide Battery - in partnership with Chloride Exude,Equity bank give a credit plan to enable customers to get car batteries.
• Orb Energy loans- the bank in partnership with Orb Energy enables borrowers to get solar panels and heaters on credit.

Safaricom.
Safaricom in partnership with M-kopa Solar,gives out Solar kits on credit.Payments is done through the phone in form of m-pesa.The latest m-kopa solar kit is the M-kopa solar 4.

Zawadisha.
Zawadisha gives out solar lamps and modern cooking stoves on credit.

TakaMoto Boigas.
They provide biogas solutions on credit. Call them on 0738689788.

KWFT.
The Kenya Women Finance Trust MFB provides three energy loan facilities. They include ;Stima Loan,LPG Gas loan and Biogas loan.

Jamii Bora Bank
Jamii Bora MFB provide Stima Loan.

PowerGen Renewable Energy.
This energy company provide solar panels and batteries on credit arrangements.

MicroEnergy credits.
Through the Equity bank,MicroEnergy credits provide solar panels ,water heaters and modern cooking stoves on credit terms.

Eco Zoom.
This energy company provides portable wood burning rocket stoves on credit arrangements.

One Degree Solar.
One Degree Solar provide solar panels on credit terms.Reach them on 0725988021 or send a free SMS to 20181.

Barefoot power.
Barefoot power gives solar kits on credit.

Housing finance .
Housing finance kenya provide solar heaters on credit .

The list is not exhausted. If we left out any ,give us the name.

Sidian bank car loans in kenya

Car model

If you are looking for a car loan especially for taxi puporse,then Sidian bank car financing can be the right choice.Uber car drivers are the main target of this loan facility provided by the lender.

Loan Properties
The maximum loan amount that a borrower can apply for is ksh1.5 million.The interest rate is the lowest in history at 10.5 percent per annum.The repayment duration is within three years.

However, the above conditions apply to Uber Car drivers only.Non Uber car drivers will be expected to have a good credit report and be able to raise 10percent of the car value to qualify as a borrower.

Contact Sidian bank.

Motor Bike/Cycle -Boda Boda Loans In Kenya

motor bike

Where to get boda boda or motor cycles on credit terms in kenya?Who are the best Motorcycle loan lenders in kenya?The boda boda business is already at its peak in kenya.There's no doubt, the kenyan youths are already earning a living riding the most common motor bike makes from Bajaj,Haojin,Honda motor companies, and the motor bike owners are earning profits daily.For this reason, many Kenyans have wanted to venture into this business. They therefore wanted to know where they can get motorcycles however on credit but with the best affordable rates.


Must read Car loans from dealers

In Kenya there are different types of lenders who are providing boda boda asset financing facilities. It all depends with your financial ability weighted in terms of the capability to repay the loan.This will include but not limited to employment status, business ownership and credit score.

Read also Loans for blacklisted people in kenya

Let's look at the potential lenders that provide motor bike financing.

Savings Societies
Saccos are the easiest places to get a boda boda loan.As a member, you have a voice and fellow members already know you better. Interest rates are low.Some big saccos like Imarika and Faulu and kwft have well defined motorcycle loan faculties. If the boda boda loan facility is not readily made ask for it.Imarika's Jiajiri leo and Faulu/Kwft boda boda loans are currently the best examples.

Non Deposit taking lenders
If you are permanently employed, 'lending only' popularly non deposit taking financiers like platinum credit kenya and Real people kenya can give out loans to purchase motor cycles. The advantage with these lending institutions is that they loan processing and disbursements is quick and takes less than 24hrs.Platinum credit's asset finance' facility is currently the talk of the town.

Motor cycle dealers
Motor cycle dealers like Honda,General Motors(GM),Dt Dobie,Toyota &Toyotsu and Car and General(C&G) can on special arrangements, give out motor cycles on credit. This arrangement usually involves the customer, his/her bank and the motor cycle dealer.

Commercial banks
Almost all commercial banks in Kenya this loan facility. Its popularly known as 'asset finance' in general or 'motor loans' specifically for movable assets. Banks can therefore partner with a motorcycle dealer which will give out the motorbike or simply give out cash to the borrower who will then buy the motor cycle from any preferred motor dealer.Asset financing from commercial banks is rarely 100% the value of the motor cycle.If interested, you can ask your bank about this loan facility.

That's enough for now though there other sources of general loans in Kenya. Read now Kenyan sources of loans

M-kopa 4 Solar From Safaricom

M-kopa Solar panels are offered in some kind of credit basis in partnership with safaricom limited though cash purchasing is also allowed. The latest generation of m-kopa solar is here and it's named M-kopa 4 solar.The number 4 in the name should represent 'fourth generation' after m-kopa 1,m-kopa 2 & m-kopa3.

M-kopa 4 Features
It consists of one solar panel (8W),two improved light bulbs with cables and switches, one improved solar rechargeable torch, one improved solar rechargeable radio, 5-in-1 charging cable and 16'' digital TV available from mid- 2016.Mkopa 4 is fully upgradeable allowing more light bulbs for customers who buy on cash purchase or can pay instalments within less than 365 days.

mkopa solar

.


How to buy M-kopa 4 solar
Where to buy Mkopa solar? Visit any mkopa agent near your or any safaricom retail outlet in your location. You can choose to pay in full instantly at ksh17750 and qualify for upgrading or pay a deposit of ksh3500 and pay the rest at ksh50 per day for a duration of 365 days(one year) through mpesa to M-kopa Paybill number 333222.

For more information
For more information visit any mkopa dealer near you or any safaricom retail shop or Send an SMS with the word 'buy' to 22363 and wait for a call.

Now you can drive with a car finance plan.

With an auto loan you can be on the road. Most young salaried Kenyans dream of financing the purchase of their own transport to avoid the usually noisy and untidy public transport.Lenders already spotted that and came up with special asset finance packages dubbed 'car loans', 'auto loans' or 'car finance'.These loans are targeting individuals.
See also Auto finance /asset finance to corporates.
Lets step into Barclay's Bank of Kenya. Barclay's bank offers an auto loan to salaried individuals holding salary accounts with the bank.

AUTO LOAN.
-This loan is to finance the purchase of motor vehicles or autoparts.
-Purchased vehicle if old must not be older than 7 years.
-The car logbook or autoparts purchased will act as collateral.
-Auto loan includes an affordable life insurance which is what I like about Barclay's bank loans.This insurance keeps safe your property incase of death or total disability to the borrower.
-The loan amounts ranges from ksh400000 to ksh6million to be repayed within less than 60months as loan duration.
-Borrower will enjoy uninterupted use of vehicle for an only that affordable monthly payment when repaying the loan.
-The loan interest rate ranges from 22.5% to 22.5%pa.
REQUIREMENTS.
-Borrower must deposit a minimum of 20% of the loan amount to be asked for.
-Client must be a salaried individual earning an income of more than ksh50000 monthly.       
Do you know how to drive? Remember to drive safely.
Any more personal queries? Drop a comment below.
Good luck.    
        

Dealer Car Financing In Kenya

Kenyans would always use their banks or chamas to apply for a car loan.That's okay but there are car dealers who can offer vehicle financing at economically friendly terms.
(1) Toyota Kenya

toyota logo

Toyota Kenya car financing dubbed Tsusho capital, enables every Kenyan individual or business/company to own a vehicle at an interest rate of 18%per annum.Tsusho capital grants the borrower access to after sale services and vehicle maintenance just like a dealer and the loan can be repaid within up to 5 years. The best part of this loan package is that the borrower is free to use their bank to apply for other credit facilities because Toyota kenya will leave the bank credit line open!

Documents
Individuals should provide the following ;
National ID and PIN
Latest six months bank statements
Latest three months pay slips.
Business/Company should provide the following ;
Certificate of registration
PIN certificate
Memorandum and Articles of Association
Six months bank statements
Director's ID and PIN
Latest three years financial statements

How to apply
Visit WWW.toyotakenya.com to apply online or call these numbers to enquiry ;
0717572400,0735258498,0722807323.
Call Toyotsu auto mart kenya on 0711050000

(2) DT Dobie

DT Dobie kenya

A subsidiary of Cfao-automotives, Dt Dobie (driving with confidence) have partnered with several banks and micro finance institutions in kenya to provide tailor made car finance solutions to their clients.
Call these numbers for any enquiries :
Nairobi -0711057000/100/200/500
Mombasa -0719076000 or 0733332778

(3) General Motors [GM]
General Motors East Africa provide various car financing schemes in partnership with various Kenyan financial institutions. All financing schemes are tailor made as per the client needs.
Contact Nairobi Main reception on 0703013111 or Sales reception on 0703013222

(4) CarMax
Providing maximum deals in cars, CarMax East Africa partnered with Family bank, Cfc Stanbic bank, Chase bank, NIC bank, Cooperative bank, KCB and Equity bank to give car financing to clients of all levels of income. CarMax allows customers to buy on hire purchase terms to be repaid in 12,24,36 or 48 monthly instalments.
Contact
Mombasa road branch - 0722702438,0722606329,0720352722
Langata road branch -0722320054,0721566338
Ngong road branch -0722510156,0720392386,0725272333

(5) Caza
Caza is a car financing agent for both new and used vehicles. Borrowers can apply online on WWW.caza.co.ke and Caza will match your needs with the best auto financing company that best fits your needs.
Call for enquiries ;0727710803 or 0724559878