Family Bank has partnered with World Navi to offer customers in Kenya a convenient way to import quality second-hand vehicles. Through this collaboration, customers can access up to 80% asset financing and 100% import duty financing, with repayment terms of up to 48 months. The financing will enable individuals, motor vehicle dealers, and Small Medium Enterprises (SMEs) to import vehicles directly from countries like Japan, Thailand, Singapore, and South Africa. Additionally, customers will receive a guaranteed 90-day warranty on the imported vehicle, along with car valuation, tracking, and comprehensive insurance upon arrival.
Kenya’s car market is dominated by second-hand vehicles, making up 85% of car purchases, with an annual import of up to 90,000 units, with most imports originating from Japan. The partnership aims to ease the high costs associated with car importation by providing affordable financing and a seamless importation process. Family Bank’s Chief Financial Officer, Stephen Karumbi, believes this will empower businesses in various sectors, such as logistics, transport, tourism, construction, manufacturing, education, and trading.
The partnership with World Navi ensures customers enjoy quality assurance through physical inspections, quick shipments, and warranties on engine transmission, mileage, and accident-free certification. The collaboration also includes a free vehicle service upon collection and a free full tank of fuel. This move demonstrates the bank’s commitment to deliver world-class services with distinction and provide opportunities for growth and development to its customers.