Now you can drive with a car finance plan.

    December 04, 2015   No comments

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.    
        
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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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