Toyota Kenya targets insurance brokers with car loans

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• Through the partnership, insurance brokers will enjoy a competitive loan facility while purchasing vehicles.

• The partnership financing offer will go on for the next three months and might be extended depending on the uptake of the insurance brokers.

Toyota Kenya in partnership with Prime Bank to roll out a loan facility for members of the Association of Insurance Brokers of Kenya to buy selected Toyota Kenya vehicles.

The brokers will enjoy a competitive loan facility while purchasing the vehicles, which include the Toyota Rush, RAV4, Fortuner and the Suzuki Ertiga, with a repayment period of 36 months.

“This partnership with Toyota Kenya to is part of our plan to expand the bank’s asset finance portfolio,” said Prime Bank Executive Director Amar Kantaria.

Toyota Kenya Managing Director Arvinder Reel lauded the continued support financial institutions have accorded motor vehicle distributors in helping grow the number of Kenyans acquiring brand new vehicles.

“We believe that these units offer stronger value proposition to customers due to the guarantee of long-term quality performance from the unit as well as the added benefits of a three-year warranty or 100,000km use,” Arvinder added.

The partnership financing offer will go on for the next three months and might be extended depending on the uptake of the insurance brokers.

“It has been hard for brokers to get credit financing for purchasing vehicles therefore we thank Toyota Kenya for this partnership,” said Nelson Omolo, Chairman, Association of Insurance Brokers of Kenya.

“We are excited that insurance brokers will now be able to get vehicles with 100 percent financing to pay within 36months,”Omolo added.

SOURCE: the-star.co.ke


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