CMC motors, Stanbic Bank in deal to provide financing for ford vehicles

NAIROBI, Kenya, March 15 – CMC Motors Group has entered a partnership with Stanbic Bank to launch Ford Finance aimed at enabling clients to access competitive and flexible financing solutions for Ford vehicles in Kenya.

The partnership, a first-of-its-kind joint venture between a vehicle dealership and financial partner, will see the Ford Motor Company, CMC Motors Group Limited, Stanbic Bank Kenya, and Standard Bank of South Africa, come together to enable clients within Kenya to afford new Ford units.

Speaking at the launch of the Partnership, CMC Motors Group CEO, Alan Crossan said under the deal, customers will enjoy interest rates as low as 10.71 percent and comfortable repayment tenures of up to 60 months with no collateral required to access the asset.’’

“This initiative comes at a good time when the economy is steadily recovering from the harsh effects of the Covid-19 pandemic. This will be a sigh of relief,” he said.

Stanbic Bank Kenya Head of Business and Commercial Clients, Florence Wanja said the partnership will be important in enabling our clients to gain access to new units that will give them service for longer with less downtime, thereby increasing productivity.

“We are proud to be associated with the Ford brand and CMC Motors group with whom, we believe, we can enable Kenyans to acquire brand new vehicles at affordable pricing and with flexible financing options.

The partnership that was kick-started today will see customers access financing for Ford units and enjoy interest rates as low as 10.71% on a reducing balance basis for up to a period of 60 months.