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DT Dobie, Stanbic Bank Sign Vehicle Asset Financing Pact – Kenyan Business Feed

Published

4 years ago

December 8, 2021

KBF

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DT Dobie and Stanbic Bank Kenya have today signed a partnership agreement to offer Vehicle Asset Financing for the purchase of Mercedes Benz, Volkswagen and Hyundai personal and commercial vehicles.

Under the agreement, Stanbic bank will provide up to 100 percent financing for personal vehicles and up to 90 per cent for commercial vehicles with a 60 month-loan repayment period.

The partnership will also offer DT Dobie customers a discounted loan-processing fee at 1.5 per cent at an interest rate of 13 per cent per annum. Furthermore, clients will also enjoy a 45-day holiday period.

Peter Wanjala, Finance Director at DT Dobie said, “The Volkswagen and Mercedes have proven popular with passenger vehicle buyers while Hyundai has been a favourite commercial light truck. Hyundai light trucks range from 3.5 to 9 tonnes. Key attributes of the vehicles are an extra-long chassis, superior fuel efficiency, powerful exhaust brake and hydraulic power steering among others. The trucks carry a three year, or 100,000-kilometre warranty which clearly illustrates the confidence of the Hyundai Motor Company.’’

Stanbic Bank Kenya Head of Engineering Catherine Muraga(Second right) General Manager Mercedes Benz and Volkswagen – DT Dobie Kenya, Roy Kyalo(First Left), Stanbic Bank Kenya Head of Vehicle and Asset Finance, Kimani Njagi(Far Right) and Senior Sales Executive DT Dobie Kenya, Lawrence Kiambati, (Far Left) during the signing of Memorandum of Understanding between Stanbic Bank Kenya and DT Dobie Kenya.

Speaking during the event, Head of Engineering at Stanbic Bank Kenya, Catherine Muraga said, “Through this partnership with DT Dobie, we can offer unique solutions to our clientele to cater for their motor-vehicle needs. We have, this far, been able to provide solutions to hundreds of individual customers and companies to acquire quality vehicles in an easy and convenient manner by making the process of loan application as painless as possible.

About DT Dobie

Colonel David Dobie, a veteran of World War II, started DT Dobie in 1949. From humble beginnings, the company opened with the Mercedes-Benz franchise for East Africa which included both passenger and heavy commercial vehicles.

In 2014 the Company was appointed the franchise dealers for Volkswagen passenger cars and light commercial vehicles.

Since 2016 the Volkswagen Polo Vivo has been assembled locally by KVM at Thika and more recently the Tiguan and Touareg are also assembled by KVM.

Stanbic Bank Kenya Head of Engineering Stanbic Bank, Catherine Muraga (First left) and General Manager Mercedes Benz and Volkswagen at DT Dobie Kenya, Roy Kyalo (First Right). Looking on is Head of Vehicle and Asset Finance Stanbic Bank ,Kimani Njagi (Far Left) and Business Development Director Mercedes Benz-DT Dobie Kenya, Dale Slee (Far Right)during signing of a Memorandum of Understanding (MOU) between Stanbic Bank Kenya and DT Dobie Kenya.

Hyundai light trucks are also sold and serviced by DT Dobie and have been assembled locally for eight years.

DT Dobie has state of the art after sales and service facilities in Nairobi and at branches in Mombasa, Nakuru and Kisumu with dealers and service centres countrywide. The workshops are staffed by factory trained engineers and technicians backed by stocks of genuine spare parts

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