Africa Automotive News September-October digital issue 2019

NIC Bank, Toyotsu Auto Mart Kenya
ink a financial deal for used vehicles
News
The partnership will guarantee Toyotsu customers up to 90% financing, 60 months repayment period and two months
warranty for vehicles that meet the warranty criteria with an option to extend to one year at a small fee
From left, Godfrey Kioi Managing Director Heritage Insurance, Alan Dodd, NIC Bank Executive
Director, Yoichi Hashimoto Managing Director Toyotsu Automart Kenya Limited singing the
financial partnership at the Toyotsu Automart Kenya Ltd Headquaters, Nairobi, Kenya
NIC bank have signed a partnership
with Toyotsu Auto Kenya Limited
– one of the largest used Japanese
cars dealer in Kenya – to finance and
enable Kenyans to purchase second-hand
vehicles from Japan.
The partnership will guarantee Toyotsu
customers up to 90% financing, 60
months repayment period and two
months warranty for vehicles that meet
the warranty criteria with an option to
extend to one year at a small fee.
Speaking at the signing ceremony of
the financial deal, NIC Bank
Executive Director Alan
Dodd stated that majority of
Kenyans depends on import
of second-hand vehicles and
therefore the partnership was
timely and signed to help
customers purchase quality
second-hand vehicles at
affordable prices through a
secure and transparent agent.
“Many people in this market
depend on the second-hand
vehicle market to own a car.
With this Partnership, we
seek to actualize the dreams
of many Kenyans wishing
to own a vehicle either for
personal use or business
activities at an affordable arrangement.
In addition, this presents yet another
opportunity for us to cement our position
as the leading bank in asset finance in the
country.” he stated.
Dodd further added that the financing
deal is open to both NIC Bank customers
and noncustomers
wishing to import vehicles and
looking to be financed by the bank.
On his part, Toyotsu Auto Mart Kenya
Limited Managing Director, Mr. Yoichi
Hashimoto
From left, Godfrey Kioi Managing Director Heritage Insurance, Alan Dodd, NIC Bank Executive
Director, Yoichi Hashimoto Managing Director Toyotsu Automart Kenya Limited during the
financial partnership signing
said that he was excited to be partnering
with NIC bank and that the partnership
will go a long way in easing the financial
load on their customers.
“Our partnership with NIC Bank is
indeed another seal of approval for
Toyotsu Auto Mart strength within
this trade to meet the local market’s
needs on used vehicles. Through this
partnership, we can assure all our
customers of efficiency and reliability
in handling all the complex stages
of purchasing a pre-owned vehicle
through a transparent process and
assured aftersales support” he stated.
The Toyotsu partnership comes hot
on the heels of NIC Group (Bank and
Insurance) and Heritage Insurance
agreement to offer their customers a
first of its kind telematics motor policy
that rewards good drivers. The strategic
partnership between NIC bank through
their subsidiary NIC Insurance Agents
is poised to avail customers a raft
of benefits including; Discounts on
insurance premium, rewards for safe
driving, simplified claims processing
premium cashback for safe drivers
hence reduced insurance cost based
on feedback on the customers driving
behavior through a Mobile App, Loyalty
program with discounts at various outlets
among others.
On NIC, Toyotsu
partnership, the vehicle
purchase will be handled
wholly by Toyotsu
Auto Mart Kenya who
have approximately
400 vehicles in stock
at any given time and
upon request facilitates
importation on behalf
of clients with special
specifications.
September-October issue l 2019
Africa Automotive News l 2019 5