NIC Bank customers get loans to buy Nissan vehicles

A Nissan X-Trail vehicle. PHOTO | FILE | NATION MEDIA GROUP 

In Summary

• The bank said it will offer an 18 per cent annual interest rate compared to the current 21 per cent saying the move was aimed at growing their asset finance business.
• The partnership also covers other Nissan units including the Single and Double Cabin Pick-up units as well as the Nissan Patrol

By JAMES KARIUKI
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NIC Bank Asset Finance has signed a pact with Nissan Kenya enabling their customers to acquire the Nissan Third Generation X-Trail model on subsidised credit terms.

The deal signed by Nissan Kenya Managing Director Solomon Osundwa and NIC Bank’s Director of Corporate Banking Alan Dodd will see NIC Asset Finance offer customer’s 90 per cent financing for a five-year period for the vehicle thereby enhancing their product offering in the market.

Speaking during the signing of the partnership and launch of the new Nissan X-Trail model Mr Dodd welcomed the partnership saying it will help their customers acquire new vehicles that will render good service at much lower costs.

The bank said it will offer an 18 per cent annual interest rate compared to the current 21 per cent saying the move was aimed at growing their asset finance business.

The partnership also covers other Nissan units including the Single and Double Cabin Pick-up units as well as the Nissan Patrol Mr Osundwa described the move as a win-win situation for all parties since customers will also enjoy subsidised aftersales services for the vehicles they buy at their outlets