If you’re thinking of buying a car, chances are you might be considering import financing. Import financing has the advantage of spending less money than when buying directly from a local dealer.
Imported cars are also generally of better quality than locally used cars because they are well maintained and can be modified specifically to suit your needs. This among other things is what will make you really think about importing your dream car.
Even with these pros, importing a car has its own cons with one of the main ones being the importation process. The entire process is very long and cumbersome, which is why some people would rather pay more for a locally used car than go through the entire importation process.
What many car buyers may not be aware of, however, is that there are local financial institutions that are ready to bear the importing burden on their behalf, making this process seamless as well as helping them save money by the use of Import financing services. A very good example of such a financial institution is Ngao Credit which can finance up to 70% of the value of the car you are importing and 100% duty finance if the car is already at the port. This will, however, depend on the car model. Ngao Credit will also offer a flexible repayment plan of up to 24 months.
Import financing is a specialized trade finance solution used by financial service providers to finance the purchase and importation of goods from one country or another. It is a short-term credit facility meant to finance the entire purchase and importation process and port charges on behalf of importers.
The aim is to facilitate fast settlement of duty charges at the Kenya Revenue Authority (KRA) and other government bodies to avoid delays. It is a short-term type of financing provided by a third party. So, if I wanted to import a car, I could get Ngao Credit to get me that car from its reliable partners in Japan for example from the comfort of my home and Ngao Credit will take care of all the importation process. Ngao credit will pay, arrange for shipping, clear the car for you and deliver it to you at your convenience.
Ngao Credit offers 100% financing on duty and port charges for imported cars in just 48 hours. All you will need to provide is:
- Bill of lading
- Japanese Logbook
- PIN & ID of Consignee (Client)
Ngao Credit’s import financing service helps you raise capital and pay for your imported car at the port. We have all had cases of KRA seizing vehicles after importers failed to raise the required fees for clearance. This type of financing helps you clear your vehicle within the shortest time possible.
Another advantage is that as the car buyer, you pay back the money in instalments of up to 24 months. You also have a variety of vehicles to choose from Ngao’s reliable dealers and apart from paying, the company will also take care of all the logistics which include shipping, clearance as well as delivery.
Import financing provides additional benefits and solves many problems you might face when importing your car.