Can you remember that time you thought of getting your first car? You probably had to save for months or even years just to make sure you raise enough money for you to walk into a yard and that dream car.
While some people prefer getting their cars straight from the yard, others actually prefer importing them. The reason most people prefer importing is because they do not have to worry about logistics. This can be done using a financial service provider through import finance. Once all the necessary payments are made, the provider will take care of everything including port charges and makes sure your vehicle is delivered to you.
Import finance is basically a specialized trade finance solution used by financial service providers to finance the purchase and importation of goods from one country or another. So if I wanted to import a car, I could get Ngao Credit to get me that car from its partners in Japan for example. This I can do from the comfort of my home and Ngao Credit will take care of all the importation process.
So why would I use import financing to get my dream car? Well, import financing solves so many challenges you might face when sending money internationally. I mean, you wouldn’t want to send money to a strange company abroad to import a car for you. When you involve a third-party financier they can provide guarantees to both you, the importer and exporter that ensure honest and transparent transactions. It also allows protection against foreign exchange risks. How? Because rates are set at the time of the deal your financial service provider who is the importer and the dealer or factor.
There’s a growing demand for trade financing locally both for businesses and individuals. To meet this demand, and minimize the impact of the local shortage of this type of finance, financial institutions like Ngao Credit offer a range of import financing solutions. Our import finance solution will enhance your ability to get your dream car without too much hassle while also mitigating risk
One of the most common cars imported into the country for the 1st quarter of 2020 are TOYOTA HILUX single cab, Mazda Cab and Subaru Imprezza. If you choose to import any of these cars or any other car using our import financing, we will finance up to 70% the total cost estimate cost of importing the vehicle. We will basically pay duty, port charges and CIF cost on behalf of you, the importer.
You know how anxious you get waiting for your dream car when you start the importation process? We are praying for the days to move fast for that car to get here. On average, it takes 6 to 8 weeks to import a car from Japan to Kenya, this means in about 60 days the car can be delivered to you.
How about the repayment period? Well, our repayments period is flexible with a period of up to 2 years with Interests as low as 3.5%.
All you will need is a jevic, a Japanese Logbook, an IDF, Invoice, PIN and ID of the Consignee who in this case is you, the client. Of course this is after you decide on your car model, required specs and budget.
Import financing covers all other expenses related to your car’s import operations, including freight, customs duties and VAT.
Import financing has always been an ideal financing method than paying cash for your car even if you have enough cash at hand. This is because it provides additional benefits and solves many problems you might face when importing your car.