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insurance brokers will be able to access loans  while purchasing vehicles that include the Toyota Rush, RAV4, Fortuner and the Suzuki Ertiga, with a repayment period of 36 months/COURTESY

Kenya

Toyota, Prime Bank partner to offer car loans

insurance brokers will be able to access loans  while purchasing vehicles that include the Toyota Rush, RAV4, Fortuner and the Suzuki Ertiga, with a repayment period of 36 months/COURTESY

NAIROBI, Kenya, Jul 23 – Toyota Kenya has partnered with Prime Bank in rolling out the New Drive Loan Facility that will allow Association of Insurance Brokers members get up to 100 percent financing towards the purchase of selected Toyota Kenya vehicles.

Through the partnership, insurance brokers will be able to access loans  while purchasing vehicles that include the Toyota Rush, RAV4, Fortuner and the Suzuki Ertiga, with a repayment period of 36 months.

Prime Bank Executive Director Amar Kantaria said the partnership between Toyota and Prime Bank is part of the bank’s plan to expand its asset finance portfolio.

On his part, Toyota Kenya Managing Director Arvinder Reel said the partnership would help grow the number of Kenyans acquiring brand new vehicles.

“We believe that these units offer stronger value proposition to customers due to the guarantee of long-term quality performance from the unit as well as the added benefits such as 25,000km or one-year free service and a three-year or 100,000km of use warranty. Partnerships with institutions like Prime Bank make this process more favourable for the potential consumers,” he said.

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