Kifedha Credit Local Car Finance: Product Details & How to Apply

Rates available from as of 1st April 2021
Customise your results to find loans you're eligible for by answering 5 more questions
Customize Results
Money254 strives to provide relevant and accurate product information, which Money254 obtains directly from each institution’s tariff guide. If you believe a product’s details are incorrect, please report the product to Money254.

Kifedha Credit

Local Car Finance
Easy Apply
Amount
Up to 50% of car's forced sale value
Duration
1 month - 1.5 years
Interest Rate
Total Cost Including Institution's Other Fees
5% per month + 10k upfront fees
No CRB check required
visit website
Easy Apply

Loan Type

Car Loan

Loan Cost

  • Monthly Interest: 5%
  • Processing Fee: ksh2400 for loans below 500k and 4800 for loans above 500k
  • Insurance: 0
  • Late fees: 10% of monthly installment

Additional Third-party fees:

  • Valuation:ksh3000
  • Logbook In-charge: ksh2000
  • Car Tracker Installation: ksh3000
  • Logbook Search: ksh2000

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 60%
  • Total Third-Party Fees (See Cost Breakdown): Ksh10,000
  • Total Loan Repayment Amount: Ksh160,000
  • Monthly Loan Repayments: Ksh13,334

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • Car Age: No Limit
  • % Financed: 50% of FS Value
  • Minimum tenure: 1 Month
  • Max tenure: 18 Months
  • Min Amount: ksh100k
  • Max amount: ksh1M
  • Repayment Frequency: Monthly

Documents

  • KRA Pin
  • ID
  • 6 months Mpesa statements
  • 6 Months Bank statements
  • 6 months pay slips if employed
  • Detailed physical address
  • Original Logbook

Money254 Review

Pros

  • Will finance from an individual or dealerships.
  • No restriction on Car age

Cons

  • Finance 50% of FSV

See other Auto Loans available in Kenya on Money254

Whether you’re looking to keep business moving, support your hustle, or get your dream car, we are here to help you find the best car loan for your circumstances today.

See all Auto Loans on Money254

Kifedha Credit Asset Finance is financing given to individuals who wish to purchase a personal/ private use vehicle. They offer car financing of up to 50% of the car’s forced sale value.

Who is Eligible for Kifedha Credit Asset Finance?

Kifedha Credit Asset Finance Security/Collateral 

Kifedha Credit Asset Finance Loan Limits and Interest Rates

Total Upfront Fees

Other Fees

Kifedha Credit Asset Finance Interest Structure

Estimated Total Minimum and Maximum Monthly Cost of Kifedha Credit Asset Finance

How to Apply for Your First Kifedha Credit Asset Finance

How to Make Kifedha Credit Asset Finance Loan Repayments

Kifedha Credit Asset Finance Late Fees and Penalties

Welcome to Money254!

Money254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast, and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected. Instantly search loan products from established providers in Kenya and compare on the terms that matter most to you.

Explore all Products on Money254
No items found.

Stay up to date with your money - sign up for our newsletter today.

Get updates from the Money254 team on financial news and new Money254 features.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.