Ngao Import Car Finance: Product Details & How to Apply

Rates available from as of 1st April 2021
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Ngao Credit

Import Car Finance
Easy Apply
Amount
Up to 60% of total estimated cost
Duration
1 month - 3 years
Interest Rate
3.5% - 10% per month
Total Cost Including Institution's Other Fees
3.8% - 15% per month
No CRB check required
Easy Apply
visit website

Loan Type

Car Loan

Loan Cost

  • Monthly Interest tiers:
  • 1 month: 10%
  • 2-5 months: 5.5%
  • 6-12 months: 5%
  • 13-36 months: 3.5%
  • Processing Fee: 3%
  • Credit Insurance: 1.9% - 6.8%

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 60%
  • Total Loan Repayment Amount: Ksh186,000
  • Monthly Loan Repayments: Ksh15,500

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • Car Age: 8 years
  • % Financed: Up-to 60% of Total Estimate Cost
  • Minimum tenure: 1 Month
  • Max tenure: 36 Months
  • Minimum Amount: 100,000
  • Max amount: 5,000,000
  • Repayment Frequency: Monthly

Documents

  • National ID
  • KRA Pin
  • 6 months Bank statements
  • 12 months Mpesa statements
  • Bill of lading
  • Jevic
  • Japanese Logbook
  • Certificate of road worthiness
  • IDF
  • Original Commercial Invoice

Money254 Review

Pros

  • Up-to 60% of the total Estimate cost Financed.
  • Waiver on interest on early repayments
  • No CRB Checks

Cons

  • Relatively high interest rates

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.

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