Ngao 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.

Ngao Credit

Local Car Finance
Easy Apply
Up to 50% of car's forced sale value
1 month - 3 years
Interest Rate
3.5% - 10% per month
Total Cost Including Institution's Other Fees
3.7% - 14% per month + 6k upfront fees
No CRB check required
visit website
Easy Apply

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:  2%
  • Credit insurance: 1.9%-6.8%
  • Chattel Registration: ksh3000
  • Late fees: 6.5% of monthly installment

Additional Third-party fees:

  • Valuation:ksh3000
  • NTSA Search: ksh3,000
  • Logbook In-charge: ksh3000
  • Car Tracker: ksh4000

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh500,000
  • Example Loan Tenure: 12 months
  • Representative APR: 60%
  • Total Third-Party Fees (See Cost Breakdown): Ksh13,000
  • Total Loan Repayment Amount: Ksh834,000
  • Monthly Loan Repayments: Ksh69,500

Loan structure

  • Type: Secured
  • Interest structure: Flat rate

Loan  Details

  • % Financed: Up-to 50% of FSV
  • Minimum tenure: 1 Month
  • Max tenure: 24 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh5,000,000
  • Repayment Frequency: Monthly


  • Proforma invoice from the dealer/ sale agreement
  • Original Logbook
  • ID & PIN
  • Logbook transfer forms
  • Latest 12 months bank statements
  • Post-dated cheque(s)
  • Comprehensive insurance

Money254 Review


  • Will Finance purchase from individuals and dealerships
  • No CRB Checks
  • Waiver on interest for early repayments


  • Will finance the FSV of the vehicle and not the Market value of the car

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

Ngao Credit Asset Finance is financing given to individuals who wish to purchase a personal/ private use vehicle, either brand new or used.

Ngao Credit offers car financing for 50% of the car’s forced sale value, thus the client will be responsible for the 50% deposit to expedite the end-to-end procedure.

Who is Eligible for Ngao Credit Asset Finance?

Ngao Credit Asset Finance Security/Collateral 

Ngao Credit Asset Finance Limits and Interest Rates

Total Upfront Fees

Other Fees

Ngao Credit Asset Finance Interest Structure

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

How to Apply for Your First Ngao Credit Asset Finance

How to Make Ngao Credit Asset Finance Repayments


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.