Ugandans can now easily own new vehicles thanks to the partnerships commercial banks, insurance companies and vehicles distributors have launched.
The latest is the launch of asset financing between dfcu Bank, Insurance Company of East Africa (ICEA) and MAC East Africa that will see customers purchasing the latest model of Isuzu mu-x 2018 at special rates.
Under the partnership, customers who wish to own the Isuzu will pay in instalment after depositing 10% of the total value of the vehicle which is $60,000.
Addressing the media at the launch of the product, Ronald Sonko, the Assets Finance Manager dfcu Bank, said the partnership is good since government is banning the importation of second hand vehicles which are not environmentally friendly.
“This is the best option for our ordinary Ugandan to have own new brand vehicle; the bank is ready to provide the vehicle in return for specific repayments at an agreed interest rate. This will be through complying with all the contracts terms,” he told Journalist at the Isuzu Uganda MAC East Africa Limited Head offices in Kampala where the Launch of the partnership took place.
Commenting on the product (Isuzu mu-X), Douglas Kawalya, the Head Tender Sales at the MAC East Africa, said the new brand is of good quality and affordable to most middle income Ugandans.
“The Isuzu mu-x is a celebration of modern Isuzu styling and design, blended with the Isuzu tradition of reliability, trust and muscular toughness and its fuel conception is efficiency and excellent handling on all terrain in Uganda, “ he explained .
Daniel Kairu, the Head of Business Development and Marketing at the ICEA, said noted that many Ugandans are not embracing Comprehensive Insurance for their vehicles yet it is the way to go. He explained that comprehensive insurance plays big role when it comes to motor vehicle risks.
Under the partnership, the customer intending to own the vehicle is supposed to pay $999 on monthly basis, along with comprehensive Insurance and motor services for 12 months from ICEA.
By SAMUEL NABWIISO