Compare Car Loans | Vehicle Financing Options in Kenya

Before you consider several car loans, there are a few things you should always keep in mind:

  • Calculate the amount you can afford to loan and repay back without difficulty.
  • Explore the car loan market to find out what loans are available by different lenders.
  • Compare the different car financing options by different lenders to choose the best option.

The most important thing to remember is not to rush your decision. Shop for your motor vehicle loan before you start looking at cars.

Some of the variables you need to consider include:

  • Financing amount: How much does the lenders finance for a new and old car?
  • Repayment period: Most car loans often have a term of between one and five years.
  • Interest rates: They vary depending on the term of the loan, car loan provider, loan amount and whether you want a variable or fixed rate.
  • Insurance: Does the loan require you to take out insurance to cover missed payments?
  • Fees and charges: Check the fine print for any kind of fees such as fees for early loan repayment, fees for loan defaulting etc.
Provider/Product Description/Terms Financing Amount Repayment Period Interest
Kenya Commercial Bank Logo
KCB Retail Car Loan


Talk to Albert:
0720 363 222
  • A car loan scheme specifically branded to meet the needs of employed clientele for personal cars.
  • Age of vehicle: Not to be more than 8 years old.
  • Make/model: All recognized makes/models by the bank.
  • A valuation report from the AA of Kenya or Regent Valuers.
  • Proforma invoice for the vehicle being purchased.
  • A letter of introduction & confirmation from the employer.
  • Minimum loan amount : From Kshs. 500,000/-
  • Financing and deposits: 80% financed for the vehicle with a deposit of 20% of sale amount/valuation amount whichever is higher.
  • Other finance: If need be, tracking device amounts to be included as finance for the loan.
  • Loan period: 48 months.
  • Interest rates: From 17% for 36 months to 18% up to 48 months (Interest rate on reducing balance)
Commercial Bank of Africa logo
Motor Loan
  • Can borrow in Kenya Shillings or in major foreign currencies such as USD, EURO and GBP (if your income/salary is in foreign currency).
  • Old Vehicle: Up to 7 years old.
  • No penalty for early repayment.
  • Loan costs: motor vehicle valuation and legal fees, the annual loan protection insurance premium, and our facility fee.
  • Immediate car insurance processing.
  • Minimum financing: Ksh 300,000.
  • Maximum amount and percentage of financing based on ability to repay and the value of the car.
  • Up to 5 years
  • Flexible repayment options
  • Interest charged on reducing balance
Bank of Africa logo
Personal Motor Loan
  • Quick processing and disbursement within one week
  • The Vehicle is registered in the name of the client and Bank of Africa until the loan is fully paid up.
  • The vehicle must be fitted with approved anti-theft devices.
  • The vehicle must not be more than 8 years.
  • The vehicle must be covered with a comprehensive policy for its full value and the bank interest noted on the policy document.
  • The insurer must be approved by Bank of Africa.
  • Bank financing: 50-80% of the total cost with the client financing the rest.
  • 12 - 48 months
  • Flexible interest instalment matched to income.
  • Interest charged on reducing balance rate
Family Bank logo
Asset Finance
  • Available to account holders.
  • Second Hand units: Up to 10 years old
  • Comprehensive Insurance Cover for the period the asset is under finance
  • For Matatus, other PSV vehicles, Tractors and Prime Movers the above terms have been varied. Please get in touch with any of our branches for the amended terms.
  • 80 % maximum of the purchase price on new units
  • 70 % maximum on 2nd hand units
  • 1 year to 4 years maximum
CFC Stanbic bank logo
Vehicle & Asset finance
  • Financing of motor vehicles ranging from saloons and pick-ups to prime movers and earthmovers
  • New or used assets may be financed.
  • Assets remain the property of CfC Stanbic Bank for the duration of the loan period. Ownership is transferred to you once the last payment has been made.
  • An insurance premium financing option is available to assist you with your insurance repayments.
  • Flexible financing terms for up to 48 months
  • Competitive interest rates in both local and foreign currency
Chase Bank logo
Hire Purchase
  • Financing for both new and old vehicles
  • Maximum age of old vehicles is 6 years maximum
  • New Vehicles: Minimum of 10% of the cost
  • Old vehicles: Minimum of 30% of the cost
  • New Vehicles: Maximum 48months repayment period
  • Old vehicles: Maximum 36 months repayment period
Consolidated Bank logo
Asset Finance
  • Facility provides for customers with a convenient solution to purchase vehicles, equipment and other assets for business.
  • The bank can finance up to 80% of the cost of the asset
  • Flexible repayment options of up to 4 years.
  • Low interest rate

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NOTE: The products info on this page does not constitute financial advice, always do your own research on top to ensure itís the right product for your specific financial situation and remember, we don't as a general policy, investigate the financial soundness of companies listed here. The rates and products displayed within these tables are updated on a regular basis however due to the dynamic nature of the market some product details and rates may be out of date. We therefore do not take any responsibility for the accuracy of the information supplied within the table although we will always make our best effort to ensure that the information provided is as accurate as possible. You should always check rates and terms with the product provider.