Maridady Blog

Understanding Asset Financing with Maridady Motors

Understanding Asset Financing with Maridady Motors: Nairobi's Premier Kenyan Car Dealer

Asset financing, a service provided by Maridady Motors, is a loan accessible to both companies and individuals based on their financial strength and eligibility criteria. This financing solution caters to any Kenyan citizen, expatriate, or Kenyan-based company holding an active bank account with a financial institution operating in Kenya.

To ascertain eligibility for financing, Maridady Motors conducts an evaluation based on Credit Reference Bureau (CRB) ratings to determine creditworthiness.
 

The requisites for asset financing vary depending on the applicant's category:
 

CATEGORY 1: SALARIED

• Submission of three most recent payslips
• Provision of six months' latest bank statements from the salary account
• Copy of National ID/Passport
• Copy of KRA pin certificate
• Introduction letter from the employer

CATEGORY 2: BUSINESS

• Furnishing six to twelve months' latest bank statements
• Copy of National ID/Passport
• Copy of KRA pin certificate
• Copy of a business registration certificate if the business is registered.

CATEGORY 3: COMPANIES

• Supply of six to twelve months' latest bank statements
• Copies of National IDs of all directors
• Copies of KRA pins of all directors
• Copy of Certificate of Incorporation
• Copies of Memoranda and Articles of Association
• Copy of Company KRA pin certificate

Additionally, individuals can use their M-Pesa statements to seek financing. Maridady Motors will collaborate with a partnered microfinance institution to facilitate car financing.

Regarding the percentage of financing:

Salaried clients can be financed up to 100% based on their net salary.

Businesspersons qualify for a maximum of 80% of the car's value.

Applicants earning a net salary of Ksh 40,000 are eligible for financing, provided they meet additional terms and conditions.

We trust that this information will prove helpful. For further clarification or inquiries, please don't hesitate to contact us at 0714 663 923. Feel free to leave us your contact details for any necessary assistance.