Asset Finance
Our Asset Finance product is designed to empower individuals to acquire motor vehicles with ease. This solution provides financing while using the vehicle itself as collateral. It specifically supports the purchase of motor vehicles that are not more than 8 years old.
This product is strictly for asset financing and does not include provisions for business development or cash take-home options. Customers' contributions are to be deposited with Zazipay, and all funds will be disbursed directly to the motor dealers in full.
Limit amount: Up to KES 10,000,000.
Eligible assets: Motor vehicles not more than 8 years old at the time of financing.
Tenor: Short-term: 1–24 months.
Long-term: 25–36 months.
LTV: Financing up to 80% of the lower between the market value and the selling price.
1. No buyoffs.
2. Hire purchase cars are allowed.
3. MV must be 8 years of age and below.
4. Personal vehicles used for commercial purposes, Matatus and long-distance trucks are NOT eligible
5. Positive CRB report is a must.
1. Copy of ID, Pin, and passport photo(s) of the applicant or directors.
2.Proof of business (business receipts / Invoices / licenses / certificates of registration).
3.Copy of logbook.
4.Proforma invoice or quotation addressed to ZAZIPAY.
5.Proof of payments if any – to be supported by a Bank /Mpesa transaction ( RTGS, EFT or cash deposit receipt).
6.6 months bank statement and mpesa statement.
Over and above the listed requirements Limited companies must provide:
a) Certificate of incorporation & latest CR12.
b) Company PIN.
c) Board resolution to borrow – signed by all directors.