Vehicle Centre Zambia & Stanbic Bank Launch Ford Finance

Vehicle Centre Zambia & Stanbic Bank Launch Ford Finance
2021, May 20


Ford Finance to offer Kwacha pricing & interest rates from as low as 0%

Vehicle Centre Zambia and Stanbic Bank has launched Ford Finance, a facility that offers financing of Ford Motor vehicles in the local Kwacha currency. 

The Ford Finance initiative is a joint agreement between Ford Motor Company and Standard Bank, the parent company of Stanbic Bank, to facilitate the financing of Ford Motor vehicles at attractive interest rates.

As the authorised Ford dealer in Zambia, Vehicle Centre Zambia has partnered with Ford Motor Company and Stanbic Bank to offer one of the most competitive vehicle financing solutions in Zambia.

Customers will have the benefit of enjoying interest rates starting from 0% per annum, with a range of vehicles available under the scheme. 

Speaking at the launch of Ford Finance, Vehicle Centre Zambia Sales Team Leader, Mr. Peter L. Phiri stated that the partnership between Vehicle Centre Zambia and Stanbic Bank is an exciting initiative that will respond to customer concerns on high interest rates and offer vehicle financing in Zambian Kwacha instead of Dollar pricing.

‘At Vehicle Centre Zambia, we are really excited about the launch of Ford Finance in Kwacha. Traditionally, vehicle financing in Zambia has been offered in United States Dollars, which has posed some challenges in pricing to our clients.  The offering of Ford Finance in Kwacha has been driven by the need to provide affordable financing solutions to alleviate the impact of the COVID-19 pandemic and foreign exchange fluctuations, which have had far-reaching effects on our customers’ incomes. The introduction of Ford Finance in Kwacha is aimed at providing some relief to our customers,’ said Mr. Phiri.

He also stated that Ford Finance will offer unimaginable, low interest rates that will allow more people the affordability to get into a brand new Ford vehicle.

Mr. Phiri added that Ford Finance is not a one-size-fits-all solution but takes into account the needs of the customer by offering an affordable financing solution that benefits the customer’s cash flow cycle. It is a tailor-made package with an extended warranty service plan built into the finance package that will provide affordable and stable pricing for vehicles without the risk of currency revaluations.

Stanbic Bank Head of Vehicle and Asset Finance, Mr Horis Mainza stated that the Bank was excited with the Ford Finance partnership with Vehicle Centre Zambia that will offer vehicle financing in the Zambian Kwacha as well as the lowest interest rates on the market.  

‘At Stanbic Bank, we say that Zambia is our home and we drive her growth.  As the leading Vehicle and Asset Financing Bank in Zambia, our collaboration with Vehicle Centre Zambia has created Ford Finance, poised to deliver some of the best financing terms heard of in this market,’ said Mr Mainza.

‘As a listening Bank, we re-imagined and responded to our customer concerns on the Dollar pricing that was unstable due to exchange rate fluctuations.  The Ford Finance solution has been reinvented and customers now have the benefit of enjoying attractive interest rates from as low as 0% per annum. With this solution, we have demonstrated that indeed, with Stanbic Bank, It Can Be,’ Mr. Mainza added.

To find out more on Ford Finance, customers can visit a Vehicle Centre Zambia Ford Showroom to determine the right finance option, the vehicle best suited to that option, as well as apply for the Stanbic Vehicle Leasing facility.

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