Bank of Africa, Deluxe Trucks Signs Vehicle Financing Deal

In order to finance the acquisition of trucks and buses by small, medium, and large firms, the Bank of Africa (BOA) has reached an agreement with Deluxe Truck and Buses E.A.

Buyers will have access to up to 90% financing on Ashok Leyland trucks and buses through the agreement, with an interest rate of 15.67% on the balance reduction for up to 60 months.

“At BOA, one of our aims is to ease the financial load on SMEs who are a key contributor to the economy, and through financing, we want to enable them to reduce their upfront costs to allow them to invest in other areas of their operations,” BOA Head of Asset Finance Bernice Murigi said.

The agreement is anticipated to increase sales at Deluxe Truck and Buses E.A. Ltd., the licenced distributor of the Ashok Leyland line of commercial vehicles, and increase access to reasonable financing alternatives for small, medium-sized, and large businesses.

“We will provide our customers with a five-year warranty for purchasing the vehicles and complimentary after-sales services,” Deluxe Trucks & Buses Managing Director Ameet Shroff said.

“We have developed, ‘The Triple 5’ package, which will see our customers enjoy up to 5 years or 500,000 km warranty, and 5 free services, with the purchase of select models, within our range,” he added.

“Delivering uptime to customers is our key objective and we will ensure that our customers are continuously served with complete satisfaction.”