vehicle_offer Archives - Page 2 of 2

Mar

Buy back

We are excited to inform you that Cfao Mobility Zambia Ltd and FNB Zambia have partnered to the Guaranteed BuyBack program which will provide a more affordable and rational finance solution to corporations and individuals at large.

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It is worth noting that under the Guaranteed BuyBack program, Cfao Mobility Zambia Limited will repurchase vehicles leased to customers through FNB Zambia at the end of the lease period for a defined and agreed value. This program is designed to make it easier for our customers to buy, use and eventually own a brand-new Toyota vehicle with more flexible financing terms.

The customer of the vehicle has the right of first refusal at the time of buy back. Meaning, after the initial lease period expires, the customer has the option to buy the vehicle from CFAO Mobility Zambia Limited. Alternatively, CFAO Mobility Zambia Limited has the right to sell the vehicle on the used cars market as per market conditions.

Under the Buy Back program, customers will be able to finance a smaller portion of the vehicles value, which will have lower monthly installments and the opportunity to enjoy the dream car.

To qualify for the program from FNB, customers must meet the following basic terms.

Service plan for tenure of the lease is included in the package.
The owner of the vehicle remains the bank until expiry of the lease.
Vehicles to be equipped with tracking devices and CFAO Mobility Zambia Ltd is to keep data secured.
Vehicles must be maintained and repaired at authorized CFAO Mobility Zambia Ltd workshops .
All damages to body and paint must be repaired at Top Gear per Toyota standards.
Vehicles to be always covered with full comprehensive insurance.

We believe this scheme offers a great opportunity for you to enjoy a brand-new Toyota vehicle at more affordable and flexible financing terms. If you have any questions or would like more clarity regarding information shared, contact us on 0978403194.

Mar

Car Loans

CAR LOANS

The cost of buying used vehicles to meet business or personal needs can at times be difficult due lack of access to funds. For this reason, CFAO Mobility Zambia Limited has signed MOUs with leading Banks and Non-Banking lending institutions to provide loans for business and individuals who may require it to finance the purchase of a vehicle.

Benefits

Some of the benefits of getting a loan as opposed to outright cash purchase are.

A loan allows clients to have access to a higher standard of motor vehicle than what they would afford by making outright payment using their own resources.
Making smaller monthly repayments can help a business or individuals obtain a product that they would not generally be able to afford.
Repayments can be structured to provide greater flexibility so that repayments can best accommodate the individual cash flow requirements of a specific business or individuals income.
For business it allows for conservation of operating capital, and it frees up working capital for inventory, expansion and other emergencies thereby allowing the business to focus on other growth areas.

Requirements

The requirements vary based on the lending institution, but generally the requirements are:

Individuals

Minimum age is 18 years and maximum age is 60 years.
Customer should be in confirmed employment.
The maximum principal loan amount is K1,000,000.00 (USD50,000) depending on affordability. (Salaried individual should not exceed 60% of gross pay).
Vehicle being financed may be used as security/collateral.
The maximum Loan Term up to 36 months
The minimum Loan Term is 6 months.
The interest rate depends on market conditions, check with respective lender.
Income Documentation (3 latest pay- slips or 6 months’ worth fluctuating commission earners)
Individual Bank statement for last 3 months
Identification card i.e., NRC or Passport
Copy of Employment contract or Confirmation letter.
Proof of residence: Employment Introductory letter, utility bill, tenancy agreement, land

rates etc.2

Dully signed application form

Self Employed/Company

Proof of operating premise: utility bill, tenancy agreement, land rates
Identification card – NRC of Directors or sole proprietor designated to sign the facility documents as per Board Resolution
Bank Statements for at least 12 months
Digital/Passport size photo for Directors /Sole proprietor designated to sign the facility documents as per Board Resolution
Preferably Audited Financial Statements and Recent Management Accounts (Audited not mandatory)
Duly signed Application form
Company Documentation.

Business profile
Certificate of incorporation
Stamped PACRA print out
Articles of Association/Partnership deed or equivalent
Tax Clearance Certificate
Board Resolution

For more details on how call us now on +260 971 268 000 or visit any of our branches in Lusaka, Kitwe, Solwezi and Livingstone.