Owning a car in Kenya no longer demands years of savings. Car financing has opened doors for salaried workers, business owners, and hustlers who want reliable transport without full upfront payment.
Today, many lenders support buyers with flexible repayment terms, fast approvals, and coverage for both new and used vehicles. This guide walks you through trusted car financing companies in Kenya, what they offer, and how to choose the right option.
If you plan to buy a personal or commercial vehicle, this article helps you move with clarity and confidence.
Car Financing Companies In Kenya You Can Trust
Car financing companies in Kenya fall into four main groups. These include microfinance lenders, credit-only institutions, car dealerships, and banks. Each option suits a different type of buyer. Some focus on speed. Others focus on lower interest or higher loan amounts. Below is a detailed breakdown.
Leading Microfinance And Credit Lenders
These companies dominate the car financing space due to fast processing and flexible terms.
Watu Gari
Watu Gari started operations in 2021. The company targets buyers who want quick approval and flexible repayment. It finances up to 80 percent of a car’s value and allows repayment for up to 60 months. Interest rates start from 2.5 percent per month. Watu Gari includes comprehensive insurance in the loan and often completes approvals within a day.
MOGO Kenya
MOGO Kenya focuses on used cars, boda boda loans, and tuk-tuks. The lender finances cars of any age with a minimum deposit of 20 percent. Loan amounts go up to Ksh 2.5 million with repayment periods reaching 60 months. MOGO works well for buyers who want older vehicles without strict restrictions.
Mwananchi Credit
Mwananchi Credit suits borrowers who need quick funding. The lender offers short to medium term car loans, usually between 12 and 48 months. It works well for buyers with strong bank statements who want fast access to funds.
HAKKI Africa
HAKKI Africa stands out due to high financing limits. The company funds up to 90 percent of a car’s value. It promises loan approval within 24 hours and charges monthly interest rates around 2.5 percent. The process remains simple and transparent.
Ngao Credit
Ngao Credit targets buyers who want higher loan amounts. It offers financing up to Ksh 5 million with repayment periods of up to 36 months. Ngao Credit supports showroom cars, zero mileage vehicles, and used imports from local or foreign dealers.
Car Dealerships Offering Financing Support
Some dealerships simplify the buying process by arranging financing directly.
CFAO Motors
CFAO Motors works with individuals and businesses. It supports buyers of Toyota and other brands under its portfolio. The company requires standard income documentation for individuals and detailed financial records for businesses.
Autochek
Autochek combines car search and financing on one platform. Buyers choose a vehicle, apply for financing, and receive approval under one roof. Autochek partners with several lenders to offer competitive interest rates and flexible repayment.
Motorhub
Motorhub acts as a bridge between buyers and lenders. The dealership partners with banks, microfinance institutions, and insurance companies. This approach helps buyers compare options before committing.
Maridady Motors
Maridady Motors supports both employed and self-employed buyers. Deposits range between 10 and 30 percent. Repayment can stretch up to 60 months, which suits buyers seeking lower monthly instalments.
Commercial And Asset Focused Lenders
ASL Credit
ASL Credit has operated since 2007. It focuses on commercial vehicles, construction machinery, and personal cars. The lender suits entrepreneurs who need vehicles for income generation.
Banks Offering Car Loans In Kenya
Banks remain a strong option for buyers with stable income and good credit history. Most banks offer lower interest compared to microfinance lenders, though approval takes longer.
Common banks offering car loans include
- KCB Bank
- Equity Bank
- Cooperative Bank
- NCBA
- Stanbic Bank
- I and M Bank
- Family Bank
- National Bank
Banks often finance new and used cars and may offer repayment periods of up to 72 months depending on the product.
Comparison Table Of Major Car Financing Companies In Kenya
| Company | Max Financing | Repayment Period | Ideal For |
|---|---|---|---|
| Watu Gari | 80 percent | Up to 60 months | Fast approval buyers |
| MOGO Kenya | 80 percent | Up to 60 months | Used cars any age |
| HAKKI Africa | 90 percent | Flexible | High financing needs |
| Ngao Credit | Ksh 5 million | Up to 36 months | High value vehicles |
| Maridady Motors | 70 to 90 percent | Up to 60 months | Low deposit buyers |
| Banks | Varies | Up to 72 months | Stable income earners |
How To Choose The Right Car Financing Company
Start by checking your income stability. If you earn a salary and have payslips, banks may offer better rates. If you run a business or rely on Mpesa income, microfinance lenders work better. Always compare interest rates, repayment periods, and insurance costs. Read the contract carefully before signing.
