Business / Companies
MBCA ventures into vehicle finance
26 Mar 2015 at 03:18hrs | Views
DULY'S Motors has entered into a partnership with MBCA Bank to offer loans to individuals and companies for the purchase of new vehicles from its branches.
Duly's general manager operations-western region, Levison Batisoni said the arrangement was meant to cushion prospective buyers from forking out large sums of cash in the wake of the liquidity crunch prevailing in the country.
He said the scheme was initiated by Duly's Bulawayo branch and would spread to other branches across the country.
"The arrangement is effective immediately, customers can now drive brand new vehicles off the Duly's Bulawayo showroom at a deposit of up to 20 percent and installment plan of up to five years on Ford Ranger T6, Nissan, Kia, UD trucks and buses, Volvo trucks and buses, Renault trucks, New Holland tractors," said Batisoni in a recent interview.
"For instance a brand new Kia Picanto hatchback priced at $18,273, attracts a deposit of $3,655 and monthly instalments of $244 per month for five years. Through this arrangement, we can now acquaint ourselves to the market in South Africa.
"We haven't reached that level because in South Africa one can get into a car dealership and move out of the show room with a car at zero deposit."
MBCA Belmont, Bulawayo branch manager Rita Stevawo confirmed the financial institution was offering such a service saying it was open to all individuals and companies.
"As a bank we've what we call a vehicle asset finance scheme, which can be accessed by individuals or companies.
"We haven't entered into a formal arrangement with Duly's but the company recommended some of its clients to us and most of them met our criteria and these managed to acquire the vehicles on hire purchase," Stevawo said.
Batisoni said although there has been an influx of imported second hand vehicles into the country mostly from Japan and the United Kingdom, Dulys has devised a strategy to serve that market.
"Duly's introduced express lane parts sales shops, through which customers get the option to purchase generic parts to cater for the rising demand of Japanese vehicle parts. Available are service kits to include brakes, shocks and accessories," he said.
Batisoni said the introduction of Ford Ranger T6 has made the company to regain part of its market share.
The Ford Ranger T6 has gained popularity primarily due to its features. Part of its features include an appealing shape and design, engine power to weight ratio, improved water wadding capabilities of up to 80 millimeters on the 4x4 model, improved payload of up to 30 percent from the predecessor, improved fuel economy and more leg room.
Duly's general manager operations-western region, Levison Batisoni said the arrangement was meant to cushion prospective buyers from forking out large sums of cash in the wake of the liquidity crunch prevailing in the country.
He said the scheme was initiated by Duly's Bulawayo branch and would spread to other branches across the country.
"The arrangement is effective immediately, customers can now drive brand new vehicles off the Duly's Bulawayo showroom at a deposit of up to 20 percent and installment plan of up to five years on Ford Ranger T6, Nissan, Kia, UD trucks and buses, Volvo trucks and buses, Renault trucks, New Holland tractors," said Batisoni in a recent interview.
"For instance a brand new Kia Picanto hatchback priced at $18,273, attracts a deposit of $3,655 and monthly instalments of $244 per month for five years. Through this arrangement, we can now acquaint ourselves to the market in South Africa.
"We haven't reached that level because in South Africa one can get into a car dealership and move out of the show room with a car at zero deposit."
"As a bank we've what we call a vehicle asset finance scheme, which can be accessed by individuals or companies.
"We haven't entered into a formal arrangement with Duly's but the company recommended some of its clients to us and most of them met our criteria and these managed to acquire the vehicles on hire purchase," Stevawo said.
Batisoni said although there has been an influx of imported second hand vehicles into the country mostly from Japan and the United Kingdom, Dulys has devised a strategy to serve that market.
"Duly's introduced express lane parts sales shops, through which customers get the option to purchase generic parts to cater for the rising demand of Japanese vehicle parts. Available are service kits to include brakes, shocks and accessories," he said.
Batisoni said the introduction of Ford Ranger T6 has made the company to regain part of its market share.
The Ford Ranger T6 has gained popularity primarily due to its features. Part of its features include an appealing shape and design, engine power to weight ratio, improved water wadding capabilities of up to 80 millimeters on the 4x4 model, improved payload of up to 30 percent from the predecessor, improved fuel economy and more leg room.
Source - chronicle
