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Taxify has entered into a deal with Stanbic Bank and Renault Kenya to provide car on loans for its drivers.

Drivers will receive 100 per cent asset financing from Stanbic, thereby qualifying for Renault KWIDS – a budget car with engine capacity of 800cc and fuel efficiency of 24km/litre.

The vehicle is financed at 0 per cent deposit with the repayment tenure being 36 months. The partnership also offers a 25 per cent discount on part replacement, 20 per cent discount on labour and AA rescue to all drivers. Taxify will vet and pre-qualify drivers who have met various criterion including positive driver ratings of 4.7 and above.

Alex Mwaura, Taxify Country Manager, says that the deal striked by the firm group intends to provide cheap and efficient transportation for riders.

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“Purchasing a car upfront can take time and months of investment and in most cases, drivers opt to lease cars. This deal will not only help drivers access a feasible and cost-effective way to own cars, but also offer an easier way to provide income for themselves and their families,” he added.

Renault first unveiled the manual version of the KWID in 2016 for Ksh1 million. Two years later, an improved (automatic) version – the KWID Climber – was introduced for Ksh1.5 million, inclusive of VAT.

Renault Kenya Brand Manager Jonathan Dos Santos, is confident that the Renault KWID model is best suited for this partnership: “The KWID…has proved to be the most affordable, fuel efficient and durable car with best ground clearance in cars within its category.”

In 2017, Stanbic partnered with Uber to asset finance Suzuki Alto cars for its drivers.

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