Tradecarview, one of Japan’s biggest used car online marketplace has unveiled import duty finance available at only 1.46% interest rate per month.
The discounted import duty finance will be available for customers who purchase only via Tradecarview. The interest rate is announced to be only 1.46% per month and a processing fee of only 2%.
Import duty in Kenya is big hindrance to the buying vehicles in Kenya due to the high rate of motor vehicle import duty. This move from the Japanese used car dealer is set to be a game changer.
Customers will be financed as soon as their purchases arrive at the port of Mombasa which means the wait time will be reduced to zero.
The move is one of kind from a used car marketplace with Tradecarview facing stiff competition from other used car dealers such as SBT and BeForward.
Importation of used cars from Japan and other countries has skyrocketed in the past five years due to increased trust worthiness from consumers in Kenya. Tradecarview like its competitors has set up an office in Kenya to handle customer requests.
The application process for the financing will be handled through CARVIEW Kenya Limited which has offices International House, 3rd Floor Mama Ngina Street. Customers can also reach them on phone (+254202484642, +254715720325).
Buying a used car is an easy way of getting a car for your needs, especially if you have a limited budget.
The process is always easy but not so secure. With an increase in the use of classified, ecommerce and social media websites, finding a used car is as easy as clicking a button.
You will want to buy with confidence. Here are some steps that you can take to ensure that your purchase from a vehicle seller in Kenya is authentic. Take all the necessary measures to avoid loosing your money.
1. If you are buying from a Private Seller, make sure you obtain copy of the logbook (Proof of ownership) from the owner.
2. Go to NTSA and, with a fee of Ksh. 500/-, undergo a search for the vehicle. This ensures that the all duty has been paid in full. – Also makes sure that the car has not been stolen or used for something illegal.
3. Write an Agreement of Sale, which will be signed by you, the owner and a witness.
4. It is advisable to pay in the form of a bankers cheque, which will in turn act as a receipt.
5. Obtain a copy of the previous owner’s PIN number and a copy of his/her ID card (The more information the better)
6. Fill the Log Book Transfer Form.
7. Go to NTSA to register the changes on the logbook.
8. Pay the Purchase Tax and the Transfer Fee at the KRA.
9. Get your own car insurance.
Good news about the NTSA taking over the functions above from KRA is that you can do some of those activities online through the E-Citizen Platform. The NTSA is currently piloting a system that will centralize all vehicle related functions in the country. Check out the system here.
We urge to take the following steps even when buying from classifieds on Biashara.co.ke.