Car Finance & Dealer Hire Purchase Calculator

Bank finance is a car loan from a Kenyan bank — you repay the bank and own the car once cleared. Hire purchase (HP) is arranged directly with the car dealer, not a bank. You pay instalments to the dealer and receive ownership after the final payment.

We list NCBA, Stanbic, KCB, Equity Bank, and Co-operative Bank. Rates follow the CBK Risk-Based Credit Pricing Model: KESONIA or CBR (~8.75%) plus a customer risk premium. For most car loan borrowers in 2026, the all-in rate typically falls between 18% and 24% p.a. on reducing balance.

The CBR or KESONIA is only the reference base — not your final rate. Banks add a risk premium (often 9–15+ percentage points) based on your credit profile, income, and loan type. That is why most car loans in Kenya currently land in the 18%–24% range, even after recent CBR cuts.

Banks do not offer hire purchase in Kenya — HP is a dealer product. Enter the rate from your dealer's HP quotation to estimate monthly payments and total cost.

Bank finance estimates include processing fees, credit life insurance, comprehensive insurance (year 1), valuation, legal docs, NTSA search, and chattels registry. Dealer HP estimates include facility fees, tracking device, and dealer administration costs.

For imports, Kenyan bank finance applies to duties and taxes only — not the overseas vehicle purchase. Banks may finance up to 90% of your total duty (import duty, excise, VAT, RDL, and IDF). You cover the vehicle cost abroad and shipping separately. Use our import calculator to estimate your duty, then speak to us about duty financing.