Car financing in Kenya: what banks actually look at

Asset finance in Kenya is competitive, but the headline rate is only part of the cost.

Typical terms in 2026

Most lenders want a deposit of 20–30% for a used vehicle, with terms up to 60 months. Rates vary with your relationship, your income stability and the age of the vehicle. Older vehicles attract shorter terms and higher deposits.

What the bank checks

Six months of bank statements, proof of income, your credit reference bureau report, and a valuation of the vehicle from an approved valuer. Self-employed applicants should expect to provide business registration and returns.

Costs beyond the interest rate

Facility or arrangement fees, the valuation fee, comprehensive insurance (which the lender will require and may want financed), excise duty on fees, and the cost of a logbook joint registration. Ask every lender for the total cost of credit, not the rate.

A practical sequence

Get pre-approved before you shop. A pre-approval letter turns you into a cash buyer in the seller's eyes and gives you room to negotiate. Listings on Drive Shift Cars that show a Financing available badge have a partner arrangement already in place — but you are never obliged to use it.

Drive Shift Cars is not a licensed financial adviser and does not provide investment or financial advice. Compare offers independently and read every agreement before signing.