DT Dobie and Co-op Bank jointly launch a 95% financing scheme for Mercedes Benz buses
Image: (L-R) Chief Commercial Officer Co-op Bank Fleet Africa Leasing Antony Mbau, Co-op Bank's Director Corporate & Institutional Banking Jacqueline Waithaka, Finance Director DT Dobie Srinivas Cherevu and Mercedes Benz Project Manager Matthew Mbuko after the signing of the Co-op bank - Mercedes Benz bus deal.DT Dobie and Co-op Bank have entered into a strategic financing partnership worth Kes 1 Billion that will enable institutions such as schools, churches, universities and fleet owners to purchase or lease Mercedes-Benz buses.
Customers who qualify for the scheme will have the option to purchase buses with financing of up to 95% or to acquire more units through 100% leasing, for an extended period of up to 60 months.
What’s more, to help customers acquire the bus they need with a payment they can afford, schools and colleges can have payments correspond with school terms for easier cash flow management. The scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing.
Leasing vehicles has become popular because the customer benefits from improved service by newer vehicles, easy budgeting due to the fixed monthly payments and is protected from inflation.
Co-operative Bank’s leasing arm, Co-op Fleet Africa, tracks and monitors the vehicles, deals with routine administration including maintenance, service and repairs and manages the fleet so that clients can focus on uninterrupted service.
During the launch of the partnership at DT Dobie offices, the DT Dobie Project Manager for Mercedes-Benz Buses Mr. Mathew Mbuko explained that 150 units of MB 917 and the bigger MB 1730 buses will be available for customers to buy or lease. Schools and transport companies will have the option to decide the configuration of buses that suit them ranging from 37 seats to the ultra-luxury coaches.
On behalf of Co-op Bank, the Director of Corporate and Institutional Banking, Mrs. Jacquelyne Waithaka said that the scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing, adding
“The bank has made the terms flexible to accommodate MSMEs, Co-operatives, Corporates, Individuals and Farmers, to support them retool their businesses as the economy re-opens.”
In the recent years, Mercedes-Benz buses have become a common feature on Kenyan roads. They are NTSA-approved and are built on dedicated bus chassis, their smaller optimized engine saves fuel and they have longer service intervals which decreases downtime.
This means low running time and low fuel consumption. The buses are well engineered and have ABS, a pneumatic brake system and anti-roll bars for improved safety.
They are built on specific bus chassis and are more comfortable thanks to the parabolic springs suspension which gives a softer ride insulated from rough roads and an engine management system which optimizes performance in all sorts of terrains.
