The six star as its commonly referred to as, Subaru has been one of the Japanese most dominant car manufactures world over. Having a wide base and preference back here at home it has gained a lot more popularity than you may you may think. Subaru cars are known for their use of a boxer engine layout in most vehicles above 1500 cc.
At Carhubb, it’s with immense pleasure to highlight and recommend to you the best 10 Subaru car models that you can buy here in Kenya. Below are some of the best Subaru models for you;
1.2014 Subaru Forester
2.2011 Subaru Stella
3.2013 Subaru Impreza
4.2015 Subaru Outback 2.5
5.2013 Subaru XV
6.2012 Subaru Legacy 2.5
7.2014 Subaru Forester 2.0
8.2013 Subaru BRZ
9.2013 Subaru Impeza G4
REVIEW FOR INDIVIDUAL SUBARU MODELS
A car’s performance is not only about numbers, the Subaru WRX has an electrifying acceleration from a super 2.5 turbocharged Subaru Boxer engine generating 221KW torque. This car has been revamped to enhance and give a generally good drive feeling with its exceptional handling. The car uses a manual transmission system, it has airbags for both the driver, front passenger.
The WRX is agile and has a surefooted handling system granting it a score of 7.2 out of 10 in terms of general performance. Being a sports car, the WRX has less of cargo space hence making it less reliable when it comes to some aspects. Its comes in a good ray of colors from Crystal/Ice cold white, pure red, Blue, Black and Gray colors.
2014 Subaru Forester
The 2014 Forester’s standard four-cylinder engine is more powerful than many rivals’ base engines. The 2.0 XT models’ turbocharged four-cylinder engine adds more power to it. This model uses a six-speed manual transmission system that is standard. Some models however have a continuously variable transmission (CVT) which basically functions as an automatic transmission system.
Paddle shifters come with 2.0 XT models, with the car being good in fuel consumption hence will help save you on fuel. Being a 4WD, the Forester has a smooth ride and is easy to handle. There is abundant passenger space in both rows, along with one of the largest cargo holds in the compact SUV class. This model is a highly dependable type of car.
2011 Subaru Stella
Subaru Stella is a mini car with a van and hatchback body type, engine power of 39KW @ 6400 Revolutions Per Minute that uses petrol. It has a torque of 62 nautical miles @4400RPM. The Stella is a 2WD with a continuously variable automatic transmission system, with a good fuel economy. The interior of this car is made of leather, fabrics or high quality fabrics seats.
This may vary according to your needs and to what you want your car have and to look like. It has an AC, Airbags for both the driver and the passengers. The model comes with varying colors; black, metallic red, beige, Gray, and white. It has a an appropriate and sufficient cargo space inspired by its van-like body shape. With the a less talk this car is so dependable and is efficient.
2013 Subaru Impreza
The 2013 Impreza has a 2.0-liter four-cylinder engine making 148 hp and 145 lb-ft of torque, transmitting it to all four wheels. In addition, it has a five-speed manual gearbox, for better gas mileage. The five-speed comes standard in lower-end models, but it’s largely the preference on the impresa. The CVT is however offered in all trims and standard in the high-end Impreza car models. When it comes to handling, the Subaru impresa is responsive and drama-free, but it doesn’t quite win in the fun-to-drive category.
The interior of this model is quite impressing as most Imprezas have Fabricated seats, the 2013 Subaru is nothing short of that. The interior can be Black, Cream white, Beige or it can be customized as well. This model comes in some fun colors, earth green metallic, blue, white and black. It has limited cargo space however as is body type is slightly not a hatch body. The prices of this car may range from KSh1,200,000 – KSh1,600,000.
2015 Subaru Outback 2.5
The Outback is the off-road-worthy wagon version of Subaru’s Legacy sedan. The Subaru outback is as far much unique and it impresses with not just an abundance of utility, but a newfound level of class within the spacious cabin. It is a 4WD and has a higher stance than most other Subaru Cars. The bonnet has two horizontally opposed engines, a 2.5-liter four-cylinder rated at 175 horsepower and a 3.6-liter 6-cylinder rated at 256 hp. Both are paired with a continuously variable transmission (CVT) with standard steering-wheel paddle shifters. The car is a manual but most of them have automatic transmission systems. It has a wide cargo space inspired by its hatch body design It comes in a wide ray of colors; black, Crystal white, Metallic earth green, Gray and red.
2013 Subaru XV
The Subaru XV is standardly equipped with 7 airbags and has a slightly smaller body size as compared to the other Subaru models. This make however despite the small body it has a sunroof and has a dual zone air-conditioning. The XV is a 4WD and a 2WD as well. It also has a hill-hold assist – and as with many new cars, an automatic stop-start function which at time helps in fuel conservation and as since it has a 2.0 L engine, this helps you a little bit when it comes to fuel bills as this car demands less.
The XV has both the manual and CVT automatic transmissions. It has an average cargo space enough to cater for average need. The interior of this car is so eye catchy as its mostly made of highly fabricated seats and has a large legroom for both the driver and the persons on board. It also has an amazing sounding system and armrests at the driver’s front. This car is slightly expensive as it trades at KSh1,900,000.
2012 Subaru Legacy 2.5
Subaru offers three engines on the 2012 Legacy — a 2.5-liter 170-hp and 170 lb-ft of torque F-4, a turbocharged 2.5-liter 265-hp and 258 lb-ft of torque F-4, and a 3.6-liter 256-hp and 247 lb-ft of torque F-6. The Subaru Legacy is the only car in its class that comes standard with all-wheel drive. The legacy has a Sedan body type. The inside cabin contains standard audio system that includes Bluetooth connectivity and audio streaming, iPod compatibility, a USB port, and an auxiliary input.
Subaru legacy offers one of the best leg rooms which actually a lot significant to the driver and for the comfort of the persons on board. It uses an automatic transmission system and comes in a wide ray of colors, Crystal white, Green, and black. The model also has a wider cargo room for all your packing needs. The legacy is often a suitable car model for any activity.
2011 Subaru Forester 2.0
The forester has a 2.0-liter flat four in 2.0XT with direct injection and turbocharging and produces a stout 250 horsepower and 258 pound-feet at 2,000 RPM. This model has a composed ride yet responsive handling, has an active-safety features, which includes the X Mode, a tight, quiet cabin, turbo’s eight-speed paddle-shift control and a Top-tier safety. It also has a 4 door automatic 2.0XT.
The fact that this car has a sedan body type really makes is an interesting car make. It has a cool interior design with seats made of leather but most seats in the Forester Are Fabricated seats. The car has a good space at the back that gives you enough packing space hence this model is good for activities like hiking.
2013 Subaru BRZ
The BRZ is one of a kind Subaru model with its sports car shape that easily resembles a Ferrari. Subaru BRZ features a 4-cylinder 2.0L engine with 200 HP @7000 RPM this is one of the economic friendly engines. It features a coupe body design. The transmission is a variable of a 6 Speed Automatic Adaptive w/Sport & Manual Modes.
The interior of the BRZ entails highly fabricated seats which are Beige, black in color. In addition, the interior is connected to great port of sound system. The leg room for the front row is quite impressing. BRZ is a car that will really suite your luxurious desires.
2013 Subaru Impreza G4
The Subaru G4 is quite similar to the impresa but its unique in its own. Its engine has a maximum Power of 85kW @ 5600 Revolutions Per Minute and a maximum Torque of 148 nautical miles @4000 RPM. The G4 mainly uses the CVT which is an automatic transmission system. It has a sedan body type which offers is a lot of cargo space enough for your needs. The interior of the G4 is serene as it mainly features leather seats though not all have leathered seat as some are made of fabrics.
Its features a sunroof and is quite spaced inside as it has 4 seats which are well spaced out creating a nice environment in the cabin. The car comes with a ray of colors with black being the main featured color. The price of this model ranges from KSh1,300,000 – KSh1,700,000.
Subaru is one of the most exciting and enjoyable car that you might have as a customer. With its good and attractive immense features, you cannot miss to get a ride on a Subaru. At Carhubb we are always available to take in and serve you with the best deals. Visit our website for more.
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Mitsubishi is one of Japan’s leading automotive manufacturers and multiple world rally and endurance champions. Mitsubishi has for a long while have continued to push the boundaries of innovation for more than 100 years, always believing that inspired design is founded on quality, reliability and performance.
Mitsubishi make has also taken over the Kenya Motor market with many if not most showrooms having at least a Mitsubishi make on display. We at Carhubb will be taking through the best 10 Mitsubishi cars to buy in Kenya. Below is a list of such examples;
1. Mitsubishi Pajero
2.Mitsubishi Pajero Sport
6.Mitsubishi Lancer Evolution
7.L200 Single Cabin
8.L200 double Cabin
9.2013 Mitsubishi RVR
10.2013 Mitsubishi Delica.
REVIEWS FOR INDIVIDUAL MITSBUDHI CAR MODELS
The interior of the Pajero is a far cry from the terrain it was designed to face. Illuminate. meters and leather-wrapped controls are all ergonomically arranged and awaiting your command, with the soft leather seats and luxurious appointments throughout tempt you to forget your destination and simply keep driving. Pajero achieves an unprecedented combination of all-terrain control and luxury-sedan comfort.
The Pajero has a proximity key entry and start, which allows you to unlock the doors as long as you have the key nearby. It also has a rearview camera, which helps you see behind the car when reversing, and rear parking sensors, which tell you how close you are to obstacles. A multi-mode drive system, an electronic traction control, they also have a mileage of 100000(KM). The prices in Kenya range from KSh3,300,000-KSh4,800,000
Mitsubishi Pajero Sport
This car model offers serene comfort from the well-appointed cockpit, which surrounds you with solid craftsmanship, intelligent features and a wide open view. From refined meters to sophisticated floor console, every feature is fine-tuned to enhance driving pleasure and keep you in confident control. This make has a choice of 2WD and 4WD. Using the drive mode selector dial, you can switch between 2WD and 4WD with shift-on-the-fly convenience at up to 100km/h.
Power is supplied in abundance whenever you need it from your choice of an efficient new 2.4-liter diesel, dynamic 2.5-liter diesel or 3.0-liter V6 gasoline engine. This car model comes in a ray of exterior colors raging from; Medium Red Mica, Sterling Silver Metallic, Deep Blue Mica, White Pearl and black mica. It has an automatic transmission system. The interior seat materials are mostly made of beige, black or gray fabrics and leather, Power door mirrors, Anti-lock Brake System (ABS) with Electronic Brake-force Distribution, Driver’s and front passenger’s SRS airbags, it also has a manual air conditioning system and Halogen headlamps. This model’s price is marked at KSh5,800,000.
The ASX model car is comes in 2WD or 4WD according to your preferences. ASX lets you carry whatever you need for when you get there, with up to 358 liters of available cargo capacity with five passengers. The tailgate is wide enough to provide ample space for even the bulkiest items, and the low floor height makes it convenient to move heavy cargo in and out.
This model is electronically controlled 4WD with drive mode selector with a push button, it has the Anti-lock Braking System, SRS driver’s and front passenger’s front airbags, child-protection rear door locks, it also has rear packing sensors, Halogen headlamps with manual headlamp leveling device, Electric power steering. The seats are leather seats with front seat heater while some are High grade fabric with stitches. This car model has an automatic transmission system. In addition there is a Keyless entry system, Power windows. The exterior colors rage from Red Metallic, White Solid, Titanium Gray Metallic, Black Mica, Lightning Blue Metallic, White Pearl.
The outlander has a dynamic outlook in a sense that The ride is extremely quiet thanks to comprehensive NVH reduction measures that lower engine, road and wind noise. From generous cabin space and comfortable seating to quality materials and refined amenities this model is a truly incredible. The OUTLANDER delivers the high performance you demand of a rugged SUV, including powerful acceleration and responsive road handling powered by the 2.0 and 2.4-liter engines which are extremely responsive and fuel efficient, while the high-displacement V6 engine supplies supremely powerful acceleration even when carrying heavy loads or traveling up mountainsides. You have to worry less because the outlander got your back.
The outlander is equipped with forward collision mitigation system and an adaptive cruise control system to keep the car safe from obstacles and avoid accidents. The car has; White pearl/solid, Titanium gray and black pearl colors just but to name a few. It also has powered windows.
The eclipse has a wide choice of colors to choose from when making your purchase from; Red Diamond Bronze Metallic, Orient Red Metallic, Amethyst Black Pearl, Silky White Pearl, to Titanium Gray Metallic. The model’s performance is so on a high courtesy of the 2.0-liter engine that delivers exciting response from low to high revolutions per minute.
The car has the following feature some are unique; power panoramic sunroof, keyless operation system, cruise control, electric parking brake with brake auto hold, Color LCD Multi-information display, auto head lights and a rain sensor. The seats are of standard fabric and some are leather. These Leather seats include synthetic leather on the sides, Automatic climate control air conditioning, display audio with 4 speakers, AM/FM radio, CD/MP3 player, USB port, projector halogen headlights with manual leveling.
Mitsubishi Lancer Evolution
The Mitsubishi Lancer Evo is one of the best models of the Mitsubishi cars, with its sports like features and design. Its has a 2000cc petrol with a turbo. Lancer provides a serene and inviting environment free from the outside world. The car is equipped with insulated doors that keep out any unwanted noise.
The climatic control and the spacious seating makes it a pleasure to be a driver of this fascinating car brand. This car is built with a 2.0L MIVEC engine which is an extreme powerhouse, it also has a driver’s and front passenger’s front SRS airbag and has an automatic transmission system. It has a relatively low ray of colors with the most vibrant colors being blue, silver and gray.
L200 Single Cabin
The stylish L200 never forgets its true calling. When you’re hard at work, it provides all the space and tough reliability you need. The spacious cargo bed is also solidly reinforced to offer outstanding durability at time of work. The single cab is available in either 2WD or 4WD which uses 2.4-liter ECI-MULTI (2WD only), 2.5-liter turbocharged DI-D (2WD/4WD) engines. It comes with wider ray of colors which include; Red/White solid, Titanium gray metallic and earth green metallic colors.
The interior of the model is made up of fabric seats, high grade fabric and leather seats. It uses and antilock braking system with Electronic Brake-force Distribution and a power window. The lamps are halogen headlamp with amber upper accent and material black extension
L200 double Cabin
It’s a little bit more featured than the single cabin, with its dynamic power that is supplied in abundance whenever you need it, from your choice of one gasoline and four diesel engines, including a 2.5-liter powerhouse that generates an impressive 131kW/4000rpm. Whatever the driving conditions, the L200 has what it takes to accomplish your mission with is remarkable and powerful efficiency. It has a wide boot that can take a lot of cargo and make your work relatively easier.
The interior is made up of either fabricated or leathered seats ranging from black to gray colors. It has SRS airbags for both the driver and the front passenger, Pretensioners, Anti-lock brake system, power window and an immobilizer this is such an incredible machine. The price of this car is normally raging between KSh2,600,000.
2013 Mitsubishi RVR
Being among our best choice car the Mitsubishi RVR comes with its own differences and uniqueness. This model has an SUV body type and is a 4WD although not all are as some are 2WD therefore the choice entirely depends on the customer. This car has the following features; Air Conditioning, Airbags, Alloy Wheels, AM/FM Radio, Anti-Lock Brakes, Armrests, CD Player, Cup Holders, Electric Mirrors, Electric Windows, Fog Lights, Power Steering. Its an automatic car type with a mileage of 29000(KM). It uses the MIVEC engine which uses petrol. The model comes with a good rage of color from black, silver, beige, earth green metallic colors. The prices of this car vary and range from KSh1,500,000 – KSh2,200,000.
2013 Mitsubishi Delica
With Vans and bus body type, The Mitsubishi delica is a small bodied car model with the following features; Air Conditioning, Airbags for both the driver and the front passenger, alluminium Wheel rims, AM/FM Radio, Anti-Lock Brakes, Armrests which are only on the front row seats, Cup Holders, Electric Mirrors, Electric Windows, Power Steering, and a traction Control system. This model has little features to point out at and this is what makes it a unique Mitsubishi make. Talking of prices, this car ranges from KSh1,100,000 – KSh1,600,000.
It’s our commitment to always serve you with at most pleasure and satisfy your needs. At carhubb your interests come first. Visit our website for more information about us.
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BMW are one of the best rated types of cars in Kenya and world over. They have had a good history in car making and they still continue to amaze us with new models day in day out. At Carhubb we are going to give you details of these marvelous machines for atle3ast 10 best BMW cars that you can have while in Kenya.
Below is a list of some of the best machines in Kenya that you can have from BMW;
1. 2013 White Automatic BMW 316i
2. New. 2004 BMW 318i
3. 2012 BMW X6 3.0 35i.
4. New. 2013 BMW G-Series.
5. New. 2013 BMW X5.
6. New. 2013 BMW X1
7. New. 2013 BMW X3
8. 2013 BMW 528i
9. 2013 BMW 116i sport
10. 2013 BMW 320i
2013 White Automatic BMW 316i
As one of the best BMW models, the BMW 316i is Alpine White but also has a wide ray of colors. It has a F30 1.6L Twin-Turbo Engine with an automatic Stop/Start which helps in saving the amounts of fuel used. Its wheels are 17 Inch Sports Alloy with cruise Control, 2 Remote Control Keys, Dynamic Stability Control, Dusk Sensing Headlights. This model also has electronic Brake Force Distribution system, daytime running Lights, a keyless Entry. The Steering Wheel is leather with Multi-Function Steering controls and a parking Distance Control Rear. It has a mileage of 55000(KM) and is petrol fueled. The Price ranges from KSh1,650,000 to KSh2,000,000.
2004 BMW 318i Automatic.
This model comes with a wide range of colors but mainly Black and Silver and is locally used. It’s has an Automatic transmission system and is petrol fueled. Unlike most BMW models in Kenya, BMW 318i does not have electronic brake distribution systems neither does it have an automatic start/stop engine. It however has the following features Air Conditioning, Climate Control, Power Steering, Power Windows, Power Mirrors, Leather Steering Wheel, Power Drivers Seat, Power Passenger Seat, Memory Seat Position, Telescoping Steering Wheel, Steering Wheel Radio Controls, Driver Airbag, Passenger Airbag, Side Airbags and a Keyless Entry.
This car has a mileage of 164000(KM). It also has a leather interior type and an engine size of 1800. This car’s prices range from KSh500,000 to KSh800,000 which entirely depends on the condition of the car.
2013 BMW G-Series.
The 2013 BMW G-Series is the most rated models in the Kenyan Market. It has the following features on it; Automatic transmission system, Saloon body type, Petrol, Airbags for both the passengers and the driver, Traction Control, Tinted Windows, Power Steering but is a 2-wheel drive type, Electric Windows, Electric Mirrors, Cup Holders, Armrests, Anti-Lock Brakes, Air Conditioning, AM/FM Radio, Alloy Wheels, Xenon Lights, Wheel Locks, Front Fog Lamps, CD Player, Spotlight. Its interior type is leather made and has a 3-door count and an engine size of 2000. The prices of this car model ranges from KSh3,200,000-KSH4,800,000.
2012 BMW X6 3.0 35i
BMW X6 35i 2012 has an Automatic transmission system, Petrol 3000cc engine, Sunroof Black Exterior but there are more colors that come with this model. It has; Airbags for both the driver and the passengers, Traction Control, Tinted Windows, Power Steering, Electric powered Windows, Electric Mirrors, Cup Holders for only the first rows, Armrests, Anti-Lock Brakes, Air Conditioning, AM/FM Radio, Alloy Wheels. The 2012 X6 has an SUV body type and Is a 4 -wheel drive with a leather interior type. The prices for this model range from KSh3,400,000-KSh5,100,000.
Price information source Cheki.
2013 BMW X5.
This model is not as far different from the 2012 BMW X6. It has a Buses, Taxis and Vans body type, petrol fueled, Right-hand drive Setup as many of the Kenyan model makes. The 2013 X5 has an automatic transmission system, a cloth interior type, Airbags, Power Steering, Electric Mirrors, Cup Holders, Anti-Lock Brakes, Air Conditioning, AM/FM Radio, Alloy Wheels, thumb-start Ignition, Xenon Lights, Rear Camera and Fog Lights. This model’s prices range from KSh3,900,000-KSh5,700,000. Its prices can however be negotiated.
2013 BMW X1. 5
The 2013 X1 BMW model is among the BMW X series, top ranked in the motor industry. This model has the following features; Air Conditioning, Airbags mostly for the driver only, Alloy Wheels, AM/FM Radio, Anti-Lock Brakes, Armrests for all the seat rows, Cup Holders only for the front seat rows, Electric Mirrors, Electric Windows, Power Steering and Tinted Windows but not all of these models have tinted windows. This car has a mileage of 98000(KM) and a hatchbacks body type. It’s also petrol fueled and has a leather interior type. The engine size is 2000cc. The prices for this model range from KSh1,600,000-KSh2,400,000.
2013 BMW X3. 5
This model has a ray of colors with the main colors being black, white, pearl white and silver colors. The BMW X3 is a little bit different when it comes to the body type as it has an SUV body type. Although most BMW models are 2-wheel drive, this model is a 4-wheel drive, with an automatic transmission. The automatic stop/start system is invasive, however, and makes an obvious shutter when turning off or starting up again. The driver can switch it off, but it resets back to on every time the car is started.
The interior is luxuriously appointed, with a surprisingly generous amount of cargo space behind the second row. This model also has the following additional features; Airbags, Traction Control, Tinted Windows, Power Steering, Electric Windows, Electric Mirrors, Cup Holders, Armrests, Anti Lock Brakes, Air Conditioning, AM/FM Radio, Alloy Wheels and as most BMW makes this type also has a 2000cc engine size with a horse power of 240Hp. The prices range from KSh2,700,000-KSh4,000,000.
2013 BMW 528i
The 528i has a four-cylinder with 240 horsepower. It hits the sweet spot in this lineup, providing a brisk acceleration. It has a strong passing power and high fuel economy of 24 Kilometer per liter in the city and 33 Kilometer per liter on a highway. It has quite a great mileage of 60000(KM).
Apart from having a sun roof, this model has other additional features, with little of which are unique from other models. These features include; Air Conditioning, Airbags, Alloy Wheels, AM/FM Radio, Anti-Lock Brakes, Armrests, Cup Holders for both front and back row seats, Electric Mirrors, Electric Windows, Power Steering, Tinted Windows however not on most cars, Traction Control, Keyless Entry, Rear Camera, and is Turbo Charged. The turbo makes this model different from the others. The prices for this car are a bit low as it ranges from KSh2,400,000-KSh3,600,000.
2013 BMW 116i sport
The 116i features an entirely new 1.6 litre four-cylinder turbocharged petrol engine. It has a hatchbacks body type. The hatch however has also moved a generation ahead, with keyless, push-button start even on this the entry model. For the 116i the Fuel consumption is rated at 5.8 litres/100km and it takes premium unleaded. Auto start/stop is standard along with Brake Energy Regeneration, self-disconnecting air-conditioning compressor and tyres with reduced rolling resistance.
Most have automatic transmissions but there are a few that still use the manual systems. This type has a relatively high mileage of 80000(KM). It’s of low budget as it ranges from Ksh1,200,000-KSh1,800,000.
2013 BMW 320i
As the most BMW makes, this model has the following features some of which are unique; Air Conditioning, Airbags, Alloy Wheels and rims, AM/FM Radio, Anti-Lock ABS brakes that automatically sense when a tire has stopped rotating under extreme braking, and will modulate the brake pressure to allow the tire to rotate. This increases the vehicles ability to turn while braking.
The BMW 320i uses a turbocharged 2.0-liter inline-4 and comes standard with dual-zone automatic climate control, leatherette upholstery, an eight-way manually adjustable front seats, a leather-wrapped tilt-and-telescoping steering wheel, cruise control, a trip computer, Bluetooth, BMW’s iDrive interface with a 6.5-inch display screen, a premium audio system with CD player, HD radio, an auxiliary audio jack and USB port, fog lamps, automatic wipers and 17-inch alloy wheels. An automatic stop/start feature is also included to help save fuel. It has an automatic transmission system with the transmission choices including a 6-speed manual or an 8-speed automatic. Manuals are only available on rear-wheel-drive cars. The prices of this car are projected to be slightly high as they range from KSh3,800,000-KSh4,500,000.
The BMW model is by far the most preferred bestselling motor car in Kenya by many drivers. Most of the models have an SUV body type which offers a great space in the interior not only in the dashboard area but also in the boot.
Some of the makes however have saloon bodies which are relatively streamlined which also increase the speed, as in most cases the body type of a car determines the speed. Many of these car models are found in most showroom across the country. Working to make sure that you find the perfect car that will suit your tastes and preferences, we at Carhubb are determined to satisfying and taking into consideration to our customer’s needs and any queries whatsoever.
Thank you for your time.
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When you take a loan of whatever kind for example car loan you must pay back both the amount you borrowed plus interest on top.
Interest in simple terms is the additional fee you pay in order to be granted the loan for a certain period.
The repayments to be made on the loan are divided into two parts;
1. the part that reduces your balance to pay off the loan
2. the part covering the interest on the loan
FACTORS AFEECTING HOW MUCH INTEREST TO PAY
1. Principal Amount
This is the amount you are looking to borrow. Proper research should be done with personal consideration being taken up into the equation for example your budget, size of the family. This helps you to figure out the amount necessary to borrow.
2. The Loan Term
This is the period you will be given to repay the loan. Shorter loan terms have higher repayments but their advantage is they accrue less interest in the long run whereas longer term loans have lower monthly repayments but ultimately, accrue mere interest during the life of the loan.
3. Repayment Schedule
This is the periodic time that you will be given to ensure you make payments with options such as weekly or monthly payments. Make an informed decision based on your budgeting style because while more repayments result in less interest due to effects of compounding you should be able to meet the shorter time schedule that will be given.
4. Repayment Amount
Not all the money you pay in repayment goes towards paying off the loan. A portion will go towards paying the interest first and then the left over is used to reduce the loan principal. Because the principal determines the amount of interest to be paid, you need to know the amount you are making in repayments.
5. Interest rate
During calculation of your loan, remember to use the basic annual interest rate and not the comparison rate to get accurate numbers. This is because the comparison rate takes into account fees and charges as well as interest which means that when it is used a higher amount of interest will be obtained.
Calculating interest on the car loan
Use the following formula to calculate the interest;
1. Divide your interest rate by the number of payments to be made in the year (this because interest rates are expressed annually). This means that if monthly payments are being made then divide by 12.
2. Multiply this figure by the balance of your loan, which in case it is the first payment will be the whole principal amount.
The outcome is the amount of interest to paid in the first month.
For example a loan of Ksh 300,000 over a period of 6 years at 7% and making monthly repayments is calculated as follows;
(0.07÷12) X 300, 000 = 1, 750
Since you have begun to pay the principal, to calculate the interest to paid in the following months, you need to first calculate your new balance;
1. Subtract the interest you calculated from the mount you repaid. The result you get is the amount you have paid off the loan principal.
2. Minus this amount away from the original principal to find the new balance of the loan.
Amortization is an accounting technique that is used to periodically lower the book value of a loan or intangible asset over a given period of time. In terms of loans its main focus is on spreading out loan payments over time. Amortization is similar to depreciation when applied to an asset.
Visit carhubb to find the car that suits your needs and use our loan calculator to prepare the best plan.
CAR LOANS IN KENYA
Cars are expensive to acquire and this makes it difficult to put together the necessary finances to ensure this venture is successful. Therefore, when borrowing money to purchase a car take time to look at the terms involved and make a conscious plan rather than being impulsive and ending up making the wrong decision.
Obtaining a loan from the bank is one of the popular decisions most consumers take, this is due to the benefits that are enjoyed by choosing this route. The first benefit is ease. This allows you to apply for an auto loan and get a pre-approval letter before you have even visited the showroom. This helps in knowing how much you can afford and prevents the disappointment if a car you pick out is not approved.
Banks can also negotiate a lower interest rate, which is beneficial in the long run as you will pay less for the car in the long run. The best place to obtain a car loan is therefore through the bank, this article will highlight the various terms offered by banks in Kenya to help you make a decision when deciding how to finance your car purchase.
1. EQUITY BANK
Through asset finance Equity Bank allows you to borrow to facilitate the purchase of the car of your choice. The following are the requirements necessary to sign up;
- Three original latest payslips
- 2 Copies of the ID & PIN certificate
- An Introduction/Appointment/Confirmation letter from the employer
- Duly signed authorization forms
- Duly completed loan application and appraisal form
- Pro forma Invoice / Sale Agreement
- Valuation Report
- Original Log Book
Duration of the loan
Equity offers an auto loan that typically lasts for a period of 36 to 84 months. A longer-term loan typically has a lower monthly payment than a shorter-term loan; however you end up paying more in the long run over the life of a longer-term loan
For example, you might have Ksh 30,000 monthly payment on 36-month loan or a Ksh 15,000 on a 60 month loan. Though the short term 36 month loan seems expensive initially the 60 month loan will cost more in interest
The auto loan’s monthly payment is typically fixed for the entire life of the loan. This thus means the payment will not fluctuate which is an important factor to take into consideration.
A portion of each payment will be diverted towards interest and reducing the loan’s principal balance. This means that with each payment made, the portion is applied to principal increases,
This means you pay the loan off faster toward the end than toward the beginning. For example Ksh 10,000 out of a Ksh 20,000 payment might go toward principal at the beginning of a loan, while Ksh 17, 500 might go toward principal at the end.
An auto loan is a type of secured loan, which means that the car you purchase is collateral for the loan. If by chance you fail to make payments, the car may be repossessed. Therefore ensure necessary research is done before deciding on this huge purchase.
You can easily get Equity car loan financing at cheap rates.
- KENYA COMMERCIAL BANK
KCB offers car loans to its customers under its asset finance program. The facility provides 90% of the value for new cars and 80% for used cars. In cases where the vehicle is bought through dealer promotion schemes, KCB finances up to 95% of the value for new vehicles. The maximum loan term for the KCB car loan is five years for new vehicles and four years for used vehicles.
It also has a Parliamentary Vehicle Scheme where it finances up to 100% for brand new cars for a loan period of not more than 54 months. This PSV scheme allows you to buy vehicles for commercial purposes by providing up to 80% financing. The main requirement for this scheme is that you should be a member of a sacco.
The following information is required when applying for the loan;
- Duly filled KCB application form
- Certified copies of Directors’ ID & KRA PIN certificates
- Certified copies of Certificates of Incorporation and PIN
- Company’s memos and Articles of Association
- Last 6 months bank statements (for non-KCB customers)
- Proforma invoice from seller or supplier
- Recent valuation report (for used vehicles)
- Copy of log books (for used vehicles)
You can access Kcb car loans at affordable prices.
- I & M BANK
The bank offers up to 80% of the value with a maximum loan term of four years for new cars. I&M finances up to 70% for used saloon cars for a period of not more than three years.
It also offers insurance premiums finance which is a short term loan that is designed to facilitate financing of insurance premiums. It is given against the customer’s insurance premium bill for a maximum of 10 months with a minimum finance of Ksh 25,000.
The requirements for the loan are;
- I&M asset finance form (filled)
- A copy of your ID
- A proforma invoice from the car vendor/dealer
- PIN certificate
- For salaried persons, a copy of the latest pay slips
- Bank statements for the latest six months
- Certificate of business registration (business persons)
- Business PIN
- Copies of contract if you are purchasing the vehicle to meet contractual requirement
You can access I&M bank car loans to get affordable rates
- Standard Chartered Bank
Standard chartered offers auto loans that finance up to 90% for new vehicles and 80% for used vehicles. The maximum amount you can access for new cars is Ksh 10 million and for used cars it is Ksh 5 million and it is for a repayment period of not more than five years.
It also provides financing for the cost of the car tracking device and insurance. Salaried persons with a gross salaries of Ksh 75,000 a month are eligible for the loan provided they have a salary account with the bank before Standard Chartered processes the car loan.
Requirements for Standard Chartered car loan;
- Introduction letter from employer on company letterhead
- Proof of income (certified copy of pay slip) and last 6 months bank statement (for new accounts)
- Copy of ID / passport
- 1 x passport sized photograph for new customers
- PIN certificate
- Proforma Invoice
- Log book (only for used vehicles)
- Valuation report (only for used vehicles)
- Agreement of Sale (only for used vehicles)
Access the best Standard Chartered bank car loans at convenient rates
- NCBA BANK
It offers salaried customers a facility to buy cars and finances up to 90% of the car’s value. The minimum car loan amount is Ksh 300,000 and the maximum amount is dependent on your ability to pay. The repayment period for the loan is a maximum of 6 years
The car loan requirements are:
- Valuation from AA of Kenya/Franchise
- Copy of sale agreement showing proof of contribution
- Copy of the vehicle’s log book
- BANK OF AFRICA
The bank offers financing of between 50% and 80% of the total cost for repayment of between 12 to 48 months. However, the car will act as security for the loan. Its advantage is that it offers competitive interest rates and the installments to be made match your income. The bank will also process and disburse the loan in a week if all the requirements are met.
The following are the terms and conditions to consider;
- The vehicle should not be more than eight years old
- The vehicle must have a comprehensive insurance policy covering its full value and the interest indicated on the policy document
- Bank of Africa must approve the insurance company issuing the vehicle’s policy
- The vehicle you purchase must be installed with anti-theft devices
- The car will be owned by the bank and the client until the loan is cleared
Requirements for the loan are as follows;
- BOA application form
- Bank statements for the latest six months
- Evidence of the value of a new car from the dealer
- Original valuation from AA of Kenya for used cars
- Certified copies of ID or passport and PIN certificate
- For an imported vehicle which is not registered, you have to submit copies of import documents plus duty receipts and a copy of the vehicle’s log book
- A letter from your employer detailing the terms of employment for salaried employees
Access Bank Of Africa car loans at affordable rates
- ABSA KENYA
Requirements for the loan;
- 6 months’ statements for non-customers
- National ID or passport of the directors/sole trader/partners
- PIN certificate of the directors/sole trader/partners
- Certificate of registration (sole trader/partnership)
- Certificate of incorporation (limited company)
- Memos and articles of association (limited company)
- PIN certificate of the company
- Resolution to borrow (limited company)
- Business permit/Sale agreement/Pro-forma invoice
- Copy of log book and valuation report for used vehicles
- Last 3 years’ audited accounts (for loans above KES15 million)
- National ID or passport
- PIN certificate
- Payslips for the last 3 months.
- Letter from employer confirming terms of employment
- 6 months’ statements for non-customers
- Sale agreement/Pro-forma invoice
- Copy of log book and valuation report for used vehicles
You can access Absa car loans at cheap affordable rates
Check out the various terms and conditions of the various banks and compare them to your current situation and make an informed decision.
Visit carhubb and check out the galore of vehicles and make a choice you will not regret.
Carhubb has a financing plan that will suit you click the link below to access it and obtain a loan that enables you to achieve your goals;
Carhubb has launched in Kenya in a move that will see other car listing companies like Cheki.com tremble with fear. This is because all signs indicate that Carhubb.com is a formidable player in the Kenyan Automotive industry arena. All eyes are on this startup as they launch their marketing offensive across the country.