Stanbic, Autochek inks deal to provide vehicle financing for businesses

Autochek Uganda Manager Jacob Muddu (3rd L) and Stanbic Bank Head of Vehicle Asset Finance, Ronald Ssonko (4th R) during the partnership signing agreement on Oct.20.

This comes at a time car prices have surged by between 10 and 15 percent citing a drop in supply from source countries

Kampala, Uganda | THE INDEPENDENT | Local businesses seeking to boost their field operations can now benefit from affordable vehicle financing options courtesy of a new partnership between Stanbic Bank Uganda and Autochek, a Pan-African auto-dealership company.

The offer which also extends to individual buyers enables customers of Stanbic Bank Uganda to acquire new or used vehicles of their choice, for personal or commercial use, through Autochek’s digital platform with over 50, 000 verified and high-quality vehicles.

With an inbuilt auto-loan system, the Autochek platform enables a customer to search for a vehicle of their choice and proceed to apply for financing at competitive market rates in partnership with Stanbic Bank Uganda.

Through the partnership, Stanbic Bank customers are to enjoy Autochek’s 360-degree solution that offers car search and acquisition financing, after-sales service as well as an opportunity to sell their Auto assets.

Powered by a data analytics engine that makes it easier for financial institutions to offer credit to consumers, Autochek is building the financial infrastructure to drive the penetration of auto financing across Africa, by offering an online marketplace for buying and selling vehicles, as well as insurance, warranties and aftersales, making it a one-stop-shop for all automotive needs.

Autochek Uganda’s Country Manager, Jacob Muddu said “At Autochek, we believe financing is critical to catalysing the automotive industry in Uganda. With this partnership, we will empower consumers in Uganda to get more quality options for car ownership while growing the automotive ecosystem in the country.”

Stanbic Bank Uganda’s Head

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