dfcu Bank and CFAO Mobility Uganda have entered a new vehicle-financing partnership that will allow qualifying customers to finance up to 100% of the value of new Toyota vehicles, as the two companies seek to lower the upfront cost of vehicle ownership in Uganda.
The partnership was announced Thursday during the launch of the all-new Toyota RAV4 and Toyota Land Cruiser FJ at the CFAO Mobility Toyota showroom on 1st Street, Industrial Area, Kampala.
Under the financing arrangement, eligible customers can access loans at a preferential interest rate of 17% per annum, with repayment periods of up to 84 months, subject to credit assessment and the applicable terms of the offer.
The package also comes with a number of additional ownership benefits, including one year of free fuel, five years of free servicing, discounts on comprehensive insurance and one year of roadside assistance.
Eligible customers may also receive travel-booking discounts, health insurance for two loved ones and VIP lounge access for qualifying cardholders, depending on the applicable terms.
The financing deal comes as CFAO Mobility introduces the latest Toyota models to the Ugandan market.
The Toyota RAV4 features hybrid technology, advanced safety systems and a design aimed at combining everyday urban driving with longer-distance travel.
The Toyota Land Cruiser FJ brings the Land Cruiser brand into a more compact SUV, with a focus on durability and off-road capability while retaining everyday usability.
The partnership is aimed at customers who may need a new vehicle but face challenges raising the large amount of capital required for an outright purchase.
For businesses and entrepreneurs, the companies say vehicle financing can also allow customers to preserve working capital for day-to-day operations, expansion and other investments while paying for the vehicle over time.
dfcu Bank Chief Executive Officer Charles Mudiwa said asset financing can help individuals and businesses acquire assets without committing all their available capital at once.
“The challenge is often not whether the asset is needed, but whether customers can commit significant capital to acquire it at once,” Mudiwa said.
He said the partnership with CFAO Mobility would extend dfcu’s financing support to customers seeking new vehicles and other mobility solutions.
CFAO Mobility Uganda Managing Director Etienne Audeoud said vehicle buyers are increasingly looking beyond the purchase price when making decisions.
“Customers want certainty throughout the ownership experience. They want a quality vehicle, professional support after purchase and financing that is practical for their circumstances,” Audeoud said.
The partnership combines CFAO Mobility’s vehicle distribution and after-sales services with dfcu’s financing capacity, allowing customers to select and finance vehicles through a coordinated process.
The offer is open to salaried professionals, entrepreneurs, business owners, SMEs, high-net-worth individuals and customers who are new to dfcu Bank, subject to eligibility and credit requirements.
CFAO Mobility Uganda is the official distributor of Toyota vehicles in Uganda and provides manufacturer-authorised warranty services, genuine parts and after-sales support through nine locations across the country.
The companies say the new financing arrangement is intended to expand access to new vehicles while supporting mobility and investment for individuals and businesses in Uganda.