CFAO Motors Zambia Limited and Stanbic have signed a car ownership agreement that will enable more people to turn their dream of car ownership into reality and Sales Manager Mr. Andreja Ursic disclosed that the partnership between his company and Stanbic Bank was due to lower interest rates that have dropped to a record 18%.
Speaking at the media briefing in Lusaka today, Mr. Ursic noted that it is an opportunity for the emerging middle class aspiring young professionals and families to have a privilege to drive the cars of their dreams
Mr. Ursic added that the vehicles to be covered are medium-range vehicles like the latest starlet, the whole new Belta, Rumion, Corolla, Cross and Automark quality pre-owned vehicles.

“This financial option bridges the gap between the dream and reality, helping those dreams come to reality of getting a foot on a car ownership ladder,” he disclosed.
Mr. Ursic emphasized that both the new and old will be 100% financed by Stanbic and will eventually enable customers afford a new car or quality used one.
Meanwhile, Stanbic Bank Head of Vehicle and Asset Finance Mr. Horis Mainza stated that the CFAO and Stanbic vehicle finance program is most flexible finance option on the market.
Mr. Mainza disclosed that the personal loan will cover kwacha-rated used vehicles in a lapse of four years with special rates as low as 18% upto K500,000.
He described CFAO as a longstanding and trusted partner, and that it was a demonstration of valued partnership under flexible and affordable payment terms.
“As a leading vehicle and asset financing bank in Zambia, the partnership with CFAO has been that of offering competitive pricing and flexible financing terms to the market,” he disclosed.