Car financing is a way of buying a car with a loan. According to the contract, you and Mogo become the joint owner of the car you choose, and you become the user of the same car. When you repay all the fees according to your repayment plan, the ownership of the car is transferred to you.
You can apply for the amount of funding from 100,000 KES to a maximum of 2,500,000 KES with a repayment period of up to 60 months. The minimum downpayment is 20%.
You are obliged to pay monthly installments in accordance with the repayment plan attached to your loan contract. To make it easier for you, you will receive a text message as a reminder of any upcoming payment.
Under the provisions of Motor Vehicles Act Kenya, all the vehicles operating in public places should have car insurance cover with third party car insurance cover. It means that a car insurance policy must cover the third party in case of any accident.