Dar es Salaam. Tanzanians purchasing Tata Tanzania vehicles will not need to have all cash, after Alliance Finance Corporation Limited (AFCL) announced that it has started a financing option for buyers. AFCL which was launched in Tanzania in 2017 become the go-to specialist company providing captive financing solutions for customers purchasing vehicles from Tata.
The company says finance is available for individuals, first-time buyers and companies looking to purchase commercial and passenger vehicles from Tata Tanzania.
AFCL Tanzania says in a statement that it finances almost 55 per cent of all vehicles sold by Tata Tanzania.
AFCL’s product offering includes flexible and affordable repayment terms, available in dollar or local currency funding, over 12 - 36 months, with minimal deposit requirements.
Since its inception less than 18 months ago, AFCL has financed more than 445 customers who, collectively, bought 626 vehicles.
AFCL says is in the process of establishing more captive finance solutions in key Sub-Saharan Africa markets of operations for the Tata International Distribution vertical. AFCL branches that will open soon include Kenya, Nigeria, Ghana, Zambia, Senegal, and South Africa later this year. The company says is providing a quick and easy application process and flexible payment terms for its customers.
“We are customer obsessed,” says Barret Schoeman, Head of AFCL. “Our policy of deep customer understanding and delivering customer value defines the way we do business, and our resourceful team is willing to go the extra mile to deliver proficient services.”