The MBCA Vehicle and Asset Finance (VAF) scheme provides financing to companies who wish to procure assets, replace their fleet or assist their staff to access car loans. The bank has partnered with reputable car dealers of major brands who can supply vehicles in this regard.
Features & Benefits
- Payable over a period of up to 5 years
- Initial deposit: 0-20%
- The value of the asset being purchased acts as collateral
- A dedicated unit has been set up responsible for VAF and customers will be able to access the service exclusively for this product
- Companies can replace their fleet as they can leverage on initial cash deposit
- Company employees can purchase brand new cars via reputable car dealers
- Preservation of working capital – lower upfront costs that frees capital for other business needs.
- Tax savings
- The asset can be used while you pay for it thereby assisting to generate funds to pay for itself.
What do I need?
- Memorandum & Articles of Association
- Certificate of Incorporation / Registration
- Identity particulars of Directors / Authorised signatories
- Constitution (Informal Bodies)
- Minutes (Informal Bodies)
- Proof of Residence – Directors / Authorised signatories (Zesa/ Telone or Water Bills)
- Latest annual tax return to ZIMRA
- Passport photos of Directors and Signatories