Hire Purchase in Kenya
Hire-Purchase is a product specifically designed for the Kenyan market and is available for SMEs and corporates in Kenya. It has similar characteristics to Finance Lease. Companies offering Hire Purchase in Kenya remain owner of the asset during the tenor of the lease, but you will automatically become the owner of the asset at the end of the contract term, against a very advantageous residual rate.
Hire Purchase in Kenya – Principles
The Kenyan Hire Purchase law is governed by the principles of the English common law as modified by the Hire Purchase Act Cap 507 of the Laws of Kenya
These companies maintains relations with a large range of sales and distribution partners where you are free to choose the appropriate asset suited for your specific business activities. You are also free to determine the duration of the rental contract that will meet your individual business needs.
Hire Purchase in Kenya – Check Off Arrangement
If they have a check-off arrangement with your employer, all you need is your latest payslip and ID together with a guarantor meeting similar criteria. After filling necessary HP documents authorizing your employer to deduct monthly installments from your salary, you will have the item without paying any deposit.
Hire Purchase in Kenya – Ordinary Hire Purchase
Anyone can buy from them under this category. All that you need is to have a regular source of income, be an adult Kenyan citizen and provide a suitable guarantor. Thousands of individuals who are businessmen/businesswomen, farmers, professionals such as doctors, pharmacists, teachers etc as well as individuals working in private and public companies have benefited greatly from this schemes.
Hire Purchase in Kenya – Cash Purchase
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All the above items are available on cash. You can deposit money in bits with companies and collect your item when you complete payment.
Hire Purchase in Kenya – Flexible Delivery
You can purchase an item from companies branches and collect it from another branch in the country at no extra cost e.g. you can buy in Mombasa and collect in Kisumu, Kitale, Eldoret, Nyeri etc. meaning you can furnish your distant rural home while working in town.
Hire Purchase in Kenya – M-PESA
Hire Purchase in Kenya companies have a pay bill accounts.
Hire Purchase in Kenya
A comprehensive list of all businesses that offer hire purchase in Kenya, their addresses (postal and physical), contacts (telephone and e-mail) and a link to the hire purchase in Kenya business websites.