The Reality of Vehicle Importation
Importing a vehicle into Kenya is an exciting milestone, but it often comes with a complex web of financial obligations once the ship docks at the Port of Mombasa. Import duties, excise taxes, and VAT can often exceed the buyer's immediate liquid cash reserves, leading to expensive demurrage charges.
How Import Duty Finance Works
Our 100% financing solution for clearing costs is designed to bridge the gap between arrival and clearance. Here is a breakdown of what our financing covers:
- KRA Import Duty: The primary tax levied by the government on imported goods.
- Excise Duty & VAT: Additional taxes calculated based on the vehicle's age and CC.
- Railway Development Levy (RDL): A specific levy to fund infrastructure projects.
- IDF Fees: Fees for the Import Declaration Form processing.
- Port & Shipping Charges: Fees charged by the shipping line and the Kenya Ports Authority.
The "Together As One" Advantage
By opting for our import duty financing, you benefit from our reviewed 2% reducing balance interest rate. This ensures that you aren't just clearing your car quickly, but you are doing so with a stable and affordable repayment plan that doesn't strain your business or personal cash flow.
Success Tip for Importers
Always initiate the valuation and financing process at least 7 days before the ship's expected time of arrival (ETA). This allows us to have the funds ready the moment the KRA assessment is out, ensuring you drive your car home without a single day of storage fees.