Car loan, premium tears

Guys help me understand, I thought that guys always do comprehensive insurance for cars especially SUVs, on top of that they install car tracker. That being said, I am struggling to understand this guy predicament. Also is it worth taking a 5 year loan for a depreciating asset like a car?



upusu… unawekelea 3rd party io mzigo…
kama @Brayo44ki na ka 110:D

From my little understanding of how banks work, that car must have been bought with a personal loan (against salary) otherwise had it been on asset finance, ingekua kwa comprehensive.

Ps:He has a car rental biz that mainly focuses on SUVs

That’s a long period, am sure ishavukishwa border.

io gari mbona haiko insured??:smiley:

Ameinsure third party because he cannot afford over 170kin premiums.

kwani io mzigo aliiba…

Nope. Cartels at NTSA and Kamiti have facilitated registration and duplicate plates.

@uwesmake akiwa pale equity??
leta uhondo

Hiyo ishapigwa facelift ya 2019 na kuwekwa wrap. Kupata itakuwa mtihani sana.

io biashara yake ni gani enye hataki kupata loss? mwanabiashara lazima akuwe ready kupata profit ama loss.

If you are a show off man, it doesn’t make sense to take a loan. If you are a businessman, why pay cash and tie up capital with a depreciating asset.

From what I know, major banks insist on comprehensive insurance for the car during the period you are repaying the loan. So kama huyu jama aliibiwa na insurance haikulipa, then he got it from a bank that allows for non-comprehensive insurance… prolly a small bank or finance institution which tend to be more flexible on terms of loans.

Car was for car hire biz

Pole kwake

Most likely alichukua personal loan not a car loan na akachukua third party insurance. Majority of these big cars being driven around ziko on third party…a prado worth 4M insurance costs ni 170k…most people wanaonanga hiyo ni pesa mingi and avoid paying. Mtu atalipa mwaka moja ama mbili but akisota kidogo anaenda third party.

170k…hiyo si uwizi live live

I remember kuna thread kwa hii section not that long ago encouraging people to take Third party covers for their vehicles. How can you not take a comprehensive insurance for such an asset that’s being financed by a bank.

The last time i checked comprehensive insurance for such a car is 300k plus soo with deposit na bado analipa mkopo he might have decided to go for 3rd party kiasi anakua stable.