Affordable Car Loans

Why choose khasakh Car Loans

We understand that purchasing a car is a significant investment, and we’re here to make the process as smooth and stress-free as possible.

  • Flexible Terms
  • Competitive Rates
  • Quick Approval Process
Apply Today
black Mercedes-Benz car
blue bmw m 3 coupe
red chevrolet crew cab pickup truck on brown sand
grayscale photo of cars on road

Vehicle Loan Terms & Conditions

Eligibility

This applies to a member who wishes to acquire a vehicle. The SACCO shall carry out all the transactions on behalf of the member for the acquisition of the vehicle.

  • This should be co-financed by the member and the SACCO.
  • The member will recommend to the SACCO the type of vehicle they want to purchase and the SACCO will carry out all the necessary requirements of obtaining the vehicle.
  • The member should have at least 20% of the total cost of the vehicle in cash.

The SACCO will fund 80% of the total cost under the following conditions

blue bmw m 3 coupe
  • 10% of the 80% in savings and 10% of the 80% in shares with the SACCO and the member is not eligible to withdraw the savings at any one time until the loan has been fully paid.
  • URA vehicle search
  • Search with the Uganda Police traffic department.
  • Repayment of the loan shall be within 24 months from the date of disbursement.
  • The vehicle shall remain in the ownership of the SACCO till the loan is fully paid up by the member.
  • The transfers of ownership shall be done after fully repaying the loan.
  • The vehicle should be comprehensively insured and renewed on an annual basis (after acquiring the vehicle). This is met by the member.
  • All costs involved shall be met by the member.
  • An interest rate of 16% per annum.

Loan Calculator

UGX

**Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.

Period Payment Interest Balance

Calculator Disclaimer

The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.