Kuwait Finance House (KFH) Executive Manager – Automotive & Equipment, Ahed Aleesa said that KFH experiment in the automotive field has started since incorporation and coped with all its development stages. He emphasized that KFH initially approached automotive agents to provide all types of customers needs according to Islamic sales system and on a limited individual basis. The relation with automotive agents developed and a small showroom was hired to exhibit new and used cars in Sharq area. Thereafter, KFH decided to establish a separate showroom to exhibit various types of cars in collaboration with the agents and named its “Grand Showroom” as it contained nearly all automotive agents under one roof. Later, the used cars showroom was annexed to the grand showroom. This style was the first of its kind in the region and the middle east, thus saving customers the time and effort and giving them the chance to compare advantages and prices. Also, this service has gathered the customer “buyer”, the agent “seller” and the financer “KFH”.
Aleesa added, during an interview with Al-Masaref Magazine, that KFH Auto is the largest modernized showroom in the middle east, covering an area of 38 Thousand square meters with an exhibition hall covering an area of 17 thousand square meters to accommodate more than 200 cars. The showroom covers more than 28 auto agents and 44 brands including cars, motorcycles, and boats. The showroom represents an integrated city for the sale and purchase of new and used cars and other vehicles in addition to lease and estimation products, traffic services, insurance, and ladies’ section. The building is operating based on smart buildings system and includes electric cars charging stations.
He mentioned that this unprecedented experiment was copied by many others who have made similar showrooms in the gulf and the middle east regions. However, KFH maintained its leading position in introducing and achieving this distinct idea which is considered as an added value and an unprecedented accomplishment in the Kuwait automotive market.
Aleesa added that KFH has managed to create a landmark for itself in the field of car purchase and lease finance, where hundreds of thousands of customers benefited from this product. KFH managed to enhance Kuwaiti merchants and automotive agencies, move the wheel of economy, and provide customers with a significant commodity with highly distinguished and safe credit facilities. He emphasized that KFH continued to develop its services and products, thus rendering KFH as the main market driver and taking the lead in the market despite increasing competition.
Electronic Platform for Automotive Services & Offers
Aleesa noted that KFH is the only bank at the market level to provide an electronic platform comprising different distinguished options concerning cars in addition to several offers and advantages for new and used cars, both types of leasing “lease to own and lease with maintenance” in addition to several other related services e.g. insurance, customers self-offers, best available car offers and electronic instalment calculation. The platform achieved great success among customers and those interested in the automotive market and looking for the latest developments in this field.
He added that KFH has launched its electronic platform concerning automotive services and offers on its webpage kfh.com/auto. Customers are able through this platform to view the latest KFH automotive offers and take their pick. Also, they can make a purchase or lease request through an electronic form on the webpage. Accordingly, the platform is the first gate for all those who wish to own or lease a car. A specialized and qualified team updates information and follows up customers right from the beginning of the submission of the service request till the end of the sale or lease transaction.
Aleesa mentioned that the platform represents KFH tendency to expand its electronic services to save time and effort. Access to the platform can be made through internet browser or mobile. The platform is designed to suit mobiles at the highest levels of safety, security, and accuracy to enhance the great value of the e-platform kfh.com/auto. The platform is an easy-to-use platform offering the best banking solutions to finance the purchase of new and used cars or to choose one of the leasing offers “lease to own or lease with maintenance” available at KFH auto showrooms. The customer can make the best decisions and ply easily and comfortably.
He added that KFH Auto is classified as one of the smart buildings that gather between sustainability elements and modern technology. Smart buildings play a basic role in the three sustainability factors (Humans, environment, and economy). However, the smartest move is represented in KFH success in putting all the pieces together under one roof, seller, buyer and financer, and providing all procedures related to the sale and purchase of cars as provided by official authorities including traffic, insurance and other services to make the purchase process enjoyable.
Services and Products
Aleesa said that the services provided through KFH Auto include sale of agents’ new cars, maintained used cars, motorcycles, jet skis, boats, marine equipment, pay here and receive abroad facility, operational and finance lease (retail and corporate), ladies services, finance all types of cars offered by commercial offices and individuals, spare parts and accessories service.
Facilities and Advantages
Aleesa indicated that KFH fulfills customers’ needs of car sale and lease finance through easy programs to suit their financial position according to the rules, regulations, terms and conditions. However, there are additional services which we provide to our customers (cash – finance – estimation – trust sale – leasing)
He added that the most distinguished finance solutions and advantages provided by KFH are as follows: Agent’s warranty and advantages – sale on cash or installments at competitive prices – appropriate settlement period – flexibility in payment (salary deduction – transfer to banks) – expat’s guarantee accepted.
Concerning the finance of cars in Kuwait and receipt abroad, Aleesa emphasized that this service includes new and used cars Also it includes the service “Pay in Kuwait and receive your car abroad” which is provided exclusively by KFH to several categories of customers to own the car of their choice and receive it in 4 countries: Egypt, Jordan, United States and Turkey, in cooperation with approved suppliers in Kuwait. The service is available for all Kuwait customers and expats. No salary transfer is required but credit terms and conditions must be fulfilled. The service is one of the most comfortable and easy finance solutions for customers. The service suits the citizens of the 4 countries working in Kuwait, Kuwaiti businessmen and investors in the said countries and Kuwaiti students studying there. Other advantages include a finance limit approximating KD 25 thousand on 5 years installment basis with competitive profit ratios and speedy completion of procedures.
Exclusive packages and discounts on the lease product
Aleesa said that KFH is the first bank to offer lease finance services in the market with advantages allowing KFH customers to drive their selected cars for a period of 5 years including comprehensive takaful insurance, factory warranty, alternative car in case of maintenance or repair of leased car. Also, the service includes the privilege of discount upon early settlement. The customer is given the choice either to purchase the car or return it to KFH upon expiry of the lease contract. KFH provides a wide variety of the most famous trademarks, nearly 80 models within its operational and finance lease programs.
KFH is distinguished for providing the best services to customers (retail and corporate) by providing a wide variety of the latest car models with a flexibility to estimate the lease value, lease contract period, comprehensive maintenance, comprehensive takaful insurance, alternative car, road assistance, and travelling in the lease car according to terms and conditions.