SBM Bank Announces Auction of Motor Vehicles, Offers Cheapest Model at KSh 280k
- SBM Bank Kenya is set to auction several vehicles and a branding printer in Nairobi, Kisumu and Mombasa
- The financial institution set a condition for the sale of the motor vehicles, which includes a Range Rover and a Mercedes-Benz
- The lender set a deadline for prospective car buyers to submit their bids and explained the bidding process
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TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers deep insights into Kenyan and global economic trends.
SBM Bank Kenya has invited Kenyans to a public auction of several motor vehicles and a branding printer in Nairobi, Mombasa and Kisumu cities.
Source: Facebook
In a notice in the Daily Nation newspaper on Friday, August 22, the lender asked interested bidders to submit their bids by Friday, August 29.
How to bid for SBM vehicles
The financial institution noted that prospective vehicle buyers should make their applications to the tender committee.
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"Interested bidders are required to submit their bid in a sealed envelope marked "Tender for motor vehicle" addressed to the Tender Committee, SBM Bank Kenya, P.O. Box 34886-00100, Nairobi.
Drop the bid at SBM Bank Kenya Riverside Mews, to reach the committee not later than Friday, August 29," the notice stated.
Which vehicles are on SBM auction list?
| Registration | YoM | Model | Reserve price | Yard | Region |
| 1. KDH 971J | 2015 | Mercedes-Benz Actros | KSh 3.48 million | Matrix Yard | Mombasa |
| 2. Branding printer | N/A | Branding printer | KSh 750,000 | Philips Yard | Nairobi |
| 3. KAR 969E | 1995 | Range Rover | KSh 280,000 | Greypost Yard | Nairobi |
| 4. KDD 207N | 2021 | Isuzu NQR81 | KSh 1.15 million | Collinet Yard | Kisumu |
| 5. KCZ 984M | 2017 | BMW 318 I Series | KSh 1.94 million | Philips Yard | Nairobi |
| 6. KDN 130R | 2023 | Isuzu FVR90 | KSh 5.04 million | Startruck Yard | Mombasa |
| 7. KDJ 337X | 2021 | Mitsubishi Fuso | KSh 3.12 million | Collinet Yard | Kisumu |
| 8. KDP 969D | 2017 | Mazda CX5 | KSh 1.88 million | Philips Yard | Nairobi |
| 9. KDJ 228V | 2016 | Mercedes hybrid | KSh 5.86 million | Philips Yard | Nairobi |
The bank said bidders should contact 0115 027 596 or 0795-744-214 for more details.
"Successful bidders will be contacted within two working days from the date of the sale," it stated.
The lender clarified that the vehicles are sold on an "as is, where is" basis, indicating that there are no assurances or warranties from the seller and are offered in their existing state and location at the time of sale.
Source: Facebook
Which other companies are auctioning vehicles?
In related news, NCBA Insurance Company Ltd announced an auction of Toyota Fielder, Prado, and other vehicles.
The company assigned Dalali Traders Auctioneers to hold the auction.
According to the auctioneer, the cars will be sold on Tuesday, August 26, in several yards in Nairobi and Mombasa.
At the same time, Family Bank asked Kenyans to submit bids for 27 cars in Nairobi and other cities.
The lender is looking to auction off various car models, including Mercedes-Benz, Nissan, and Toyota, with the lowest-priced model selling for KSh 280,000.
The bank encouraged those who were interested in placing bids to do so online, by mail.
Proofreading by Asher Omondi, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
