Deal hunters and mechanics, start your engines. NCBA Bank has announced a massive public auction of 53 vehicles, with reserve prices for some salvage units reportedly starting as low as KSh 35,000.

The auction, set to take place via the bank’s online bidding platform, features a diverse fleet ranging from high-end luxury SUVs to heavy-duty commercial trucks. The move to dispose of these assets highlights the bank’s aggressive recovery strategy on non-performing loans, but for the savvy buyer, it presents a golden opportunity.

What’s on the Block?

The inventory is scattered across yards in Nairobi, Mombasa, Nakuru, and Eldoret. Key highlights include:

• Luxury & Comfort: Mercedes-Benz sedans and Ford Everest SUVs for those looking to upgrade their ride on a budget.
• Workhorses: A fleet of Isuzu trucks and Mitsubishi Fuso canters, ideal for logistics businesses looking to expand capacity without the price tag of a showroom unit.
• The "Fixer-Uppers": The headline-grabbing KSh 35,000 price tag applies to select salvage units—likely accident wrecks or shells—that are perfect for spare parts dealers or garage owners.

How to Bid

Gone are the days of shouting matches in a dusty yard. NCBA has digitized the process. Prospective bidders must register on the bank’s portal, view the catalogue, and submit their offers online. The bank emphasizes that all vehicles are sold on an "as-is, where-is" basis, meaning there are no warranties. Buyers are strongly advised to physically inspect the cars before clicking "submit."

Economic Sign of the Times

While an auction is good news for buyers, it is a lagging indicator of economic distress. The volume of repossessed vehicles suggests that many borrowers are still struggling to service loans despite the improving macroeconomic outlook. For the 53 previous owners of these cars, the hammer falling is a tragic end; for 53 new owners, it’s a bargain beginning.