…CEO Luckford Phiri says new savings scheme will make vehicle ownership easier as company adds fourth option to existing plans
By TROY MUKUPA
LUSAKA – Eastluck General Dealers, one of Zambia’s longest-running car dealerships, is set to launch a new payment plan modelled on the popular “Chilimba” savings scheme to help more Zambians own vehicles.
CEO Luckford Phiri said the initiative, dubbed ‘Chilimba For Cars’, will be the company’s fourth payment option and is designed to be flexible for individuals anywhere in the country.
“Talks about this initiative are at an advanced stage and plans are already in high gear,” Phiri said in an interview.
“The goal is simple: to make vehicle ownership accessible to more Zambians. With ‘Chilimba For Cars’, we are bringing the community savings culture into formal car ownership.”
HOW ‘CHILIMBA FOR CARS’ WILL WORK
The “Chilimba” system is widely used in Zambia where groups or individuals contribute money daily, weekly or monthly toward a common goal.
Phiri said Eastluck will adapt the model to allow flexible contributions toward a vehicle purchase.
He said the launch date will be announced to the nation soon.
EXISTING PAYMENT OPTIONS
Eastluck General Dealers currently runs three payment plans that have operated for over 11 years:
1. 50% PLAN
This plan requires customers to pay 50% of the vehicle price upfront. The balance is paid within 60 days from the first date of payment.
“By the time the balance is due, the vehicle would have already arrived at Dar es Salaam port,” Phiri explained.
The plan covers Japan, UK, China, Singapore and Thailand stock vehicles. It comes with zero interest and zero extra charges.
Eastluck also handles registration and delivers the vehicle to the customer’s doorstep.
“We extended it from 45 days to 60 days to give business people enough time to save,” Phiri said.
“It’s the cheapest of all our payment plans.”
2. LOCAL STOCK PLAN
Financed in partnership with Care-Coop Finance, LOLC Finance and IZWE Finance, this plan is for vehicles already in Lusaka.
Customers pay 30% deposit and clear the balance in 6 to 36 months at 4.1% interest per month.
Eligibility requires the applicant to be loan-free and either in civil service or running a registered business.
“You can start driving with just 30%,” Phiri said.
3. FULL PAYMENT PLAN
For customers who pay the full amount upfront. Phiri said the price is locked in regardless of exchange rate fluctuations until delivery.
“There are no extra costs added,” he said.
10 YEARS IN BUSINESS
Eastluck General Dealers has offices in Lusaka’s 10 Miles area, Copperbelt, Eastern Province and Dar es Salaam, Tanzania. The company also serves clients in DRC, Malawi and Zimbabwe.
Phiri said the introduction of ‘Chilimba For Cars’ aligns with the company’s mission to make vehicle ownership possible for all income groups.
“We want a teacher, a marketeer, a civil servant to be able to say, ‘I can also own a car through small, consistent contributions’,” he said.
“That’s the power of Chilimba, and that’s what we are bringing to the motor industry.”
