Family Bank Puts Dozens of Cars on Auction Starting from Just KSh 280K

A sudden move by Family Bank has stirred the market, offering Kenyans a rare shot at owning vehicles at prices never seen before. From as low as KSh 280,000, the bank is auctioning 27 cars, sparking a rush among bargain hunters.

In a notice published on Monday, July 21, the lender listed an assortment of cars including Toyota, Nissan, Subaru, Isuzu, and Mercedes-Benz models. The cheapest is a Nissan Vannette at KSh 280,000, while a Toyota Avensis goes for KSh 380,000. The list extends to high-end vehicles like the Mercedes-Benz Actros priced at KSh 4.2 million and a Mitsubishi Fuso Tipper for KSh 6.5 million.

The auction, which runs until July 28, features cars stored in locations such as Kiambu, Nyeri, Bungoma, Kitengela, Eldoret and Naivasha. Bidders are required to submit their offers through email, the Family Bank website, or physically at Family Bank Towers in Nairobi. All vehicles are sold on an “as-is-where-is” basis, meaning buyers assume full responsibility post-sale.

This disposal is part of the bank’s wider asset recovery strategy amid economic strain across the financial sector. Analysts believe the move reflects a broader trend among lenders to clear repossessed properties and boost liquidity.

Meanwhile, NCBA and Stanbic banks have joined the fray. NCBA is offloading 39 cars starting at KSh 370,000, while Stanbic is offering 22 vehicles, with the lowest listed at KSh 840,000. The parallel auctions are intensifying interest in the second-hand car market, especially among small businesses and first-time buyers.

With just days left before the bidding window closes, questions now emerge about how many units will find buyers—and whether this signals a wave of more distressed asset sales in the banking industry.