Here is a ranking of Kenya’s top logbook loan providers. These lenders offer loans to customers in exchange for vehicle logbooks as collateral. The majority of lenders offer loans within a day. Regardless of the vehicle’s age or model, the loans are issued to cover up to 80% of its worth.
Logbook loan providers in Kenya
1. MOGO Kenya
The business, which is a member of the Mogo Finance Group, offers 24-hour logbook loans with amounts ranging from KES 100,000 to 1,500,000. One may select a repayment duration of up to 5 years, and the client may select a weekly repayment schedule or a monthly repayment schedule.
Contact: 0768 469 112
2. Mwananchi Credit
One of Kenya’s most reputable providers of logbook loans is Mwananchi Credit. It permits one to borrow up to 80% of their car’s trade-in value. The loan is granted in around 6 hours. To apply for the loan, one must have an original logbook, six months’ worth of bank statements, an M-Pesa statement, and proof of comprehensive insurance.
Contact: 0709 147 000
Email: info@mwananchicredit.com
3. Jijenge Credit Limited
Jijenge Credit offers loans starting from Ksh. 50K to 10 Million and a favorable repayment period from 1 to 12 months.
Requirements include an Original vehicle logbook, a Copy of KRA pin, 2 clear copies of the original ID, 1 recent color passport-sized photograph, Valid comprehensive insurance cover, Motor valuation report/ Renewal notice
Contact: 0711 282 727, 0703 282 727
Email: info@jijengecredit.com
4. Auto Advance Logbook Loans
It is one of the most reputable, trustworthy, and open providers of logbook loans in Kenya, offering loans with no additional fees and no CRB checks.
Location: Millenium Place, Buru Buru, Nairobi
Contact: 0765 650 650
Email: info@autoadvancelogbookloans.co.ke
5. Bidii Credit Limited
The following requirements to qualify for a loan;
- Vehicle in your name/guarantor’s name
- Clean credit history
- at least 6 months’ statement accompanied by a chequebook
- Motor vehicle valuation
- Motor vehicle logbook
- 2 motor vehicle ownership transfer forms, signed
- 2 passport photos of the applicant
- Documents to show proof of comprehensive motor vehicle insurance
Contact: 0709 840 000
Email: info@bidiicreditkenya.co.ke
Read, List of Top Car Importers in Kenya
6. FinCredit Limited
In Kenya and Uganda, it is a leading credit-only microfinance institution. It provides logbook loans, SME/employee loans, new KCC loans, quick loans, rep loans, and loans for staff members of fincredit.