The following is a compilation of the List of Best Logbook Loan Lenders in Kenya. These are financiers who offer loans to clients, utilizing vehicle logbooks as collateral. The majority of lenders offer loans within 24 hours. The loans are available for up to 80% of the vehicle’s value, regardless of the model and age of the vehicle.
List of Best Logbook Loan Lenders in Kenya
The following is a list of the most reputable providers of logbook loans in Kenya, in no particular order.
1. Mwananchi Credit
Mwananchi Credit is a reputable provider of logbook loans in Kenya. It allows individuals to borrow up to 80% of the trade value of their vehicle. It typically takes approximately six hours to approve the loan.
To apply for the loan, an individual must possess a comprehensive insurance certificate, six months of bank statements, an authentic logbook, and an M-Pesa statement.
Contact number: 0709 147 000
Email: info@mwananchicredit.com
2. MOGO Kenya
The company is a member of the Mogo Finance Group, which offers logbook loans in the range of KES 100,000 to 1,500,000, with a 24-hour turnaround. One has the option of selecting a repayment period of up to five years, with the repayment schedule being either weekly or monthly, as per the client’s preference.
Contact number: 0768 469 112
Email: info@mogo.co.ke
3. Auto Advance Logbook Loans
It is a transparent, dependable, and trusted provider of logbook loans in Kenya, offering loans without any additional fees or CRB checks.
Millenium Place, Buru Buru, Nairobi
Contact number: 0765 650 650
Email: info@autoadvancelogbookloans.co.ke
4. Jijenge Credit Limited
Jijenge provides loans with repayment terms of 1 to 12 months, with amounts spanning from Ksh. 50,000 to Ksh. 10,000,000.
Requirements
Logbook of the original vehicle
A duplicate of the KRA pin
Two clear reproductions of the original identification document One recent color passport-sized photograph
A comprehensive insurance policy that is valid
Renewal notice/motor valuation report Contact: 0703 282 727, 0711 282 727
Email: info@jijengecredit.com
5. FinCredit Limited
Operational in Uganda and Kenya, it is a premier credit-only microfinance institution. It provides a variety of loans, including logbook loans, SME/employee loans, new KCC loans, immediate loans, fincredit staff, and rep loans.
Contact information: 020 386 1673, 0735 880 417, and 0722 425 050
Email: credit@fincredit.co.ke
6. Bidii Credit Limited
The subsequent prerequisites must be satisfied in order to qualify for the company’s logbook loan:
- The vehicle must be registered in your name or the name of your guarantors.
- An unblemished credit record
- A six-month bank statement accompanied by a checkbook
- Valuation of motor vehicles
- Logbook for motor vehicles
- Two signed motor vehicle ownership transfer applications that are blank
- 2 passport photographs of the applicant
- Documents that serve as evidence of comprehensive motor vehicle insurance
Contact number: 0709 840 000
Email: info@bidiicreditkenya.co.ke
7. Platinum Credit
Platinum Credit provides logbook loans with a repayment period of 1 to 12 months. The loans are available in the amount of ksh50,000 to Ksh2,000,000.
Requirements
- Last six months’ bank statements
- A clear replica of the original identification card
- Original vehicle logbook Copyrighted KRA pin
- A comprehensive insurance policy that is valid
Contact information: 0709 900 000, 0730 900 000
Email: online@platinumcredit.co.ke
8. Momentum Credit
The company has the capacity to lend up to KES 2,000,000, and the approval process typically takes 24 hours. They offer loans of up to 60% of the vehicle’s value.
Needs
Original logbook Copy of identification KRA pin Motor vehicle valuation report
Comprehensive insurance Bank statement for the past six months
Contacts: 0709 434 000, 0709 434 900
Email: info@momentumcredit.co.ke
9. Citizens Credit Limited
This organization provides logbook loans that may be collateralized by multiple motor vehicles simultaneously.
Requirements
- Original logbook KRA Pin of applicant National ID of applicant 2 passport photos 6 months of bank statements
- Certificate of comprehensive insurance
Loita Street, Nairobi, 11th Floor, Finance House
Contact number: 0722 646 687
10. Ngao Credit Limited
Ngao Credit provides rapid loans against motor vehicles, allowing individuals to borrow up to 60% of the vehicle’s value with a repayment period of up to 24 months.
Requirements
Logbook of origin
Original national identification card and pin Bank statements from the most recent six months
Cheques with a postdated date
All-inclusive insurance
Contact number: 0709 650 000
Email: info@ngaocredit.com
Please assess your capacity to repay the loan prior to borrowing. In addition, pay close attention to the interest rates and fees.
