This is an updated list of the best logbook loans providers in Kenya in 2021. These are moneylenders who provide loans to clients, with motor vehicles logbooks used as collateral. Most of these lenders offer loans within just 24 hours. In addition, the loans offered to cover up to about 80% of the vehicle’s value, irrespective of the car model and age of the car.
In no special order, here are some of the very best logbook loans providers in Kenya.
1. Mwananchi Credit
Mwananchi Credit loan will be one of Kenya’s most trusted logbook loans provider in Kenya in 2021. The company enables one to borrow up to 80% of the trademark of their car. The loan takes approximately 6 hours to be approved. One requires to have an original logbook, 6 months bank statements of the borrower, M-Pesa statement, and also a comprehensive insurance certificate to apply for the loan.
Contact number: 0709 147 000
Email: info@mwananchicredit.com
2. MOGO Kenya
The loans company is part of the Mogo Finance Group, which gives logbook loans that range from Ksh 100,000 to Ksh 1 500, 000 within 24 hours. One is able to take a repayment period of up to 5 years, with the repayment plan being on a weekly or monthly basis depending on a client’s decision.
Contact: 0768 469 112
Email: info@mogo.co.ke
3. Auto Advance Logbook Loans
One of the most committed, reliable, and transparent logbook loan providers in Kenya today provides logbook loans with no additional fee and no CRB checks.
Location: Located at Millenium Place, Buru Buru, Nairobi
Contact: 0765 650 650
Email: info@autoadvancelogbookloans.co.ke
4. Jijenge Credit Limited
Jijenge grants loans ranging from Ks 50 000 to Ks10 000 000, with the repayment term ranging from 1 to 12 months.
Logbook loans Requirements
- Original vehicle logbook
- Copy of your KRA pin
- Two clear copies of the original ID
- One recent color passport-sized photographs
- Valid comprehensive insurance cover
- Motor appraisal report/ Renewal notice
Contact: 0711 282 727, 0703 282 727
Email: info@jijengecredit.com
5. FinCredit Limited
It is a premier credit-only microfinance institution that works in both Kenya and Uganda. It provides fincredit staff, logbook loans, SME/employee loans, new KCC loans, instant loans, and rep loans.
Location: 1st Floor, Methodist Ministries Centre, along Oloitokitok Road, Lavington
Contacts: 020 386 1673, 0735 880 417 or 0722 425 050
Email: credit@fincredit.co.ke
6. Bidii Credit Limited
To qualify for this company’s logbook loan, the following requirements must be met by clients;
- The motor vehicle must be in your name/guarantors name
- Clean credit score history
- 6 months bank account statement with a cheque book
- Motor vehicle valuation
- Original Motor vehicle logbook
- 2 blank signed motor vehicle ownership transfer forms
- 2 clear passport photos of the applicant
- Documents to present proof of comprehensive motor vehicle insurance
Contact: 0709 840 000
Email: info@bidiicreditkenya.co.ke
7. Platinum Credit
Platinum Credit allows logbook loans with a repayment period from 1 to 12 months. The loans range from about 50 000 to 2 000 000.
Loan Requirements
- Bank statements for the latest 6 months
- Clear copy of original ID
- Copy of KRA Pin
- Original vehicle logbook
- Valid comprehensive insurance cover
Contacts: 0709 900 000 or 0730 900 000
Email: online@platinumcredit.co.ke
8. Momentum Credit
The logbook loan company can lend up to Ksh 2,000,000, which takes 24 hours for disbursement. In addition, they lend up to 60% of the car’s value.
Requirements
- Original logbook
- Copy of ID
- Your KRA Pin
- Motor vehicle valuation report
- Comprehensive insurance
- 6 months bank statement
Contacts: 0709 434 000 or 0709 434 900
Email: info@momentumcredit.co.ke
9. Citizens Credit Limited
This company gives logbook loans that can be secured against more than just one motor vehicle at the same time.
Requirements
- Original car logbook
- KRA Pin of applicant
- The national ID of the applicant
- 2 passport photos
- latest 6 months bank statements
- Comprehensive insurance certificate
Location: 11th Floor, Finance House, along Loita Street, Nairobi
Contact: 0722 646 687
10. Ngao Credit Limited
Ngao Credit providers quick loans against motor vehicles, where one can borrow up to about 60% of the car’s value, with a repayment period of up to 24 months.
Requirements
- Original car logbook
- Original national ID and Pin
- Latest 6 months bank statements
- Post-dated cheques
- Comprehensive vehicle insurance
Contact: 0709 650 000
Email: info@ngaocredit.com
