Best Logbook Loans in Kenya in 2020

Hey, are you looking for logbook loans in Kenya? Well, we’ve done our research & here is the full list where you can get instant logbook loans in Kenya in 2020.

Let’s get started.

Where can I get a logbook loan in Kenya?

You can access logbook loans in Kenya from various institutions, these include:

1. Platinum Limited

Anyone who owns a private, commercial, or passenger service vehicle. You can secure a Loan against more than one motor vehicle at the same time.

Platinum limited loan application Requirements

  • Clear copy of the original ID.
  • Certified Bank statements for the last six months.
  • Get a copy of KRA Pin.
  • One recent color passport-sized photographs
  • Original Vehicle Logbook
  • Valid Comprehensive Insurance cover.
  • Certificate of Incorporation / registration. (For Business owners only)
  • Personal checkbook.
  • Latest three months pay slips (For Salaried Employees Only)
  • Employment card /employment contract letter (For Salaried Employees Only)


The repayment period ranges from 1 to 12 months.

There are no penalties for settling your financial liability before the end of your contract term.


  1. Minimum loan amount: Ksh. 50,000
  2. Maximum loan amount: Ksh. 2,000,000

Read more on Platinum Credit

2. Samchi Credit

This Samchi loan enables you to get cash using your vehicle as security.

Samchi credit also allows third-party logbooks with written consent from the owner.

Once the loan is disbursed, the logbook is kept by Samchi Credit Limited and is transferred back upon repayment of the loan.

The range of the loan amount that can be borrowed is from Kshs.50, 000 to Kshs. 1,000,000.

3. FinCredit

FinCredit allows you to pledge your car as security for a loan of up to 12 months.

This facility often finances 50 percent of the value of the vehicle. This is, however, subject to valuation and perfection of security.


  1. Copy of ID for Kenyan’s and valid passport for non-citizens
  2. Get a copy of PIN
  3. Copy of Utility Bill
  4. Certified Payslips (3 months)
  5. Certified Bank Statements (6 mths)
  6. Signed chattels mortgage document
  7. Valuation of the subject car by a reputable valuer such as AA of Kenya

4. Momentum Credit

Momentum Credit logbook loans are a secured loan against the borrower’s vehicle.

The credit facility lends up to Ksh. 5,000,000  within 24 hours. They lend up to 50% of the car’s value.


  1. 3 Months Payslip (for employees)
  2. 6 Months Bank & Mpesa Statement
  3. Original logbook
  4. Copy of National ID
  5. Copy of KRA PIN
  6. Proof of Residence
  7. Motor Vehicle Valuation Report
  8. Proof of Comprehensive Insurance
  9. One Passport Photo
  10. Motor Vehicle Tracking Certificate

Are you an SME and need a loan? Check out this resource on How to get SME Loan in Kenya.

Why Log Book Loans?

These days, if you need some extra cash for an emergency, there are so many options to look into. This means that you can access some money by leveraging your vehicle logbook as security.

The logbook loans in Kenya are secured against the value of your car; the loan can be used to either expand a business, venture into a new business, or even an emergency that needs immediate mitigation.

This kind of loan is subject to a loan appraisal process. Once approved, the loan is usually disbursed within 24 hours or more depending on the institution.

I, however, advise you only to consider a logbook loan in Kenya if you have been denied access to credit elsewhere.

Also, read about blank check car loans.

How do I get a logbook loan in Kenya?

It is essential to understand that before handing over your logbook, you need to know how this type of loan works. If you do not keep up with repayments, then your vehicle could be taken away.

Before you can be granted a loan, one of the requirements would be first to transfer the ownership of the car to the lender. Once you have paid off the loan, the property will be transferred back to you.

If you fail to repay your loan on time, your car will be sold off to recoup the loan interest plus the principal.

The loan amount applied depends on a few things, these include the age of the car, the amount of money you make, the mileage on the vehicle as well as the general condition of the car. This will also determine the amount of money you will be required to pay monthly.

Interest rates on logbook loans in Kenya can be high compared to mainstream finance.

The loans, on the other hand, come with lower interest rates as compared to different types of loans, even for people with bad credit, such as payday loans.

Logbook loans typically offer repayment periods of between 12 – 36 months, which is much longer than you get with a payday loan. Plus, it provides more time to get your finances in order.

Also, read about what to do if a bank says no.

What do I need to get a logbook loan?

You will be required to hand over your logbook or registration documents of the car to prove ownership as part of the loan process.

The lender by right will conduct a check on your vehicle to make sure that the value given is indeed the correct one and that it’s free from other financial obligations. The lender will also want to confirm the ownership of the vehicle.

Personal details will be requested as part of the process; this includes your financial information, e.g., income, regular expenditure, etc. also, your physical address may be required.

Read also: How to reduce credit risk in your business.

The lender also does a credit check and a review of loan affordability. This is done to ensure that you can make payments.

Depending on the different lenders, the process can be completed in as little as one hour, and the cash transferred within 24 hours.

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Beth is a Kenyan Journalist with a passion in matters Kenya. She is knowledgable about the country of Kenya and shares her knowledge with our readers.

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