Top Logbook Loan Providers in Kenya: Where to Turn When You Need Cash Fast

Are you considering using your car to secure a loan? Our comprehensive guide to logbook loans in Kenya covers the top providers and the advantages and disadvantages of this borrowing option

May 30, 2023 - 12:18
May 30, 2023 - 12:53
Top Logbook Loan Providers in Kenya: Where to Turn When You Need Cash Fast
Top Logbook Loan Providers in Kenya: Where to Turn When You Need Cash Fast

Have you ever found yourself in a financial fix and wondered where to turn? What if you own a car and you need money urgently? Logbook loans might be the solution for you. They provide an option to get money quickly by using your car as collateral. This comprehensive guide will walk you through the ins and outs of logbook loans in Kenya.

 Understanding Logbook Loans in Kenya

A logbook loan is a type of borrowing where the car owner hands over their vehicle's logbook to a lender as security. Even after transferring the logbook, the borrower still has full access to their vehicle and can continue using it. The car technically belongs to the lender until the borrower fully repays the loan. In many scenarios, logbook loans act as emergency loans. They're perfect if you need urgent cash and you have a car.

Top Logbook Loan Providers in Kenya

There are several credible and reliable companies in Kenya where you can get a logbook loan. Let's explore them one by one.

1. FinCredit

FinCredit is a renowned firm that provides logbook loans swiftly and securely. To qualify for a loan, you must submit copies of your utility bills, ID and KRA pin, car valuation certificate, and certified bank statements and payslips.

2. Ngao Credit

Ngao Credit offers up to 50 percent of your car's value within 24 hours, with repayment terms extending up to 20 months. The loan amount can go as high as Kes 3 million, depending on your vehicle's value.

3. Platinum Credit

Platinum Credit is Kenya's top logbook loan provider, offering up to KES 2,000,000. The loan can be availed within 24 hours upon approval.

 4. Jijenge Credit

Jijenge Credit offers genuine logbook loans in Kenya, with eligibility up to 60% of the car's market value. They provide quick approvals, usually completed within an hour.

5. Mwananchi Credit Limited

Mwananchi Credit Limited is a reputable company offering logbook loans secured against your car's logbook for up to KSH. 20 million.

 6. Africa Credit Limited

This micro-finance company offers loans that are serviced by motor vehicle logbooks.

 7. Bridgewater Capital

At Bridgewater Capital, you can secure a logbook loan of up to 1 million within 24 to 48 hours, provided your vehicle is at most ten years old.

8. Momentum Credit

Momentum Credit lets you unlock up to 50% of your car's market value within 24 hours. You can borrow up to KES 5,000,000 from them.

Galpo Capital

Galpo Capital provides same-day loans in exchange for the car's registration document while you continue to use your vehicle.

10. Mogo Credit

Mogo Credit offers top logbook car loans in Kenya within 24 hours. They require minimum documentation and offer up to 60 months of repayment.

11. Samchi Credit

Samchi Credit provides logbook loans up to 50% value of the car if it's at most ten years old. You can get this loan within a day of application.

 How to Apply for a Logbook Loan in Kenya

Applying for a logbook loan in Kenya is a relatively straightforward process. Here are the general steps involved:

1. Check Your Eligibility

Firstly, ensure you meet the eligibility criteria. Most lenders require you to be a Kenyan citizen, have a steady income source, own a car not older than ten years, and provide a valid identification document.

 2. Prepare the Necessary Documents

Once you've confirmed your eligibility, gather all necessary 
documentation. These usually include a copy of your National ID, KRA pin, six months' bank statements, and your car's original logbook.

3. Submit Your Application

You can apply online or visit the lender's physical offices. Some lenders allow you to use it through a mobile app or SMS.

4. Car Valuation and Verification

The lender must conduct a vehicle inspection and valuation to determine its market value. This is done to assess how much you can borrow against your car.

 5. Loan Approval and Disbursement

The lender will always specify the loan terms, amount, and interest rates once your details are confirmed, and you qualify. Depending on the payment medium that you provided, the money will always be disturbed in your bank account,mpesa, etc.

 Advantages and Disadvantages of Logbook Loans

Like any other financial service, logbook loans have advantages and disadvantages.


  1. Fast Processing: Logbook loans are known for quick processing and disbursal, often within 24 hours.
  2. No Credit Checks: Most logbook loan providers do not conduct credit checks, making it a suitable option for individuals with poor credit scores.
  3. Access to Large Loans: You can access significant loan amounts depending on your vehicle's market value.


  • High-Interest Rates: logbook loans often come with high-interest rates; thus, you should always check with every lender to find one that suits you best
  • Risk of Losing Your Car: Remember both you and the lender are making profits; thus, if you fail to pay back the loan within the given time frame, your assets, in this case, your vehicle, will be returned.

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Logbook Loans are always a go-to place for every Kenyan who is a need in need of financial help. As much as it sounds welcoming, we remind you always to consider the agreement writings to know what to expect from the provider. In this article, we have already detailed some of the best logbook loan providers to make you stay ahead of the game. 

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Joseph Richard Joseph is a graduate of Mathematics and Computer Science (Applied Option). With expertise in Technology and Finance, he brings his knowledge to the field, demonstrating an authoritative understanding of these interrelated areas. Joseph is pursuing a Master's in Software Engineering, further expanding his skill set.