Top 10 Best Logbook Loans in Kenya: Expert Insights and Tips 2024

Discover everything about Logbook Loans in Kenya with our comprehensive guide. Understand how they work, explore the top lenders, and make an informed decision with expert insights. Your ultimate resource for finding the best logbook loans in Kenya

Dec 17, 2023 - 14:50
Dec 17, 2023 - 14:54
Top 10 Best Logbook Loans in Kenya: Expert Insights and Tips 2024
Top 10 Best Logbook Loans in Kenya: Expert Insights and Tips 2024

In the bustling financial landscape of Kenya, logbook loans have emerged as a beacon of hope for many seeking quick and accessible financial solutions. These loans, secured against the borrower's vehicle, offer a unique blend of convenience and flexibility, especially appealing to those who might find traditional credit avenues less accessible.

At the heart of logbook loans lies a simple yet powerful concept: using your vehicle as collateral to secure a loan. This approach breaks down barriers commonly associated with credit scores and stringent lending criteria, making it a favoured option for many borrowers. Whether for emergency funds, business expansion, or personal needs, logbook loans provide a lifeline in times of financial need.

This article aims to navigate the intricate world of logbook loans in Kenya, offering a comprehensive guide that sheds light on the best options available. We will delve into the workings of logbook loans, exploring their advantages and potential pitfalls. Additionally, we will spotlight the country's top 10 logbook loan providers, dissecting their offerings, requirements, and unique selling points to help you make an informed decision.

As we journey through this financial guide, we will uncover the nuances of each lender, from interest rates and repayment terms to the speed of service and customer experience. Our goal is not just to list lenders but to provide a deeper understanding of what each brings. This information will prove invaluable for anyone considering a logbook loan, ensuring you step into this financial avenue with knowledge and confidence.

So, buckle up as we embark on this enlightening journey through Kenya's logbook loan landscape, where financial solutions are just a vehicle's worth away!

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Understanding Logbook Loans

What is a Logbook Loan?

In Kenya, a logbook loan is not just a financial term; it's a gateway to opportunity. A logbook loan is a type of secured loan where your vehicle serves as collateral. Unlike traditional loans that scrutinize your credit history, logbook loans focus on the value of your vehicle. It's straightforward: your car's worth determines the loan amount you can access.

This unique lending approach is particularly beneficial for those who may have hit a roadblock with conventional credit systems. Whether facing urgent financial needs or looking to capitalize on a business opportunity, a logbook loan provides a quick, collateral-based solution.

How does it work?

Picture this: you own a car and need immediate cash. With a logbook loan, you can unlock the financial value of your vehicle. Here's how it rolls out:

  1. Vehicle as Collateral: You present your vehicle's logbook or registration document to the lender.
  2. Loan Assessment: The lender evaluates your car's value, offering a loan amount typically between 50% to 70% of this value.
  3. Repayment Terms: You agree to a repayment plan, which can span six months to 3 years, depending on the lender's policy and preference.

The process is designed for speed and simplicity, making it an attractive option for those needing quick access to funds.

Pros and Cons

Every coin has two sides, and logbook loans are no exception. Let's explore the pros and cons:


  • Accessibility: A lifeline for those with poor credit histories. If traditional loan doors have closed on you, the logbook loan window is wide open.
  • Quick Cash: Need cash fast? Logbook loans are known for rapid processing and disbursement, often within a few hours​​.


  • Risk of Repossession: The biggest downside? If you default on repayments, you risk losing your vehicle. It's crucial to consider this before signing up for a logbook loan.
  • Interest Rates: While accessible, these loans can come with higher interest rates than traditional ones. It's important to weigh this factor in your decision-making process.

Top 10 Logbook Loans in Kenya

Navigating the sea of logbook loan providers in Kenya can be overwhelming. But don't worry, we've got you covered. Here's a closer look at the top 5 logbook loan providers, each offering unique benefits to suit different needs.

1. Platinum Credit Limited: A Trailblazer in Logbook Loans

Platinum Credit Limited is a pioneer in Kenya's logbook loan landscape. Established in 2003, it has carved a niche in Kenya and neighbouring East African countries.

Key Highlights:

  • Diverse Services: Beyond logbook loans, they offer salary advance loans and asset financing.
  • Loan Requirements: Simple documentation such as a vehicle logbook, national ID, and proof of income is needed.
  • Tech-Savvy: Engage with their services through the PesaPap App for a seamless experience​​​​.

2. Bashy African Credit: Quick, Affordable Logbook Loans

Bashy African Credit is known for its rapid and cost-effective logbook loan services. They prioritize simplicity in their process, making it accessible to many borrowers.

Key Highlights:

  • Speedy Disbursement: Funds can be received in less than 2 hours.
  • Accessible Loan Terms: Borrow up to 50% of your car's value with minimal credit checks.
  • Simplified Process: Basic requirements include your car's logbook, national ID, KRA PIN, and a small application fee​​.

3. Phoenix Capital: Flexibility at Its Finest

Phoenix Capital offers flexible logbook loans, adapting to the varying needs of borrowers. Their approach focuses on instant cash provision, allowing borrowers to use their vehicles.

Key Highlights:

  • Loan Versatility: Borrow up to 70% of your car's value.
  • Rapid Access to Funds: Receive cash within just 2 hours.
  • Straightforward Requirements: Includes KRA pin, passport photo, original logbook, bank statements, and comprehensive insurance cover​​.

4. Ngao Credit: Speed and Service

Since its establishment in 2017, Ngao Credit has made a mark with its fast service in loan disbursement. They cater to those who need funds urgently without imposing prepayment penalties.

Key Highlights:

  • Quick Turnaround: Receive funds within 24 hours of approval.
  • Flexible Loan Amounts: Loans range from Ksh 100,000 to Ksh 500,000.
  • Customer-Friendly Terms: No prepayment penalties, allowing early loan closure without extra fees​​​​.

5. Momentum Credit: Transparent and Fast Financing

Momentum Credit prides itself on offering transparent and speedy financial solutions. They aim to transform the economic landscape in Africa with their innovative approach.

Key Highlights:

  • High Loan Ceiling: Borrow up to Ksh 2,000,000 within 24 hours.
  • Flexibility in Financing: Finance up to 60% of your car's value with flexible loan terms.
  • Minimal Documentation: Basic requirements include an original logbook, ID copy, and KRA PIN​​​​.

6. Jijenge Credit Ltd: Speed and Efficiency Combined

Jijenge Credit Ltd is renowned for its swift approval process, making it a go-to option for those needing funds. Based in Nairobi, this microfinance institution offers a streamlined loan experience.

Key Highlights:

  • Rapid Approval: Secure a loan within just 1 hour.
  • Diverse Loan Ranges: Catering to various financial needs with a wide range of loan amounts.
  • Straightforward Requirements: Includes ID copies, KRA PIN, passport-sized photo, original vehicle logbook, and comprehensive insurance cover​​​​.

7. Mwananchi Credit Limited: Versatile and Reliable

Mwananchi Credit Limited offers reliability and versatility in its financial services. Known for competitive interest rates, they cater to various financial requirements.

Key Highlights:

  • High Loan Limits: Borrow up to Ksh 20 million.
  • Flexible Terms: Tailored to individual financial needs.
  • Comprehensive Requirements: Includes original logbook, KRA PIN, national ID, passport photos, bank statements, and insurance certificate​​​​.

8. Sonix Credit Ltd: Affordable and Accessible

Sonix Credit Ltd focuses on providing logbook loans with affordable interest rates. They offer an excellent alternative to traditional lenders, especially for borrowers looking for lower-cost options.

Key Highlights:

  • Loan Range: Offers loans from Ksh 50,000 to Ksh 600,000.
  • Financing Flexibility: Finances up to 50% of the automobile's value.
  • Varied Requirements: Includes logbook copy, valuation report, legal charge, joint registration, work ID Card, personal guarantees, and a post-dated cheque​​.

9. Africa Credit Limited: Fast and Efficient Service

Africa Credit Limited is about speed and efficiency, providing logbook loans of up to Ksh 500,000 within 24 hours. They stand out for their quick loan disbursement and efficient service.

Key Highlights:

  • Quick Loan Access: Disbursement within a day.
  • Streamlined Process: Minimal documentation and fast approval.
  • Comprehensive Requirements: Bank statements, identity proof, motor vehicle records, utility bill or rental lease, logbook, and insurance proof​​.

10. Fin Credit: Versatile Loan Application Channels

Fin Credit innovates in the logbook loan space by offering multiple channels for loan applications, including online platforms and USSD codes. Their specific conditions cater to a diverse client base.

Key Highlights:

  • Multiple Application Methods: Apply via website, app, or USSD code.
  • Tailored Loan Conditions: Specific requirements for different borrowers.
  • Innovative Approach: Adapts to modern consumer needs and technological advancements​​​​.

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FAQs: Navigating the World of Logbook Loans in Kenya

As we explore the realm of logbook loans in Kenya, it's natural to have questions. Here, we address some of the most frequently asked questions to help you navigate this financial path more confidently.

Are logbook loans safe in Kenya?

When obtained from reputable and licensed institutions, logbook loans are generally safe. However, it's crucial to understand the terms and conditions fully. This includes being aware of interest rates, repayment schedules, and the risks involved, such as the potential for vehicle repossession in case of default​​.

Can I get a logbook loan with a poor credit history?

One of the key advantages of logbook loans is their accessibility to individuals with poor or no credit history. The loan is secured against the vehicle's value rather than the borrower’s credit score. However, it's important to know that these loans might have higher interest rates than traditional ones​​.

What happens if I fail to repay the logbook loan?

Failing to repay a logbook loan can lead to the lender repossessing the vehicle used as collateral. To avoid such scenarios, it's crucial to assess your ability to meet repayment obligations before taking out a logbook loan​​.

Can I use my vehicle during the logbook loan period?

Many logbook loan providers allow borrowers to continue using their vehicles while the loan is active. However, confirming this with your specific lender before proceeding with the loan​​is essential.

What are the benefits of logbook loans?

Logbook loans offer several benefits, including quick access to cash, no need for extensive credit checks, flexible loan amounts, continued use of your vehicle during the loan period, flexible repayment options, no restrictions on loan usage, minimal documentation requirements, and the potential to improve your credit score with timely repayments​​.

How do I choose the right logbook loan provider?

When selecting a logbook loan provider, consider factors such as the lender's reputation, transparency in operations, loan terms, interest rates, approval process, customer service, and compliance with regulations. It's also important to compare different options to find a loan that best suits your financial situation​​​​​​.


The world of logbook loans in Kenya offers a versatile and accessible financial solution for many. Understanding the intricacies of these loans, from the application process to the responsibilities that come with them, is crucial in making an informed decision. By choosing the right lender and being clear about the terms and conditions, you can effectively leverage your vehicle's value to meet your financial needs.

Joseph Richard Joseph Richard, a leading contributor to, uses his decade-long expertise in finance, business, and technology to offer clear, reliable guides and analyses. His work aids Kenyans in making informed financial and business decisions, earning him a reputation as a trusted industry authority.