Logbook loans in Kenya
Apply for logbook loans in Kenya by filling in the online application form on this page. You can also visit any of our offices Nakuru, Eldoret, Kisumu, Nairobi, Thika, or Mombasa offices.
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Best logbook loan terms in Kenya
Logbook loans are loans that use your car as collateral to access the desired credit facility. Most lending companies offer loans from as low as 30% of the value of the car while Mwananchi Credit offers up to 90% of the car value. Cheap car logbook loans in Kenya, enable car owners to get instant cash fast. Like most secured loans, these loans accompany specific interest rates from as low as 1.6% based on the repayment plan and amount borrowed. If you need quick cash using your vehicle as security, a logbook loan is a great option.
Logbook loans in Kenya require you to use cars at hand as collateral to access funds essential to solving any impending financial problems. Cheap car logbook loans in Kenya, enable car owners to get instant cash fast. Like most secured loans, these loans accompany specific interest rates from as low as 2.5% based on the repayment plan and amount borrowed. If you need quick cash using your vehicle as security, a logbook loan is a great option.
A logbook loan is a loan secured against your car. You can get upto 90% of the value of the car ( with newer models fetching higher ratios). You can as well combine several logbooks into one loan ( if you have a fleet of vehicles) and can qualify from a minimum of Kshs 100,000 to as much as Kshs 25,000,000 in a single loan.
Logbook Loans at Mwananchi Credit take six hours or less from the application, processing until disbursement is done. To help you get your loan even quicker than the six hours, you need to understand the process of logbook loan application which is as follows:
a) Online Application
1) On the site https://www.mwananchicredit.com/, click Logbook Loans and fill the calculator module with the amount you want to borrow and how long you want to repay it. The calculator shall estimate for you how much you shall be repaying on a monthly basis.
2) Click Get a quote and fill in the required fields . These are Name, Phone number, ID, and email. You may also fill in a PROMO CODE if you have some of the offers Mwananchi Credit runs.
3) Click Submit and your application will reach our team immediately. One of our customer care representatives shall get back to you within 30 minutes of your application ( During working hours )
4) After pre-approval, you shall be given our loan contract to sign and later you get your money within 6 hours.
In summary:
- Have Your Car or Motorbike: This means being an owner of the vehicle registered under your name.
- Choose Your Loan Amount: Use the online calculator to determine your loan amount before applying.
- Fill an Online Form: Provide your details through an online logbook loan application form. These include your name, vehicle details, and more.
- Sign A Contract: After pre-approval, visit Mwananchi Credit branches in Nairobi, Mombasa, Thika, Eldoret, Kisumu, and Kitengela to sign a contract and get your logbook loan approved.
Sometimes, logbook loans meaning can become confusing or interchanged with other loan types. In definition, logbook loans are loans offered to individuals with the vehicle used as collateral. If you fail to repay the debt within the specified period, the lender has the right to possess the car intending to settle withstanding amounts. The primary benefit of this loan type is that you still use the car while repaying the loan.
Most lenders offering logbook loans tend to consider credit scores and the history of borrowers before processing and granting loans. But with Mwananchi Credit, all people with car ownership can access funds without any difficulties. Therefore, this has become one of the best options to promptly get emergency funds whether you need logbook loans in Kitengela, Nairobi, Mombasa, or Kisumu.
How to get a logbook loan at Mwananchi
A logbook loan is a loan secured against your car. You can get upto 90% of the value of the car ( with newer models fetching higher ratios). You can as well combine several logbooks into one loan ( if you have a fleet of vehicles) and can qualify from a minimum of Kshs 100,000 to as much as Kshs 25,000,000 in a single loan.
Logbook Loans at Mwananchi Credit take six hours or less from the application, processing until disbursement is done. To help you get your loan even quicker than the six hours, you need to understand the process of logbook loan application which is as follows:
a) Online Application
1) On the site https://www.mwananchicredit.com/, click Logbook Loans and fill the calculator module with the amount you want to borrow and how long you want to repay it. The calculator shall estimate for you how much you shall be repaying on a monthly basis.
2) Click Get a quote and fill in the required fields . These are Name, Phone number, ID, and email. You may also fill in a PROMO CODE if you have some of the offers Mwananchi Credit runs.
3) Click Submit and your application will reach our team immediately. One of our customer care representatives shall get back to you within 30 minutes of your application ( During working hours )
4) After pre-approval, you shall be given our loan contract to sign and later you get your money within 6 hours.
In summary:
Have Your Car or Motorbike: This means being an owner of the vehicle registered under your name.
Choose Your Loan Amount: Use the online calculator to determine your loan amount before applying.
Fill an Online Form: Provide your details through an online logbook loan application form. These include your name, vehicle details, and more.
Sign A Contract: After pre-approval, visit Mwananchi Credit branches in Nairobi, Mombasa, Thika, Eldoret, Kisumu, and Kitengela to sign a contract and get your logbook loan approved.
Understanding Logbook Loans in Kenya
Sometimes, logbook loans meaning can become confusing or interchanged with other loan types. Logbook loans are loans offered to individuals with the vehicle used as collateral from 150,000 to 25,000,000 within 6 hours. We give up to 85% depending with car models. If you fail to repay the debt within the specified period, the lender has the right to possess the car intending to settle withstanding amounts. The primary benefit of this loan type is that you still use the car while repaying the loan with up to 6 years.
Most lenders offering logbook loans tend to consider credit scores and the history of borrowers before processing and granting loans. But with Mwananchi Credit, all people with car ownership can access funds without any difficulties. Therefore, this has become one of the best options to promptly get emergency funds whether you need logbook loans in Kitengela, Nairobi, Mombasa, or Kisumu.
About Mwananchi Credit Logbook Loans
Who’s eligible for logbook loans
Whether you need logbook loans in Nakuru, Eldoret, Kisumu, Nairobi, or Mombasa and own a car, you are eligible for this loan type. Besides, Mwananchi Credit accepts anyone with ownership of private, commercial, or passenger vehicles. Sequentially, you can get up to 80% of your car’s value when you apply for your logbook loan at Mwananchi Credit. This is because the car secures the debt granted while considering the vehicle’s depreciation value over time.
Mwananchi Credit Logbook Loans in Kenya
Mwananchi Credit thrives in providing logbook loans in Kenya, especially with its swift processing and disbursement approaches. Irrespective of the loan amount you need, Mwananchi Credit can quickly grant you the funds depending on your car market value. Essentially, borrowers can get any amount sought when looking to handle different emergencies.
What makes Mwananchi Credit stand out from banks and other financial lenders is approving loans without considering credit scores. The lender solely focuses on getting ownership of the vehicle in question and the capability to repay the granted amount. Several banks and independent lenders in Kenya will deny borrowers auto logbook loans instantly, more so when they have a bad credit history despite mending it over time.
Besides, most logbook loan lenders contemplate a substantial risk leading to borrowers to expect increased interest rates. But with Mwananchi Credit, you get logbook loans solutions at competitive rates. Besides higher loan amounts, borrowers have a flexible repayment schedule, ensuring you get what you need without compromising your finances.
Repayment terms
At Mwananchi Credit, you have between 1 to 24 months to repay your existing logbook loan. Typically, you can choose your preferred period within the timeframe to repay the principal amount plus interest rates. Borrowers can settle the debt before the period specified elapses without any penalties as it is also an effective method of repaying loans on logbook.
Logbook loan amounts
Though logbook loans vary depending on vehicle model, year of manufacture, and make, Mwananchi Credit ensures borrowers gain access to significant amounts. Notably, the lender offers logbook loan amounts from a minimum of 150,000 KES up to 20,000,000 KES. However, the lender will initially evaluate your vehicle, considering market value to determine the maximum loan amount you qualify for.
All Types of Cars Financed
Different people are looking for various car financing solutions for different vehicles. These include matatu loans in Kenya, used auto financing, and lorries financing in Kenya. Mwananchi Credit provides auto financing for both used and new cars purchased locally from either dealerships or showrooms.
Longer Repayment Periods
When you search ‘Toyota Kenya car loan,’ the intent is getting the right lender who fits your financial limits. It would also help if you had a lender with a flexible repayment plan to grant auto financing loans with an adequate time limit to repay. Mwananchi Credit allows borrowers to have up to 24 months of loan repayment. Besides, you continue to own and drive the car while settling the debt within the specified period.
What to expect when you apply for logbook loans at Mwananchi Credit
Mwananchi Credit offers the best logbook loans hence meeting borrower expectations regardless of the amount borrowed. With several logbook loan lenders promising the best services yet to deliver, Mwananchi does meet your needs. That said, here is what to expect;
- Clear-cut, fast, and precise logbook loan application process
- Swift processing and approval of logbook loans
- Cheap logbook loans in terms of interest rates
- Timely funds disbursement to borrowers
- Higher logbook loan amounts
- The flexible repayment plan for all borrowers
- Any vehicle can secure a logbook loan.
Can you get a logbook loan with bad credit history?
Yes you can. Logbook Loans are normally structured to withstand higher risk levels from the borrowers and priced accordingly to accommodate this risk. While your lender may check your CRB rating for informational purposes, this may be used for the record only but may not affect your ability to secure the loan. The fact that you are using your car’s logbook to secure the loan gives your lender enough credence that you shall repay your loan.
Can you get a logbook loan online?
Absolutely! Mwananchi Credit offers online application portal that makes it very easy for one to apply for their desired logbook loan amount. You just fill in the loan amount, duration of the loan and your personal details or particulars. Thereafter , the Mwananchi Customer Service team shall get back to you within half an hour.
Logbook Loan Requirements
If you have once or twice googled ‘log book loans Kenya’ and own a private, commercial, or passenger service vehicle, you are eligible for a logbook loan at Mwananchi Credit. Yet, you need to meet the minimum requirements before getting approved. These requirements include;
- Original car or motorbike logbook
- KRA PIN of the applicant
- Original national ID card of the applicant
- Two passport size photos
- Six months bank statement
- Comprehensive insurance certificate cover
Make an Inquiry on Logbook loans
If you have once or twice googled ‘log book loans Kenya’ and own a private, commercial, or passenger service vehicle, you are eligible for a logbook loan at Mwananchi Credit. Yet, you need to meet the minimum requirements before getting approved. These requirements include;
- Original car or motorbike logbook
- KRA PIN of the applicant
- Original national ID card of the applicant
- Two passport size photos
- Six months bank statement
- Comprehensive insurance certificate cover
Make an Inquiry on Logbook loans
Logbook Loan FAQs
Which logbook loans are available?
The most common logbook financing available remains secured by vehicles, meaning the vehicle’s original logbook secures the loan granted. Besides, you can also get logbook loans for motorbikes if you don’t own a car.
What makes you the best logbook loan company you can trust?
We offer higher loan amounts value to all your clients and guarantee fast processing of all logbook loan applications. Our easy logbook loans ensure our clients enjoy flexible repayment schedules at competitive rates which are transparent.
Where can I get quick logbook loans in Kenya?
Mwananchi Credit offer logbook loans in Nairobi, Mombasa, Nakuru, and Kisumu, Kitengela and Thika. We ensure you different applicants get premier logbook loan services across different parts. This is because we offer a higher logbook loan amount at competitive rates and with flexible repayment plans.
What is your repayment plan?
We have a monthly repayment plan of up to 24 months to choose your preferred period. That is, you can choose to repay the loan within a period of one to 24 months.
Do you offer logbook loans in Thika?
Yes, we have offices located in Thika to apply for your logbook loan and get instant funds from us. Again, you can apply online, and we’ll get back to you within no time.
How do logbook loans work?
Car loans are loan types where borrowers deposit vehicles as collateral using logbooks. The vehicle secures the loan while settling the debt within the specified period. When the borrower fails to repay, the lender gains the vehicle’s rights to recover the debt.
Which areas do you offer logbook loans?
We offer car loans to different people across Kenya to ensure everybody who owns a car can access fast cash. However, we have offices that facilitate logbook loans in Eldoret, Nakuru, Mombasa Thika, Nairobi, Kisumu, and Kitengela.
How can I get logbook loans in Mombasa?
You can visit our offices located at Jubilee Arcade, Moi Av. Road Ground Floor in Mombasa, and make your logbook loan application. You can also visit our online platform and apply for your logbook loan application.
Most car owners can face financial issues, hence opt for logbook loans in Kenya to access fast cash. However, comprehending this loan type is vital before applying, and this is where this guide comes in. You can thus apply for a loan at Mwananchi Credit if you own a car or motorbike.
Talk to us on 0709 147 000 and apply for logbook loans today!
Before applying for any logbook loan amount, it is essential to understand the variation of interest rates. The principal amount often accompanies specific interest rates based on the repayment period. Shorter repayment periods tend to have lower interest rates than prolonged plans. The logbook loan calculator helps you determine the rates applied on different loan amounts depending on your preferred repayment period.
Mwananchi Credit has an online calculator that helps borrowers determine interest rates based on the principal amount and the repayment plan at hand. If you need car loans in Kitengela or logbook loans in Kisumu, using an online calculator helps you get the right amount. Therefore, it is vital to consider a logbook loan calculator before applying for any loan.
Logbook Loans Mwananchi Video
Before applying for any logbook loan, it is essential to understand the variation of interest rates. The principal amount often accompanies specific interest rates based on the repayment period. Shorter repayment periods tend to have lower interest rates than prolonged plans. The logbook loan calculator helps you determine the rates applied on different loan amounts depending on your preferred repayment period. Tap here to access a Logbook loan calculator.
