Best Logbook Loan Providers in Kenya (Updated 2024)

Simon Mwangi

Hey, are you looking for logbook loans in Kenya? We’ve done our research & here is the complete list of logbook lenders in Kenya in 2024.

Let’s get started.

Where can I get a logbook loan in Kenya?

Here is a list of the best logbook loans in Kenya:

1. Platinum Limited

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

Platinum limited loan application Requirements

  • Clear copy of the original ID.
  • Certified Bank statements for the last six months.
  • Get a copy of the KRA Pin.
  • One recent color passport-sized photographs
  • Original Vehicle Logbook
  • Valid Comprehensive Insurance cover.
  • Certificate of Incorporation/registration. (For Business owners only)
  • Personal chequebook.
  • 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

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 you can borrow 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 Kenyans and valid passport for non-citizens
  2. Get a copy of the PIN
  3. Copy of Utility Bill
  4. Certified Payslips (3 months)
  5. Certified Bank Statements (6 months)
  6. Signed chattel 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 secured loans 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

Why Log Book Loans?

There are many options to look into if you need some extra cash for an emergency. 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; you can use the loan 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.

How do I get a logbook loan in Kenya?

Understanding that you need to know how this type of loan works before handing over your logbook is essential. If you do not keep up with repayments, they could take your vehicle away.

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

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

The loan amount applied depends on a few things; these include the car’s age, the amount of money you make, the mileage on the vehicle, and the general condition of the car. This will also determine the amount of money you must pay monthly. In Kenya, logbook loan interest rates can be higher compared to mainstream finance.

On the other hand, the loans come with lower interest rates than different types of loans, even for people with bad credit, such as payday loans.

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

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 check your vehicle to ensure 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., and your physical address may be required.

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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As a freelance writer with a background in banking and accounting, Simon has the financial know-how to produce quality content on various topics. His experience gives him a strong foundation in understanding complex financial concepts and communicating them in an easy-to-understand way.
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