In todays article, we will list the top logbook loans in kenya. Apply for an instant guaranteed logbook loan in kenya secured by the value of your car. Our quick logbook loans are easy to secure and are usually based on a. Lenders realized that financial emergencies happen to the most of us and one thing that has remained constant is peoples need for cash. Logbook loans lbl is a form of financing, whereby the loan advanced is secured against the borrowers motor vehicle. Dont worry any more, in this post am going to give you the best places in nairobi where they give loans on logbooks in the shortest time possible. Aug 28, 2019 logbook loans in kenya have become popular as the need for credit continues to grow. At fincredit you are required to give your car as security, by pledging it for 12 months, however, you will be allowed to use the car as you enjoy the loan once your car has been evaluated you are eligible to 50 per cent of the value of your car. All log book loans are subjected to a loan appraisal process. We offer log book loans in kenya as a form of financing whereby the loan advance is secured against the borrowers car. We arrange same day loans in exchange for the registration document, while you keep the use of your vehicle. Up to ksh 1 million in 24 hrs all you needrequirements latest 6 months certified bank and mpesa statements. While some may check on your credit score, most companies in kenya rarely consider it to offer logbook loans.
Are you in need of a loan and want to use your motor vehicle logbook as a collateral for the loan but wondering where to go. Logbook loan allows you to borrow money against your vehicles title while retaining your car and a right to drive it. Top 10 loan lenders against logbook in kenya plus their. Once a loan has been approved the loan will be disbursed within 5 hours, either via mpesa. Mogo is renowned for offering fast and easy logbook loans. Apply for log book loans here, other available loans include asset finance, import finance, cheque discounting, lpo financing, advance salary loan. Take a loan against your payslip to bridge your financial requirements. Momentum credit can lend up to kes 5000000 to help you unlock trapped cash in your car within 24 hours to help meet your personal and business financial needs without selling your car. Log book loans are secured against your car and available anywhere in the uk. Access salary advance, title deed loans, import duty finance. Izwe loan pays up to 70% the car value, upto ksh 3,000,000. When you decide to take a logbook loan, it means that you have made up your mind to hand over your vehicle registration documents with all your details to proof that you own the vehicle. The personal secured loan will help you get started and with flexible repayment periods up to 72 months.
You can borrow up to 60% of the value of your car in 6 hrs and repay within a period of up to 20 months. We have the most competitive and attractive rates in town. Jan 24, 2020 the logbook loans in kenya are secured against the value of your car. The logbook loan lender is given ownership of your car until you fully pay back the loan, although the lender owns the vehicle, you can. Description microfinance institutions that offer loans to individual working through our our own banking branches and partner located all over kenya. Top 10 places to get quick emergency loans nairobi kenya 2019. With motisha, you choose the car you want to buy, well finance up to 70% the value of the car, sit back and relax while we handle your vehicles documentation, processing, and importation. Jijenge credit jijenge credit pays up to 60% the car market value. Auto advance logbook loans kenya ltd, nairobi, kenya.
Milhan access capital affordable logbook loans in kenya. Car logbook loans are great solutions for quick cash, and they are fairly easy to obtain since your logbook acts as collateral for the loan. Why take an auto logbooks loan with ngao credit ltd. The processing of the loan is always quick and easy, and one can apply online or by visiting the leaders company offices.
About logbook loans in nairobi instant cash on logbooks. Once a loan has been approved the loan will be disbursed either via mpesa, cheque or bank transfer. In short term liquidity, by striving to make funds available to them within 24 hours of application. Top 10 loan lenders against logbook in kenya plus their contacts and location. Best loans against item lenders in kenya loans kenya blog. In kenya, mogo provides financing to passenger cars and logbook loans from 100,000 to 1,000,000 kenyan shillings for a period of 6 to 60 months.
You will also have to sign credit agreement and a bill of sale. Logbook loans in nairobi and other cities have provided a sufficient gateway for car owners to secure a substantial amount against their car. Log book loan in kenya up to 20 million from mwananchi credit. Anyone who owns a private, commercial or passenger service vehicle qualifies for auto logbook loan. All you need is to have an active kcb account for a minimum of 3 months, and requisite security including title deeds, logbooks, share certificates, among others. What you need to know about logbook loans in kenya. Steve oke chapchap market june 1, 2019 no comments. Log book loan statutory deceleration form platinum. Platinum credit kenya personal loans urban kenyans. See more of auto advance logbook loans kenya ltd on facebook. In kenya, mogo provides financing to passenger cars and logbook loans from 100,000 to 1,000,000 kenyan shillings for a.
Logbook loans logbook money v5 loans log book loans uk wide. Loans import finance asset finance loan against shares jijenge loan faqs. These loans are typically processed in approximately 24hrs. The rise of logbook loans in kenya and what you need to know. Imara capital was registered in june 2015 registered in kenya under companies act cap 486. The last resort for many of us has been borrowing from creditors. Car logbook loans car logbooks can be used to access quick loans in kenya from some lenders as security. Car cash point logbook loan release cash from your. Logbook loans in kenya have become popular as the need for credit continues to grow. The logbook loans in kenya are secured against the value of your car. Failure to repay the loan, the company will have the right to repossess the car. Logbook loans in kenya and how to apply instantly kenyans.
The loans once approved is made available within 24 hours. Will better the interest rate of any other logbook loan company just show us a written quote. Logbook loans cash logbook loans secured against all vehicles. Once approved, the loan is usually disbursed within 24 hours or more depending on the. Secured loan kcb bank kenya, kcb personal banking services. Its a quick and simple way to withdraw cash from a vehicle, without a formal credit check.
Car loans in kenya nairobi, mombasa, nakuru get your. Get up to 80% of your cars value in cash regardless of age and model of your vehicle. We will match you with a loan program that meet your financial need. Auto advance offers easy logbook loans throughout the uk, with stores in london and the south east, and over 600 agents nationwide. By filling in the form below, we will match you with the best and cheapest secured auto logbook loans provider in kenya. Are the best rated logbook loan company, with a rating of 9. Just because you have a hard time accessing loan facilities for whatever reasons, it does not mean that you will not be able to get one of the many available ecredit loans we offer.
Oct 18, 2019 auto logbook loans ngao credit offers quick loans against motor vehicles. Valuation of the subject car by a reputable valuer such as aa of kenya. Logbook loans cash logbook loans secured against all. This loan can be used for any purpose and is ideal for startups, business expansion or to supplement the working capital cash flow deficits. These loans will give you a chance to get money very, very quickly. To get loans against your car logbook from fairdeal for cash, call 0722169168 or 07361639 5. Luckily, we have a variety of loan providers that can grant you instant online loans in kenya and help you save the situation. The vehicle owner will be asked to produce the logbook v5 to prove they are the registered keeper of the vehicle. People love to see cars as liabilities until they get into a fixture that required urgent funding. Mwananchi credit limited was incorporated as a private limited company under the companies act cap 486 of the laws of kenya. A logbook loan company can take you to court to get this money back. Thanks to the many creditors in kenya today, you can get your logbook loan.
You can now use your logbook to get a loan of upto 500,000 in just 24hours. We managed to make sure that you are sorted within the lowest time possible. This loan enables borrowers to tap into the value of their car without having to sell it, and can be secured against almost any type of vehicle, including motorcycles, motorhomes, vintage cars and even boats and light aircraft. Our covid19 community guidelines tips, advice and news related to trading on gumtree during the covid19 crisis. Loans against logbook lenders in kenya tuko kenya online.
Logbook loans can seem tempting if you need cash fast and have a poor credit rating, but there are always alternatives. Emergency loans have increasingly become popular over the recent years, from mobile app loans to logbook loans. What are your terms for auto loans against a logbook. The car is the primary security and therefore the loan is against your car. Milhan access capital offers affordable logbook loans in kenya among other loan products. Auto logbook loans, loans on cheques and guarantors. Izwe kenya is a non deposittaking financial institution authorised by the government of kenya to offer unsecured check off loans to all civil servants, tsc members in all counties, as well as selected parastatals and private institutions. Get instant quotes, fast payouts and great rates online. Today i have 11 lenders who can give out loans against logbooks in kenya in less than 24hrs. Citizens credit financial service nairobi, kenya 7. If you need cash urgently, sonix credit ltd will give you the quickest solution thanks to our logbook and title deed loan. Logbook loans logbook money v5 loans log book loans. Meridian acceptance limited nairobi, kenya phone, address. The rise of logbook loans in kenya and what you need to.
Logbook loans uk online same day payouts auto advance. We allow you pledge your car as security for a loan of up to 12 months. Auto logbook loans are great solutions for quick cash, and they are fairly easy to obtain. Information regarding our loan product can be obtained at our website. A logbook loan is a loan secured against any vehicle, for example getting a loan against your car. We changed the narrative of lending, just an hour and you are sorted. We offer asset finance, bid bonds, logbook loans, loans on title deeds. This, according to mr macharia, is to know your customer requirements as set by the central bank of kenya. Due to the ongoing coronavirus pandemic and the governments social distancing instructions to help reduce the spread of the virus, we have decided to temporarily halt the provision of logbook loans. This kind of loan is subject to a loan appraisal process. The loan facility is secured using your cars logbook up to sh.
Your repayment schedule can be on a weekly or monthly basis depending on your choice. Logbook loans in kenya genuine providers in 2020 urban. Have been named best logbook loan provider for 2 years in a row at the consumer credit awards. The credit company then sends a loan agreement via email to its qualified clients for signatory purposes before disbursing the money through the traditional bank. When you take out an auto log book loan with wezesha credit, you provide the original logbook, which is be held for the duration of the loan and returned to you as soon as the loan is settled. This loan can be used for any purpose and is ideal for people looking to expand their business, foray into new ventures or supplement the working capital cash flow deficits. The loan can be secured against more than one motor vehicle at the same time. Auto logbook loans ngao credit offers quick loans against motor vehicles. The amount of loan given per item is always a percentage of the item market value mostly placed at around 50% 60% recommended goods. If you plan to apply for an ecredit loans, there are some important aspects that you should consider before applying. You can secure a loan against more than one motor vehicle at the same time.
Auto advance logbook loans kenya ltd home facebook. A logbook loans, sometimes referred to as a v5 loan, is a shortterm loan that is secured on a vehicle. Ecredit prides itself on being available to our borrowers when time is of the essence and you need quick financing either for an emergency, as part payment for your vehicleasset purchase or that business deal that will not wait. If you cannot get a normal loan or have nothing to sell, logbooks loans may be what you need. This loan can be used for any purpose and is ideal for people looking to expand their. Logbook loans get logbook loans in kenya nairobi, mombasa.
They prefer employment or business documents before asking for any owned tangibles. Personal loans in kenya, quick secured personal loans. Nov 15, 2019 a logbook loan is a great way to secure cash quickly or if you have been refused credit before and you are looking for a quick decision on a loan. Logbook loan this loan is secured against your car. Nov 12, 2019 while some may check on your credit score, most companies in kenya rarely consider it to offer logbook loans. Done this for a long time and all our benefactors can attest to this. Nov 27, 2018 luckily though,some lenders not mainstream, tend to consider owned goods for example cars to give out loans against them and forget about the client being employed or in business. In kenya we have several companies which offers these kind of logbook loans. Not all legitimate lenders do this though especially the mainstream commercial banks who dont ask for collateral right away. In general, loans against items in kenya are short term loans given within less than 24hrs and repayable in less than a year.
Leave your comment spam and offensive messages will be removed your name. As a result of the corona virus pandemic, business is trending in hard financial and. We have the quickest loans, all our products are processed in under an hour. Logbook loans are loans secured against your vehicle. As the name suggests, logbook loans are loans secured against the value of your vehicle either a personal car or a company vehicle, most logbook loans lenders offer loans from 50% the value of your. Apr 07, 2020 these are the places you can access online loans in kenya in 2020. It initially started operations under the names mwananchi microlink ltd which was incorporated on 15th april 2010. The rapid development of mogo is possible by the presence of stable equity capital, highperformance technological solutions and effective management of the loan portfolio. View gumtree free online classified ads for cash loans against cars and more in south africa.
Depending on the loan amount, period and the vehicle you wish to purchase, the annual percentage rate ranges from 30. You will still keep use of your vehicle even as you enjoy the loan facility. That i acknowledge upon full repayment of my loan platinum credit will release the original log book to my custody after 14 working days. Ronald ngala street, nairobi, kenya, 00100 rated 4. We are incorporated as a limited company, as per the kenyan companys act. Motisha from ngao credit is the service that lets you choose, relax and drive. Platinum credit kenya logbook loan is a loan that is secured against the value of your car. Some people choose to sell items around their home that they may not be using anymore, and others go to a financial institution to get a loan. The log book loan is a loan that is secured against the value of your car.