In Kenya’s fast-growing financial landscape, logbook loans have become a popular and reliable solution for individuals and business owners looking for quick access to cash without lengthy approval processes. These loans allow you to use your car as collateral while continuing to drive it, making them a flexible option for those facing emergencies or needing capital for business growth.
At Together As One, we specialize in affordable, transparent, and fast logbook loans that empower Kenyans to achieve their financial goals with confidence. In this comprehensive guide, we explain how logbook loans work, their benefits, eligibility criteria, and how to apply safely and efficiently in Kenya.
What Is a Logbook Loan in Kenya?
A logbook loan is a secured loan that allows you to borrow money by using your vehicle’s logbook as collateral. The lender temporarily holds your logbook as security while you continue using your car throughout the repayment period.
This type of loan is ideal for vehicle owners who need quick cash but do not want to sell their car or go through the tedious process of unsecured loans. Logbook loans are widely offered by microfinance institutions, banks, and private lenders in Kenya.
The amount you can borrow depends on the market value of your vehicle, typically ranging between 50% to 80% of its valuation.
How Logbook Loans Work in Kenya
Understanding how logbook loans work ensures you make informed financial decisions. The process is simple and efficient when dealing with a reputable lender like Together As One.
Step 1: Vehicle Valuation
The first step involves a professional valuation of your car to determine its current market value. Lenders use this figure to calculate your eligible loan amount.
Step 2: Submission of Documents
You’ll be required to provide the following documents:
- Original logbook (in your name)
- National ID and KRA PIN
- Proof of income or bank statements
- Recent passport-size photos
- Comprehensive insurance cover
Step 3: Loan Agreement and Transfer
Once approved, the vehicle ownership is temporarily transferred to the lender’s name and yours jointly in the NTSA TIMS system. This ensures the car cannot be sold or transferred until the loan is repaid in full.
Step 4: Loan Disbursement
After completing verification, the loan amount is disbursed, often within 24 hours. You can receive the funds via bank transfer or mobile money depending on your preference.
Step 5: Repayment and Reclaiming Your Logbook
You repay the loan in agreed installments, typically between 3 to 24 months. Once the loan is fully cleared, the logbook is returned, and ownership is transferred back solely to your name.
Benefits of Logbook Loans in Kenya
1. Quick Access to Cash
Logbook loans offer fast approval and disbursement, often within one business day, making them ideal for emergencies or business expansion.
2. You Keep Driving Your Car
Unlike asset repossession, logbook loans let you retain full use of your vehicle throughout the repayment period.
3. Flexible Loan Amounts
Borrow between KSh 50,000 and KSh 5,000,000, depending on your car’s value and your repayment ability.
4. Minimal Documentation
The requirements are straightforward compared to bank loans, reducing bureaucracy and saving valuable time.
5. Transparent Terms
At Together As One, we ensure clear, honest communication about interest rates, repayment terms, and fees — no hidden charges.
Eligibility Requirements for Logbook Loans
To qualify for a logbook loan in Kenya, you must:
- Be a Kenyan citizen aged 18 or above.
- Own a vehicle registered in your name (private or commercial).
- Have a steady source of income.
- Provide valid documents (logbook, ID, KRA PIN, insurance).
Some lenders may also consider vehicles registered under company names, provided ownership can be verified.
How to Apply for a Logbook Loan in Kenya
Applying for a logbook loan is simple when you work with Together As One.
Step 1: Visit Our Website
Go to Together As One and navigate to the Logbook Loans section.
Step 2: Fill Out the Application Form
Enter your details, vehicle information, and preferred loan amount.
Step 3: Submit Documents
Upload your required documents for verification.
Step 4: Get Instant Feedback
Our team reviews your application and provides an approval decision within hours.
Step 5: Receive Your Funds
Once approved, funds are sent directly to your account or M-Pesa.
Top Uses for Logbook Loans
Logbook loans can be used for various personal and business needs, including:
- Emergency medical expenses
- School fees or tuition
- Business expansion or stock purchase
- Debt consolidation
- Vehicle repairs or upgrades
The flexibility of these loans makes them one of the most versatile financial tools available in Kenya today.
Choosing the Best Logbook Loan Company in Kenya
When selecting a lender, it’s important to consider:
- Reputation and reviews
- Interest rates and repayment flexibility
- Transparency in loan agreements
- Speed of processing and customer support
At Together As One, we pride ourselves on providing ethical, fast, and affordable lending solutions that build long-term trust with our clients.
Our interest rates are competitive, and we tailor repayment plans to suit your income level. We also provide personalized guidance through the entire loan process, ensuring a seamless experience.
Common Questions About Logbook Loans in Kenya
1. What happens if I miss a payment?
If you miss a payment, contact your lender immediately. Reputable companies like Together As One often offer grace periods or payment restructuring options to help you stay on track.
2. Can I get a logbook loan with a joint vehicle ownership?
Yes. Both owners must consent and sign the loan agreement.
3. What vehicles qualify?
Most private and commercial vehicles qualify, provided they are in good condition and have valid documentation.
4. How much interest is charged?
Interest rates vary depending on the lender and repayment period, typically ranging between 3% to 10% per month.
Why Choose Together As One for Logbook Loans
- Fast approval – within 24 hours
- Flexible repayment terms up to 24 months
- Transparent interest rates
- Professional support throughout the process
- Secure handling of vehicle documents
Whether you’re an individual facing an emergency or a business owner seeking capital, Together As One offers the best logbook loans in Kenya with unmatched reliability and customer care.
Final Thoughts
Logbook loans in Kenya provide a practical and reliable solution for quick financing without selling your assets. By partnering with a trusted lender like Together As One, you can enjoy fair rates, fast approval, and full control of your vehicle. Always ensure you understand the terms and choose a company that values transparency and customer satisfaction.