Logbook Finance

Use your vehicle logbook as collateral for quick and flexible financing

From 1.33% per month (16% APR)

What is Logbook Finance?

Logbook finance is a secured loan where you use your vehicle's logbook as collateral. You retain ownership and use of your vehicle while accessing the funds you need.

Why choose Utu Bora Credit? Our rates: 1.33% – 1.67% monthly (Reducing Balance) | Competitors: Mogo 2.55% flat (~37% APR), MyCredit 5% flat (~54% APR)

Quick Approval

Get approved within 24-48 hours with minimal paperwork and fast processing.

Competitive Rates

Enjoy affordable interest rates with flexible repayment terms tailored to your needs.

Keep Your Vehicle

Continue driving your vehicle while repaying the loan. Ownership remains with you.

Requirements

  • Original Logbook (must be in your name)
  • National ID / Passport
  • KRA PIN Certificate
  • 3 months bank statements
  • Proof of residence
  • Two contact persons

Loan Features

  • Loan Amount: Up to 80% of vehicle value
  • Repayment Period: 6 - 36 months
  • Interest Rate: 1.33% – 1.67% per month (16% – 20% APR)
  • Calculation Method: Reducing Balance (not flat rate)
  • No hidden fees - transparent pricing
  • Early repayment allowed without penalty

Loan Calculator

Compare Flat Rate vs. Reducing Balance calculations

Reducing Balance (Our Method)
Flat Rate (Competitor Method)
Range: 1.33% – 1.67%

Monthly Payment: KES 0.00

Total Repayment: KES 0.00

Total Interest Paid: KES 0.00

Effective APR: 0%

Why Reducing Balance is better: With reducing balance, you only pay interest on the remaining principal. Flat rate calculates interest on the full amount for the entire term, making it significantly more expensive.

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