Get Quick Log Book Loans !
The Log Book Loan is a loan that is secured against the value of your car, enabling you to release up to 1,000,000 from your vehicle. Your vehicle is the security in the loan which enables us to often lend where more traditional finance sources are unable.
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.
All Log Book Loans are subjected to a loan appraisal process. Once a loan has been approved the loan will be disbursed within 5 hours, either Via M-pesa, cheque or to a bank account.
To be eligible for a logbook loan :
i. You must be over 18 and a Kenyan resident,
ii. You must be able to show you can afford payments,
iii. Own a vehicle which is free of finance and insured,
iv. Have proof of address.
What Happens To My Car After I get a loan?
You will keep with driving your vehicle while we hold on to your logbook for the full duration of the loan and once your loan is fully paid, you will get your logbook back.
How Do I Receive The Logbook loan?
We issue your loan 0 – 5 hours after receiving your application regardless of where you are based. Once we have discussed your requirements over the phone, we will arrange an appointment for you to meet one of our representatives in a convenient location for you. At the appointment we go through the documentation, making sure that you can comfortably afford the proposed repayment.
Thereafter, we can pay you in direct debit your account or cheque after loan application.
What Vehicles Do We Lend Against ?
For our logbook loans we consider the age of the vehicle (up to 10 years old). This includes vans, commercial vehicles and personal vehicles. We have a team of professional valuers who verify ownership and market value in 2 hours.
How Do You Know How Much Your Car Can Get?
You can qualify for up to 50% the market value of your motor vehicle.
What Should I expect To Pay For Setting up the loan ?
1. For an Auto Log book loan you will incur the following standard charges payable to the various services providers;
2. Legal fees
3. Log Book Search Fee
4. Valuation Fee
NB: These charges can either be paid upfront or included in your total loan amount.
How To Apply For A Logbook Loan at Wezesha Credit Limited:
Simply fill out the loan application form on our website. We will call you back to discuss the details; There is no need to come to our offices.
What are the Basic Requirements for the loan?
For you to qualify for the loan, you should have the following documents:
1. Clear copy of original ID.
2. Certified Bank statements for the last six months.
3. Copy of KRA Pin.
4. One recent color passport sized photographs
5. Original Vehicle Logbook
6. Valid Comprehensive Insurance cover.
7. Certificate of Incorporation / registration. (For Business owners only)
8. Personal cheque book.
9. Latest 3 months pay slips (For Salaried Employees Only)
10. Employment card /employment contract letter (For Salaried Employees Only)