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Loan basics
What is a logbook loan?+
A loan secured against the value of your vehicle. The lender (in our case, our regulated micro-finance partner) registers a joint interest in your logbook with NTSA for the duration of the loan. You keep driving the car. When you finish repaying, the joint interest is removed.
How much can I borrow?+
Our partner advances from KSh 50,000 up to KSh 3,000,000, capped at 90% of your vehicle's assessed market value.
How long can I take to repay?+
Tenors range from 3 months to 36 months. You can clear early at any time with no penalty, and you save the unaccrued interest.
Speed & process
How fast can I really get the loan?+
Most complete applications result in cash in your account within about 2 hours. The slowest 5% of cases run up to 4 hours, usually due to remote-location valuations.
Can the valuation happen at my location?+
Yes. Our partner dispatches a certified valuer to your home, office or business in all major Kenyan towns.
What documents do I need?+
Original logbook, National ID, KRA PIN, 6-month bank or M-Pesa statement, two passport photos and a proof of residence.
Fees & interest
What does 'no deductions' mean?+
If you qualify for KSh 1,000,000, our partner disburses KSh 1,000,000. The 5% fee is added to the loan principal and amortised and never taken off the disbursement.
What does the 5% fee cover?+
Our partner's single 5% fee covers loan processing, NTSA joint registration, professional vehicle valuation and GPS tracker installation. Cashlog does not charge customers a separate fee.
How is interest calculated?+
Our partner uses a true reducing-balance basis. Each month, interest is computed only on the outstanding principal.
Are there early repayment penalties?+
No. Pay early, save the unaccrued interest.
Eligibility & vehicles
What vehicles are accepted?+
Our partner accepts private cars, PSVs (matatus, taxis), vans and light commercial vehicles, less than 15 years old, with a clean Kenyan logbook in your name.
Can I apply if I'm CRB-listed?+
Yes. A negative listing isn't an automatic disqualification with our partner. The vehicle is the primary security.
Does the logbook need to be in my name?+
Yes, or jointly with a spouse who co-signs.
Tracker & security
Will the tracker affect my driving?+
No. It is a passive GPS device with no ignition cut-off, no movement restriction.
Who has access to the tracker data?+
Only authorised partner staff during default escalation. Pings are encrypted and retention-limited per Kenya's Data Protection Act.
Defaults & restructuring
What happens if I miss a payment?+
Our partner issues a notice and a 14-day cure window. If repayment isn't possible, they'll offer restructuring options. Recovery is always the last resort.
Can I restructure my loan?+
Yes. Our partner offers tenor extensions and payment holidays subject to assessment. Speak to your Cashlog concierge and we'll coordinate.
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