Logbook Financing

Do you require Cash urgently?

You can now access Logbook Financing. Get quick cash against the value of your motor vehicle. Our processes are fast and simple in line with our vision to sustainably improve lives!

PRODUCT LOAN AMOUNT
Logbook Financing Minimum loan amount is Kshs 100,000. The maximum loan amount is Kshs 1,000,000

Our Target Market

  • Customers in Business
  • Salaried customers

At Real People Kenya Limited We Promise

  • You as the customer will have a one-stop-shop for your long term as well as short-term financial needs.
  • We offer up to 60% financing the value of the motor vehicle
  • Quick turn around time
  • Competitive interest rates
  • No hidden costs

Basic Requirements

  • Original logbook
  • National ID
  • KRA PIN
  • Proof of income – 6 months bank statements or official payslips (if employed)
  • Kenyan Citizen – 25 years of age and not older than 65 years

Loan Repayment Duration

  • Flexible repayment period of up to 12 months

Frequently Asked Questions

A: This is a loan that is secured against the value of your vehicle.

A: All individuals who own private motor vehicles, and the logbooks are registered under their names. However, we do not finance PSVS except Ubers. Real People will also not finance Heavy Commercial Vehicle/ Big trucks for logbook financing.

A: You need.

  1. Your original logbook
  2. Your National ID
  3. Your KRA PIN
  4. Proof of income – 6 months Bank statements
  5. Official Payslips (If employed)

A: We promise cash in 48 hours

A: Minimum loan amount is Kshs 100,000. The maximum loan amount is Kshs 1,000,000

A: Our Interest rates are very competitive in the market at 3.5% per month.

A: Yes, you will pay for the initiation fee, Tracking fee, and valuation fee which are all priced on the loan.

A: Yes, the product is limited to motor vehicles whose age limit is not more than 15years, at the point of application.

A: Yes, you will still use your car exactly as you normally would. You are however responsible for all insurance and maintenance of your car. While the loan is secured against the car, the only difference you will notice is that you cannot sell the car until the loan is repaid.

A: Real People’s internal valuers will evaluate the value of the car at a subsidized rate.

A: Yes, Under the provisions of the Motor Vehicles Act Kenya, all the vehicles operating in public places should have car insurance cover. Real People will accept vehicles whose insurance is comprehensive and Real People can also finance you Insurance Premium should you not have an auto insurance cover.

A: You are obliged to pay monthly installments following the repayment plan attached to your loan contract. The post-dated cheques issued will be banked monthly as part of your repayment.

A: The logbook will be jointly registered in your name and Real People Kenya Limited name. After full repayment of your contract, you will be contacted by the Real People Legal team to discharge the logbook to your name.

Responsible finance. Sustainable futures.

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