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advertisementMogo Credit Logbook Loan Details

Mogo Credit Logbook Loan Details

Logbook Loan
Easy Apply
Ksh100k – 2.5M (Up-to 75% of vehicle)
6 months – 5 years
Interest Rate
2.5% per month
Total Cost Including Institution’s Other Fees
4.28% – 6.83% per month

Loan Type

Logbook Loan

Total Cost Breakdown (Loan Fees):

  • Monthly Interest: 2.5%
  • Processing Fee: 7%
  • Application fee: 10%
  • Logbook Discharge: Free
  • Loan monitoring fee: $20

Boda Boda loan

image source:mogo

Loan Structure

  • Type: Secured
  • Interest structure: Reducing Balance

Loan  Details

  • % Financed: Up-to 75% of FSV
  • Car Age limit: No limit
  • Minimum tenure: 6 Months
  • Max tenure: 60 Months
  • Minimum Amount: ksh100,000
  • Max amount: ksh2,500,000
  • Repayment Frequency: Monthly
  • Early Repayment: Allowed
  • Late fees: 1% daily (of installment balance)


  • Original logbook
  • Original ID and copy
  • KRA pin
  • 6 months bank statement
  • 6 months M-pesa statement
  • Comprehensive insurance

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh100,000
  • Example Loan Tenure: 12 months
  • Representative APR: 30%
  • Processing & Application Fees: ksh17,000
  • Monthly Loan Repayments: ksh14,848
  • Total Loan Repayment Amount: ksh174,000

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  • Pay no fees unless you receive the loan: unlike some Logbook Loans, you do not need to pay the valuation fee, tracker or any other fees prior to the loan being approved and disbursed. These fees are added to the loan amount and paid back over the loan duration.
  • Receive a high loan amount against the value of your car:  Mogo will offer you up to 75% of your car’s distressed sale value as a loan. This is higher than the industry average of 60%.
  • Good for people with bad credit: Mogo does not check your CRB status when you apply for the loan.


  • High additional fees: This loan comes with a 7% processing fee and 10% application fee which are both added onto to the total repayment amount and paid back over the duration of the loan.

Mogo Auto logbook loans are designed for individuals who own vehicles. Mogo offers logbook loans that cover up to 80% of your car’s value regardless of age, brand, or model. As of May 2022, Mogo has branches in Nairobi, Mombasa, Nakuru, Eldoret, and Kisumu.

who is eligible for mogo auto logbook loan?

To qualify for Mogo Auto logbook  loan, you need to have the following:

  • A logbook of your vehicle in your name
  • National Identification Card or Passport
  • Proof of income – 6 months bank statements
  • Official payslip (if employed)
  • MPESA Statements
  • Be 23-70 years old
  • Provide a driver’s licence
  • Comprehensive insurance certificate (if your vehicle is not comprehensively insured, they will assist with getting a cover.)

mogo auto logbook loan security

  • Your own vehicle

Note that Mogo Auto only accepts private and commercial vehicles as collateral. They do not accept PSV

other fees

Mogo Auto logbook loans also attract a 10% application fee which is added to the loan amount and not deducted from the disbursed loan.

total upfront fees

Mogo Auto logbook loans have no upfront fees, but the fees for valuation, tracker, and NTSA are added to the loan amount.

mogo auto logbook loan interest structure

The loan interest structure for Mogo Auto logbook loan is reducing balance, which means that the interest to be paid is revised every month on the outstanding balance, hence the interest payable is also reduced.

estimated total minimum and maximum monthly cost of mogo auto logbook loan

The total monthly cost for the loan is achieved by adding the processing fee, application fee, and any other fee, dividing that by the minimum or maximum duration of the loan then adding the result to the monthly percentage interest of the loan.

For Mogo Auto logbook loan, the minimum total monthly cost for the loan is 2.78% and the maximum total monthly cost for the loan is 5.33%

how to apply for your first mogo auto logbook loan

You can apply for Mogo Auto logbook loan through one of the following ways:

  • Online through Money254 Easy Apply – applying through Money254 will make you eligible for our ongoing promotional reward.
  • Online through their website.
  • Or you can also submit your application by visiting your nearest branch with the above-mentioned requirements and filling out the necessary forms

how to make mogo auto logbook loan repayments

Once approved, the loan will be disbursed into your bank account.

The loan is repaid monthly through Mpesa Pay Bill.

Mogo Auto Late Fees and Penalties

Mogo Auto charges a late fee of 1% of the monthly instalment amount.


Tel; 0768469112

Email; info@mogo.co.ke


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