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Loan Buy-Offs

Loan Buy-Offs & Consolidation

Simplify Your Finances with a Single, Affordable Loan

Overwhelmed by Multiple Loans? Simplify Your Finances.

Juggling multiple loans from different lenders can be stressful and expensive. Our loan buy-off service allows you to consolidate your existing debts into one manageable loan with us. This can lead to a more favorable interest rate, a single monthly payment, and a clearer path to financial freedom.

Consolidate My Loans
A person reviewing financial documents

Benefits of Consolidating Your Loans

  • Consolidate multiple loans into one
  • Loan amounts from KSh 100,000 to KSh 5,000,000
  • Potentially lower interest rates from 2.5% to 7%
  • Simplified single monthly repayment
  • Flexible repayment terms from 9 to 36 months
  • No CRB checks required
  • Improve your credit profile
  • Free up your cash flow

What You'll Need

To initiate a loan buy-off, please prepare the following documents. This ensures a smooth and fast assessment process.

Application Requirements

  • Certified and verified current vehicle logbook (must be at least 6 months old)
  • Discharge/release letter from the other institution
  • Copy of joint transfer form (e.g., Together As One & Client)
  • Loan statements for the loan being bought off
  • Copy of your National ID & KRA PIN
  • Six months of bank or M-Pesa statements
  • Comprehensive Insurance Cover (for loans above KSh 500,000)

Vehicles We Do Not Finance

Please note that to ensure the quality and security of our assets, we are unable to provide financing for the following types of vehicles.

  • Vehicles with corroded, rusty, illegible, or welded chassis numbers.
  • Salvaged or rebuilt motor vehicles.
  • Vehicles currently held in garages for major repairs.
  • Fully electric vehicles (EVs).
  • Prime movers such as tractors, bulldozers, and other special categories (wheel loaders are considered).
  • Vehicles with a forced sale value below KSh 300,000.
  • Vehicles with outstanding import duty.
  • Buses with a seating capacity above 33.
  • Repossessed vehicles or those in an auctioneer's yard.
  • Vehicles with foreign, parastatal, or ex-GK number plates.
  • Vehicles below 1000cc may only qualify for up to 50% of their value.
  • Vehicles manufactured in China or India.
  • Rare or exotic models (e.g., Jaguars, Mobius, Teslas).
  • Vehicles with registration series KAA-KAZ (unless it is a V8 model).

Persons We Do Not Finance

For regulatory and risk assessment reasons, we are unable to extend our financial services to the following individuals.

  • Disciplined forces and their spouses (e.g., Military, Kenya Police) unless retired.
  • Persons living with disability.
  • Prominent national politicians (e.g., MPs, Senators, Governors) while active in power. MCAs can apply.
  • Prominent lawyers.
  • Citizens of East African Communities (i.e., Rwanda, Tanzania, Uganda, Burundi, Congo, Ethiopia, South Sudan, Somalia).
  • Known fraudsters or individuals with a history of fraud.
  • Forex traders.
  • Persons convicted in a court of law who are out on bond or bail.
  • People living with chronic illness that may impair repayment ability.
  • Persons aged 65 years and above with no permanent source of income.
  • Residents of remote areas (e.g., Northern Kenya, Mandera, Wajir, Dadaab, Lamu).

Loan Costs & Fees

Transparent Pricing

We believe in full transparency. Here is a breakdown of the standard fees associated with our loan products. Please note that some fees may vary.

  • Registration/Membership Fee

    One-time fee for new members.

    Ksh 1,400

  • Tracker Fee

    Mandatory for vehicle security and monitoring.

    Ksh 14,000

  • Logbook Search & Entry (NTSA)

    For verification and placing a charge on the logbook.

    Ksh 1,000

  • Logbook Transfer

    Varies based on vehicle CC and the loan product.

    Ksh 6,000 - 9,000

  • Processing Fee

    Covers legal (2%), admin (2%), credit life insurance (2%), and appraisal (1%).

    7% of Principal

  • Risk Fee

    Applicable if the vehicle is too old for comprehensive insurance cover.

    2% of Principal

Our 3-Step Buy-Off Process

1

Submit Your Loan Details

Provide us with the statements and details of your existing loan(s).

2

Receive Our Offer

We assess your situation and provide a competitive consolidation offer.

3

We Settle & Consolidate

We pay off your old lender(s) and you begin a single, simple repayment plan with us.

Frequently Asked Questions

Take Control of Your Finances

Ready to simplify your debt and improve your cash flow? Let's explore how a loan buy-off can work for you.

Inquire About a Loan Buy-Off

Contact Us

Have questions or want a quote? Fill out the form below and one of our experts will get back to you.