Logbook Finance

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Details

Our Logbook Finance loan is a credit facility that aims at issuing cash against the logbook of our customer’s motor vehicle. This solution is only available to individuals with a logbook for a motor vehicle registered in their names. What makes our Logbook Finance product special, is the speed with which we process the loan i.e. 24 hours maximum plus we let the customer keep and use the motor vehicle.

Who Qualifies?

Anyone with a steady and evident source of income, and has a car with its logbook registered in his or her name.

Eligibility

  • 2 passport photos
  • Personal bank statements for the last 6 months.
  • Pay slips for the last 3 months if salaried.
  • A copy of your employment contract or employment ID. Original Log book in the your names (Customer)
  • Execution of chattel mortgage forms.
  • Latest utility bill in Customer’s names as proof of residence. Cheque leaves covering the loan term.
  • National I.D / Passport / Driving permit
  • We will carry out the following to ascertain and secure the value and ownership of the motor vehicle; Search at URA for ownership, encumbrances and tax liabilities Valuation of the vehicle using professionals
  • Place a caveat on the Log book in favor of Platinum Credit through URA.
  • Comprehensive insurance of the vehicle covering the loan term
Loan Amount
UGX 3M – 50M
Term
3 – 18 Months

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    NOTE: Platinum Credit accepts early settlements for all loans.