Loan Buyoff
Move your logbook loan
to Choice Bank.
Already repaying a logbook loan elsewhere? Transfer it to Choice Bank and enjoy better terms, a dedicated loan officer, and a faster, simpler experience.
Competitive Rates
Move to a better rate and reduce your monthly repayment burden.
Fast Processing
We assess and process buyoff applications with a TAT of 6–12 hours.
CBK Licensed
Transact with confidence under a fully regulated, CBK-licensed bank.
Dedicated Support
A loan officer guides you through the entire transfer process.
Eligibility
Do you qualify?
- Must have an active logbook loan with another MFI or bank
- Must have paid at least 50% of the principal without default
- Vehicle Year of Manufacture: 2004 and above
- Up to 50% financing depending on YOM, make and condition
- Loan amount of up to Ksh 5M gross
- Loan period of up to 18 months
Documents needed
What to bring.
- Original logbook (vehicle registration certificate)
- National ID or Passport
- KRA PIN Certificate
- Motor insurance certificate
- Latest 6 months Bank/M-Pesa statements
- Existing loan statement from current lender
- Letter of introduction from current lender (if required)
How it works
Simple transfer. No disruption.
We handle the settlement with your current lender so you don't have to. Most transfers are completed within 48 hours of approval.
01
Submit Your Application
Fill in the buyoff application form below with your vehicle and loan details.
02
Verification & Offer
We verify your existing loan balance and repayment history, then issue a formal offer.
03
Settlement & Transfer
We settle your outstanding balance with the current lender and transfer the logbook.
04
New Loan Begins
Your new Choice Bank loan kicks in with the agreed terms. Keep driving.
Apply Now
Start your buyoff application.
Fill in your details and a Choice Bank loan officer will contact you within 6–12 hours.