Car Logbook Loans

Unlock the financial value of your car with UMF’s Car Logbook Loan. Whether you’re looking to cover urgent expenses or fund a business opportunity, our Car Logbook Loan gives you fast access to cash while keeping you on the road. Use your vehicle logbook as collateral, or let us finance your new car purchase with flexible repayment options and fast processing.

Eligibility

To qualify for a Car Logbook Loan from UMF, applicants must meet the following conditions:

Vehicle Ownership or Purchase Intent : You must own a car with a valid logbook or be seeking funding to purchase one.
Legal Business or Employment Activity : Your source of income—whether through business or employment—must be legal and active for at least six (6) months.
Ugandan Residency : Applicants must be residents of Uganda.

Requirements

To successfully apply for a Car Logbook Loan, the following documentation and conditions are required:

Client Identification (KYC) : Submit a valid National ID or passport, along with your full name, date of birth, contact information, and physical address.
Vehicle Logbook :A valid car logbook in your name is mandatory. For purchase-related loans, details of the vehicle and seller will be required.
Local Council Recommendation : Present a letter of endorsement from your area LC1 Chairperson confirming your residency and credibility in the community.
Collateral : Your vehicle acts as the primary security. Additional collateral (if necessary based on loan amount) may include:
- Land titles or sale agreements
- Chattels or other movable assets
Guarantors : Individual Applicants: Provide two guarantors with reliable income and traceable contact information.
Group Applicants (if any): Members co-guarantee each other and provide one external guarantor.