Mogo Local Car Finance: Product Details & How to Apply

Rates available from as of 1st April 2021
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Local Car Finance
Easy Apply
Up to 75% of car's Forced Sale value
6 months - 5 years
Interest Rate
2.1% - 2.6% per month
Total Cost Including Institution's Other Fees
2.8% - 5.4% per month
Typically approved within 6 hours
visit website
Easy Apply

Loan Type

Car Loan

Loan Cost

  • Minimum Monthly Interest : 2.1%
  • Maximum Monthly interest: 2.6%
  • Processing Fee: 7%
  • Application fee: 10%
  • Monitoring fee:$20 monthly
  • Late fees: 1% of monthly installment

Representative Example of Loan Costs:

  • Example Loan Amount: Ksh500,000
  • Example Loan Tenure: 12 months
  • Representative APR: 30%
  • Processing & Application Fees: ksh85,000
  • Other Fees: ksh27,000
  • Total Loan Repayment Amount: ksh760,848
  • Monthly Loan Repayments: ksh65,515

Loan structure

  • Type: Secured
  • Interest structure: Reducing balance

Loan  Details

  • Car Age: No restriction
  • % Financed: Up-to 75% of Market Value
  • Minimum tenure: 6 Months
  • Max tenure: 60 Months
  • Min Amount: ksh100,000
  • Max amount: ksh2,500,000
  • Repayment Frequency: Monthly


  • KRA Pin
  • ID
  • 6 months Mpesa statements
  • 6 Months Bank statements
  • 3 months payslips if employed
  • Valid Driving License
  • Pro-forma Invoice/Sale agreement
  • Original Logbook

Money254 Review


  • Will Finance Up to 75% of Forced Sale value of the car.
  • Can finance from a dealership or individual
  • Long repayment period of 60 months.


  • CRB Status checked

See other Auto Loans available in Kenya on Money254

Whether you’re looking to keep business moving, support your hustle, or get your dream car, we are here to help you find the best car loan for your circumstances today.

See all Auto Loans on Money254

Mogo Auto Car Loan is financing given to individuals who wish to purchase a personal/ private use vehicle from a car dealership or an individual. They offer car financing of up to 80% of the car’s market value.

Who is Eligible for Mogo Auto Car Loan?

Mogo Auto Car Loan Security/Collateral 

Mogo Auto Car Loan Limits and Interest Rates

‍Total Upfront Fees

Mogo Auto Car Loan Interest Structure

Estimated Total Minimum and Maximum Monthly Cost of Mogo Auto Car Loan

How to Apply for Your First Mogo Auto Car Loan

How to Make Mogo Auto Car Loan Repayments


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