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Second Hand Motorbike Loan in Kenya

By Oluchukwu Ikemefuna

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Second-hand motorbike loans, also known as used motorbike financing, are financial products designed to assist individuals in purchasing pre-owned motorcycles. 

These loans are offered by various financial institutions, including banks, credit unions, and microfinance institutions. 

The primary objective of these loans is to enable individuals who may not have the necessary funds upfront to afford a motorbike to acquire one through affordable repayment plans.

In this article, we’ll be reviewing all you need to know about second-hand motorbike bike loan in Kenya.

What is Watu?

Watu is a company in Africa that helps people who need money to buy bikes or tricycles. 

They want to make sure everyone, especially young people, can get around easily and have access to money when they need it. 

By lending money for bikes, they’ve helped lots of people in seven different countries. They’re also teaching people about money and how to use digital payments safely.

Now, they’re starting to help even more by financing electric bikes to make Africa cleaner and healthier.

Read also: Best Phone Loan Apps in Kenya

What is Watu credit?

Watu Credit is a financial services company that provides micro-loans and other financial products to individuals, particularly in Kenya.

They focus on offering accessible financial solutions to underserved communities, including small business owners and individuals without access to traditional banking services.

Watu Credit Limited is a non-bank finance company based in Mombasa, Kenya. It provides unsecured lending primarily through mobile services, focusing on short- and medium-term loan products tailored to the needs of its target clients. 

It offers asset financing for motorbikes and three-wheelers, with branches across various locations in Kenya.

 It prides itself on excellent client service, using modern technologies for cashless transactions and 24-hour account access.

Read also: Helb Portal: How to Check your Helb Loan Status

How does Watu Credit work?

Watu is a top company in Kenya that helps people buy boda bodas and tuk tuks. They give loans to many people who want to start their own businesses every day!

With just a small initial payment and easy weekly payment plans, you can own a boda boda or tuk tuk in as little as 2 hours through the second-hand motorbike loan.

You can pay back the loan over a period of up to 24 months, and they even offer GPS tracking for your vehicle.

Watu also partners with over 400 trusted dealers all over Kenya, so you can choose from a wide range of boda boda or tuk tuk models from brands like Ampersand, ARC Ride, Bajaj, Haojin, Honda, Jincheng, Lifan, Piaggio, Skygo, and TVS.

How to get Second-hand Motorbike loans in Kenya (Boda Boda loans)

To get a second -hand motorbike loan in kenya(boda boda), you have to meet tge following criteria:

  • M-Pesa Statement:

You’ll need to show your transaction history on M-Pesa for the past six months. This helps the lender understand your financial activity and stability.

  • National ID:

You must have a valid National Identification card, which proves your identity and citizenship.

  • KRA Pin:

Your Kenya Revenue Authority (KRA) Personal Identification Number (PIN) is required. This helps verify your tax status and financial background.

  • Age Requirement:

You must be between 20 to 65 years old to qualify for the loan.

  • Guarantor:

You need someone who can vouch for you and guarantee your loan. This person agrees to take responsibility for the loan if you are unable to repay it.

  • Down Payment:

You’ll have to make a down payment, starting from KES 15,000. This upfront payment reduces the amount you need to borrow and shows your commitment to the loan agreement.

Read Also: Berry Loan App: How to get a Berry Loan

How to start driving your own second hand motorbike in Kenya

If you’re thinking about hitting the road on your own Boda Boda, here’s a simple guide to get you started. 

1.Pick a Boda Boda:

Choose the type of motorbike you want from MOGO Boda Branches. They have different models like Bajaj Boxer, TVS, Honda, Captain, Haojin, Haojue, Kifaru, Tiger, and more.

2. Visit a MOGO Boda Branch:

Find the closest MOGO Boda Branch and go there. Decide on the conditions that suit you best. You can choose how long you want the loan for, between 52 to 104 weeks, and how much you can pay in instalments. Give them your contact details.

3. Sign the contract:

They’ll do a quick check to confirm your identity. Then, sign the contract and put down a payment of at least KES 15,000. Your Boda Boda will be good to go in under 2 hours.

4. Ride your Second Hand Boda Boda:

You’ll pay back the loan bit by bit every week and enjoy riding your second hand Boda Boda. Once you’ve paid off the loan, the motorbike gotten from the second hand motorbike loan in Kenya becomes yours legally.

Read also: M-shwari Soft Loan Requirements

Where can I find a MOGO Second-hand Motorbike loans (Boda Boda) warehouse?

MOGO stands out as a premier vehicle financing entity in Kenya, offering accessible solutions for individuals seeking to own their own means of transportation. Here’s an extensive rundown of where you can find the nearest used Boda warehouse:


Head to Lang’ata car yard, conveniently situated along Langata Road, just opposite Uhuru Gardens. This location offers easy access for those in Nairobi looking to explore their options in acquiring a Boda Boda.

2.Nairobi (Ruiru bypass): 

Another option within Nairobi is the Ruiru bypass warehouse, located in Membley near Taifa Mabati. This strategic position ensures accessibility for residents in and around the Ruiru area.

3. Nakuru: 

For those residing in Nakuru, the warehouse is situated at Nakuru Municipality Block 3/91/3/92, along the Nakuru-Kisumu Road. This location caters to the transportation needs of individuals within Nakuru and its environs.

4. Kisumu: 

In Kisumu, the warehouse is located in the Industrial Area along Sabuni Road Block LR 3/117, adjacent to Panda Mabati. This spot serves as a convenient hub for those in Kisumu seeking Boda Boda options.

5. Mombasa

Located opposite Matriz Moves (Ugandan Property) along Changamwe-Pamba Road, the Mombasa warehouse is easily accessible for residents in Mombasa and neighbouring areas.

6. Eldoret

In Eldoret, head over to Oloo Street within the Kenya Industrial Estates Block 10/78. This location provides a central point for residents of Eldoret to explore Boda Boda options.

7. Malindi

Finally, in Malindi, the warehouse is situated along the Malindi-Mombasa Highway at Plot No. 4248, offering convenience for residents in Malindi and along the coastal region.

These strategically located warehouses ensure accessibility and convenience for individuals across different regions of Kenya, facilitating easier access to Boda Boda vehicles for personal or business use.

Read also: Boxer Motorcycle Loan: Find Out How to Get It

How to check your loan balance for a second hand motorbike loan in Kenya

To check your loan balance for a second-hand motorbike loan in Kenya, you can either use the USSD code *695# or call Watu Credit at 0768 469 112.

  • Using USSD Code *695#:

   – Dial *695# from your mobile phone.

   – Follow the on-screen prompts to navigate through the menu options.

   – Look for the option related to checking your loan balance or accessing loan information.

   – Select the appropriate option and follow any additional instructions provided to view your loan balance for your second-hand motorbike loan.

  • Calling Watu Credit at 0768 469 112:

   – Dial the phone number provided, 0768 469 112, from your mobile phone.

   – Wait for the call to be answered by a representative from Watu Credit.

   – Inform the representative that you would like to check your loan balance for your second-hand motorbike loan.

   – Provide any necessary identification or account details as requested by the representative.

   – The representative will then assist you in retrieving the information regarding your loan balance.

Both of these methods allow you to conveniently check your loan balance for your second-hand motorbike loan with Watu Credit in Kenya.

Read also: iPesa – Credit Loan to M-pesa: How to Access It

Tips for Obtaining a Second Hand Motorbike Loan.

1.Improve Credit Score: 

Maintaining a good credit score can increase the chances of loan approval and secure favorable interest rates. Borrowers can improve their creditworthiness by paying bills on time, reducing outstanding debt, and correcting any errors on their credit report.

2. Save for a Down Payment:

Saving for a down payment can reduce the loan amount and lower monthly installments, making the loan more affordable in the long run. A larger down payment may also improve the terms of the loan.

3. Shop Around:

 It is advisable to explore multiple lenders and loan options to find the most competitive rates and terms. Comparing offers from different financial institutions can help borrowers make informed decisions and save money.

4.Negotiate Terms: 

Borrowers should not hesitate to negotiate with lenders to secure favorable terms, including interest rates, repayment duration, and fees. Being proactive and assertive can lead to better loan outcomes.

5. Read the Fine Print: 

Before signing any loan agreement, borrowers should carefully read and understand all terms and conditions, including the fine print. Seeking clarification on any unclear or ambiguous clauses is essential to avoid misunderstandings later on.

Read also:Meta’s President of Global Affairs Meets with Young Nigerian Innovators

Challenges and Consideration when getting a Second hand Motorbike Loan in Kenya

1.Interest rates for second-hand motorbike loans may be higher than those for new vehicle loans due to factors such as depreciation and perceived higher risk associated with used vehicles.

 2. Purchasing a second-hand motorbike carries inherent risks related to the condition and reliability of the vehicle, necessitating thorough inspections and consideration of mechanical inspection reports before finalizing the purchase.

3. Borrowers should realistically assess their repayment capacity, taking into account income, expenses, and other financial obligations to avoid defaulting on loan payments, which can lead to severe consequences such as damage to credit scores and potential repossession of the motorbike.

4.Careful review of the terms and conditions of the loan agreement, including fees, charges, and penalties associated with late payments or early repayment, is essential to avoid financial pitfalls and make informed decisions.

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What are the eligibility criteria/requirement for a Boda Boda loan?

6 months M-PESA statement, National ID or passport, Person Aged 20 – 50 years, the initial deposit of KES 15,000.

What Boda Boda models are available for sale?

Bajaj Boxer, TVS, Honda, Captain, Haojin, Sonlink, Yamaha, Ranger, Haojue, Kifaru, Tiger & many others. Both new and used Boda Bodas are available at MOGO.

What is the second hand motorbike loan (Boda Boda loan) duration?

The minimum duration is 52 weeks. The maximum duration is 104 weeks (2 years)

In case my Boda Boda is involved in an accident or stollen, what should I do?

Immediately call us on 0768 469 112 and report to the nearest police station. Then share the police abstract and OB number with MOGO.

What happens if my Boda Boda is repossessed?

In most cases you can still get your Boda Boda back by clearing the arrears. After confirmation that your payment is received, you can get a release letter from MOGO staff and proceed to the yard for Boda Boda release.

How should I check my loan balance?

Please use USSD *695# or call us 0768 469 112.


Second-hand motorbike loans offer a viable financing solution for individuals in Kenya looking to purchase pre-owned motorcycles.

By understanding the loan process, benefits, challenges, and tips for obtaining one, prospective borrowers can make informed decisions and embark on their journey towards motorbike ownership with confidence



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Blessing Ukibe
Blessing Ukibe

Medical Student at Nnamdi Azikiwe University|Tech content expert at Silicon Africa Technology|Lover of fun books and fun fun ☺️

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