The Auto Express Loan is a fast and flexible financing solution offered by Greenbud Microfinance Limited, designed for individuals and business owners who own a motor vehicle and require quick access to funds. This loan is secured using a motor vehicle as collateral, enabling clients to unlock value from their asset while continuing to use it.
Who Can Apply (Eligibility)
This loan is available to:
Salaried employees
Business owners and entrepreneurs
Individuals with legally owned motor vehicles
Applicants must be the legal owner of the vehicle or jointly registered owner, and must meet Greenbud’s credit and assessment criteria.
Loan Amount
Loan amounts are determined based on the assessed value of the motor vehicle
Financing is provided as a percentage of the vehicle’s fair value after valuation
Purpose of the Loan
The Auto Express Loan can be used for various purposes, including:
Business working capital
Business expansion
Emergency financial needs
Personal or developmental expenses
Settlement of existing financial obligations
Loan Tenure
Repayment period ranges from 3 to 18 months, depending on loan size and assessment
Repayment Method
Monthly installments
Repayment is made through agreed channels, including bank transfer or mobile payment options
Collateral Requirements
The loan is secured by:
A motor vehicle in good working condition
Vehicle must have valid registration and ownership documents
Comprehensive motor vehicle insurance is mandatory
Installation of a vehicle tracking system (Car Track) during the loan period
Fees & Charges
The following fees apply:
Loan arrangement and processing fees
Vehicle valuation fee
Motor vehicle insurance charges (if applicable)
Vehicle tracking installation and monitoring fees
Ownership search and verification charges
All fees are clearly communicated before loan disbursement to ensure transparency.
Required Application Documents
Applicants must submit:
Fully completed loan application form
Valid National ID
Passport-size photographs of the applicant
Motor vehicle ownership documents (registration card)
Valid motor vehicle insurance documents
Bank statements or proof of income (where applicable)
Clear pictures of the vehicle used as collateral
Key Terms & Conditions (Summary)
The vehicle remains under Greenbud’s security interest until the loan is fully repaid
The borrower is responsible for maintaining the vehicle in good condition
Insurance must remain active throughout the loan period
Early repayment is allowed, subject to applicable terms
In case of default, Greenbud reserves the right to recover the outstanding balance in line with applicable laws and regulations
Why Choosean Auto Express Loan from Greenbud?
Fast loan processing and approval
Continued use of your vehicle during the loan period
Transparent terms with no hidden charges
Flexible repayment options
Trusted microfinance partner regulated in Tanzania