Bailing out friends, colleagues and siblings

A friend of mine reached out for some cash. The saga behind this is that he took out a loan using his car as a collateral. The loan guys have been on his case and he says he cannot raise these funds and he’s at the verge of losing it. The loan amount is ~ KES 100 K. He is requesting me to help him clear the loan and change the car logbook to bear my name. I am not confident about this and I am also not ready to consider such am amount of cash as a sunk cost. So, I am reaching out to yours truly to share their two cents on this.

What kind of car? So you clear the loan and the logbook reads your name or both your names?

I always tell people , if you are having second thoughts don’t do it… Your intuitions are always right.

After seeing your legs, I don’t have any second thoughts.
Shall we do it?

Saidia jamaa…although i know such desperate people once are bailed out hawakutambui kabsa and this 100k might make you lose a friend

dont do it. Make up some excuse and let it pass. Watch from the side lines. Dont take panadol for some elses head ache ever.

Your friend has tressed the loan guys to the verge of them taking his car…pay that loan and it will be your turn. Yote tisa, tenda wema nenda zako.

never ever lend more than u are willing to lose. If u can afford a 100k loss, go ahead and do it.

Kama nina uwezo I will bail them out bila kufikiria.

The days of exchanging log books kienyeji are long gone.
Nowadays to transfer a car to another person you must have a TIMs account and pay the relevant taxes on the car value.
Are you ready for that?

Both names I’d say - would that prevent him from selling it? Or rather how does co-ownership work from a TIMS perspective? Under whose name will the care be, both parties?

What taxes, I am a car owner and I am not sure I paid any taxes during log book transfer. Or do you mean the 5k or so amount that I paid?

If you have it, pay. Na uchukue hiyo car mpaka akulipe back.

Make a written agreement. If he does not pay within a particular period, auctioneer aingilie kati

I am inclined to say no after years of losing magunias of cash to relas and friends over the years. Why does he need the car? can he not commute?

Let him agree ikuwe transferred to your name only then muandikishane in case gari ikuwe involved in illegal business

Its all about not loosing the car at a throw away price

He uses it for his hustle


If you have 100K, loan it to him as a friend roho Safi.
Friendship and motor vehicles don’t mix. You can never guarantee what will happen to the car in future and it might end up costing you money and friendship.