Best Price Guarantee on Car Logbook Loans

These Terms and Conditions govern your participation in the Best Price Guarantee Campaign for loan issuance offered by Mogo Auto Limited ("Mogo").

This Best Price Guarantee is available only if you meet the eligibility criteria outlined herein during the Promotional Period (2025-03-25 to 2025-06-25) and is subject to change or termination at any time at the sole discretion of Mogo.

ELIGIBILITY

1. The Best Price Guarantee Campaign is limited to eligible products offered by Mogo :
   1. Logbook loans secured by a car (excluding 2-wheelers and 3-wheelers); and
   2. Asset financing for purchase of a car (excluding 2-wheelers and 3-wheelers).
2. To be eligible for the Best Price Guarantee, the following conditions must be met:
   1. The Best Price Guarantee applies only to new loan applications with Mogo submitted through official channels during the Promotional Period. 
   2. You must not have an active loan with Mogo and your loan application must be pre-approved by Mogo.
   3. You must present an official loan offer or loan statement from a licensed Non-Deposit Taking Credit Provider regulated  by the Central Bank of Kenya ("Competitor").
   4. The Best Price Guarantee does not apply to loans that are subject to existing agreements or refinancing.

PRE-APPROVAL REQUIREMENTS

To be eligible for the Best Price Guarantee, you must first receive pre-approval for a loan from Mogo. This pre-approval is a mandatory step and subject to Mogo’s internal credit assessment criteria.

BEST PRICE GUARANTEE SCOPE AND CONDITIONS

1. If you receive a loan offer from a Competitor with more beneficial Loan Terms than those provided by Mogo, Mogo will adjust its offer to ensure you repay less. This adjustment is subject to verification and the conditions outlined below:
   1. The total repayment amount, including interest and other fees, is higher with the Competitor.
   2. The Disbursed loan amount, loan term and loan product must be identical between the Competitor's offer and Mogo’s offer.
   3. You have submitted the Competitor’s official loan offer according to these Terms and Conditions, before you signed the Loan Agreement with Mogo.
   4. The Competitor is a licensed Non-Deposit Taking Credit Provider according to Kenyan laws.
   5. The Competitor’s offer must be publicly available and not conditional upon factors such as special or promotional terms, loyalty programs, referral programs, exclusive membership discounts or any other such terms.
   6. The Loan Terms eligible for comparison include:
      1. Interest Rate: The Monthly / weekly percentage rate as provided by the Competitor.
      2. Loan Fees: (loan processing, loan application, any other recurring fees) or any other upfront fees included in the loan offer.
      3. Repayment Schedule: The repayment period, installment amounts, and frequency. 
   7. Any deviation from the agreed repayment schedule (including delays, missed payments, or modifications) will render the Best Price Guarantee invalid. You agree to pay the Mogo loan according to the initial loan schedule, without any delays or amendments.
   8. Mogo reserves the right to refuse to match the price if the Competitor's offer contains terms that are inconsistent with applicable legal or regulatory requirements. Mogo’s decision regarding the Best Price Guarantee offer is final and binding.

SUBMIT REQUEST FOR BEST PRICE GUARANTEE OFFER

To request the Best Price Guarantee, you must submit a copy of the loan offer from a qualified Competitor at the time of loan application or within seven (7) days of receiving the loan   offer, but within the Promotional Period. The submission must include:

1. A clear, legible copy of the official written loan offer from the Competitor, dated within the Promotional Period.  
2. Any other information Mogo may require to verify the Competitor’s offer.    

LIMITATION AND EXCLUSIONS

The Best Price Guarantee Offer does not apply to the following situations: 

1. Offers from private lenders, banks or entities not licensed as a Non-Deposit Taking Credit Provider by the Central Bank of Kenya.
2. Any loan application or Best Price Guarantee request made after the Promotional Period has ended.

VERIFICATION

1. By accepting the Terms and Conditions, you agree to cooperate with Mogo to provide all necessary documents and information to facilitate the Best Price Guarantee process. 
2. Mogo reserves the right to verify the Competitor’s loan terms and adjust its loan offer if new information or conditions are revealed during the verification process.
3. If fraudulent or inaccurate information is provided during the verification process, Mogo reserves the right to reject the Best Price Guarantee request and/or cancel any Loan agreement.

RIGHT TO MODIFY OR CANCEL

1. Mogo reserves the right to modify, suspend, or cancel the Best Price Guarantee Campaign at any time, without prior notice, for any reason, including but not limited to regulatory changes, market conditions, or business strategy . 

2. In the event of cancellation or modification, any outstanding  loan applications   or requests for Best Price Guarantee will be processed under the terms in effect at the time of the request.

LIMITATION OF LIABILITY

1. Mogo is not responsible for any costs, damages, expenses or loss arising from participation or use of the Best Price Guarantee, including any errors or discrepancies in the Competitor's offer. 
2. Mogo makes no warranties, express or implied, regarding the Best Price Guarantee, including but not limited to availability or suitability of the loan. Mogo’s liability is strictly limited to offering a price match or better terms, as applicable.

PRIVACY AND DATA PROTECTION

1. You are hereby informed that Mogo shall process your personal data, including any customer credit information from any licensed Credit Reference Bureau, financial institution or any other source for the purpose of assessing creditworthiness and credit risks, verifying the provided information, identifying you, providing services, assigning claims to third parties, if applicable, carrying out marketing and sales activities and other purposes as set in Mogo’s Privacy Policy at https://www.mogo.co.ke/privacy-policy. By participating in this Campaign, you confirm understanding and acceptance of Mogo's terms. 
2. For the above-mentioned purposes, Mogo may transfer and receive your data from third parties, databases and credit registers. 
3. Mogo will ensure that all personal data is processed in accordance with the Data Protection Act 2019 and all relevant regulations. You retain the right to exercise their data subject rights under this Act.  

OTHER TERMS  

1. The Best Price Guarantee may not be combined with any other promotional offers, discounts, or incentives unless explicitly stated otherwise.
2. You agree that no indulgence, assent, express or implied, to any breach by Mogo of any of these provisions shall constitute a waiver, abandonment, or novation of any other breach or of any of the rights of Mogo. 
3. You cannot transfer your rights and obligations under the Best Price Guarantee to a third person without Mogo's prior written consent. Mogo shall be permitted to transfer any of its rights and obligations herein to a third person or entity. 
4. No Party can bind the other except as described in these Terms and Conditions. 
5. The Terms and Conditions are the complete agreement between the Parties, replacing all previous discussions, promises, or agreements on the same topic, whether written or spoken. Each part of the Terms and Conditions stands on its own. If any part is found to be illegal or unenforceable, the rest will still be valid. 
6. The Terms and Conditions shall be governed and interpreted by the laws of Kenya. Both Parties agree that only Kenyan courts shall handle any disputes or issues between them. The Parties shall first attempt settling amicably before resorting to other legally available redress mechanisms. 
7. By proceeding with your loan application, you acknowledge and agree to these Best Price Guarantee Terms and Conditions.