What do I need to qualify for a logbook loan?
In order to qualify successfully for a logbook loan, you need to be a resident of England or Wales, must be at least 18 years of age, and must be the legal owner of the vehicle you’re looking to apply a logbook loan against.
What are the logbook loan requirements?
- Your vehicle’s V5 document (logbook)
- Your vehicle’s MOT certificate
- Proof of income (pay stubs, bank statements if self-employed)
- Proof of residence (utility bills with address)
- Proof of identity (government-issued ID with photo)
- Your vehicle’s insurance details
How much am I allowed to borrow?
You can borrow between £500 and £50,000 depending on your car make and model. Typically, you may be allowed to borrow up to 50% of your car’s value.
How long can I repay the loan back?
Usually logbook loan terms take about few weeks to months, depending on how much you intend to borrow and how much you can afford to put in your repayments. However, bear in mind that the longer it takes to pay off the loan, the more you would have to pay overall.
When do I need to make the repayments?
You can choose to pay between weekly and monthly repayments, depending on which is more convenient for you.
What if my car is under financing?
Our lenders prefer that the vehicle you will subject under a logbook loan is free of any financing, but they may be able to give considerations if there is very little financing left.
What vehicles do you accept?
Most of our lenders welcome vehicles other than a car, such as vans, trucks, motorcycles, and more. If you are unsure, just fill in our form and we can guarantee that we can find you a suitable lender for your specific needs.
Can I still drive my vehicle?
Of course! The best thing about a logbook loan is that you can keep using your vehicle even while the loan is still in force. All you need is to make sure that your payments are always on time.
How much does your service cost?
There is absolutely no cost or obligation to take advantage of our matching service. We provide quotes and professional advice for FREE, and we will never require you to commit to our service after filling up our form.
Are there any risks?
Any type of loan, especially a secured one has risks involved, and logbook loan is no exception. There will always be the risk to lose your collateral, in this case your car, but we are here to help make sure that you will find an affordable deal and meet your repayments to avoid having to lose your vehicle.
Will you share my personal information?
We value your security and privacy above all, so you can rest assured that all the information you provide us with will only be used to contact you for FREE advice. We will never share or sell your personal details to third parties without your permission.