FAQs

What do I need in order to apply?

All you need to apply for a Logbook Loan is to be a UK resident and have a vehicle registered under your name.

I have been unemployed for over a year, can I apply?

Yes, you can apply. Your employment status does not matter. As long as you have a vehicle registered under your name and you are UK resident you can apply and get a Logbook Loan.

How long does it take to get the money?

We will arrange an appointment where you can meet the lender. If you like the terms that are offered to you, you can finalize the deal, and get the money within 24 hours.

I want to go travel. Can I use the money for that purpose?

Yes you can. You can use the money for anything you want including traveling. There are no restrictions. We stay behind your decision 100%.

What happens to my vehicle?

Your car becomes security for the loan you get. You can keep the car through the duration of the loan as long as you pay the amount on time.

What if I damage my vehicle during the loan period?

Since you are responsible for your vehicle, we prefer if it is insured. That way none of us will encounter any problems if something happens to your vehicle.

Why should I apply?

There are three reasons why people apply. The first and most common reason why people apply is to buy something they have wanted for a long time but they can’t afford it. The second one is to solve an emergency problem. And the last one is because it is easy to get the loan and it has no credit checks. If you find yourself in these three groups of people, then you are on the right place for a Logbook Loan.

How much money can I borrow?

You can borrow an amount up to half of your vehicle’s worth.

My car is very expensive but I don’t want a huge loan. Can I borrow less?

Yes. You can choose any amount you need up to half of your vehicle’s worth.

I have been rejected few times for a loan because of my bad credit rating. Can I apply?

Yes you can. As long as you are over 18 years old, you are UK resident and you have a car registered under your name, you can apply. Your credit rating doesn’t matter for the Logbook loans our lenders offer.

On what depends the length of the term?

It depends on the amount you borrowed, the interest rate and your ability to make payments on time. The higher repayments you can afford, the lower interest rate you can get.

Can I borrow money if I don’t have a vehicle registered under my name?

Unfortunately no. The vehicles is what secures your loan so it is something you must have.

Which documents do I need?

You need to bring Vehicle V5 document, MOT certificate, Identification proof and billing address on the appointment we will set for you with the lender.