Does the lender own my car once I take a logbook loan?

Effectively yes, or at least to an extent. When taking such a loan, your logbook is going to be used as security, and this symbolically means that they own your vehicle. However, you’re free to move around with the vehicle as you wish. We won’t take possession of it unless you fail to pay back the loan.

How do I make my payments?

How you choose to pay your fees is up to you. You may decide on using a cheque or cash at any of our branches. You could also have the amount collected weekly or monthly from your bank account.

What if I urgently need the cash? How long does it take to get the loan?

We’ve got a swift application process and we process the loan even faster. You can apply online and so long as you’ve got the relevant documents and agree to the terms and conditions, you can even have the cash within 3 hours. We highly advice going through the documents before signing the dotted line.

What is required before taking a logbook loan?

You’d be glad to know that our requirements are pretty basic. Simply prove that you are a UK citizen and have a source of income that you’ll use to repay the loan. You also have to be a registered owner of a vehicle.

The documents required are the MOT certificate proof of ID and proof of income. If that’s all in check, then you’ve got yourself a deal.

What’s the rate when I need a loan?

The interest rates are dependent on how much you want to borrow and the value of your vehicle. Generally, the lower the loan in relation to your vehicle’s value, the lower the interest rates offered.

How long do the loans last?

Again, this is solely up to you. Loan terms vary depending on your specific scenario and how much you borrow. Typically, these loans last for one to three years depending on your commitment and how much you choose to pay each week or month. We also don’t charge any payments made earlier than the agreed period.