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Logbook Loans

Logbook loans allow you to borrow money using your car as collateral. These loans are often used by individuals who need fast access to funds and own a vehicle.

How much would you like to borrow?
Representative 79.9% APR Rates from 12.9% APR to 1721% APR. The minimum Loan Term is 1 month. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Repayment of 17 Months at £87.22 and final repayment of £87.70 The total amount repayable is £1570.44. Interest amounts to £570.44, an annual interest rate of 59.97%.

What Are Logbook Loans?

With a logbook loan, the lender holds temporary ownership of your vehicle until the loan is repaid. You can still use your car during the loan term, but if repayments are missed, the lender has the right to repossess it. Loan amounts typically range from £500 to £50,000, depending on the value of your vehicle.

Benefits of Logbook Loans

Access to Larger Loan Amounts

Logbook loans allow borrowing based on the value of your vehicle, often offering more significant amounts than unsecured loans.

Fast Processing

Funds are often available quickly, making logbook loans suitable for urgent financial needs.

No Credit Check Required

Some lenders offer logbook loans without performing a formal credit check, as the loan is secured against your car.

Things to Consider

Risk of Repossession

If you fail to repay the loan, the lender can repossess your vehicle.

High Interest Rates

Logbook loans often come with higher interest rates compared to traditional secured loans.

Frequently Asked Questions

Do I need to own my car outright for a logbook loan?

Yes, you must fully own the vehicle to use it as collateral.

How much can I borrow with a logbook loan?

Loan amounts are based on your car’s value and typically range from £500 to £50,000.

Can I still use my car during the loan term?

Yes, you can continue using your car as long as you meet repayment terms.

Are logbook loans regulated in the UK?

Yes, reputable logbook loan providers must be authorised by the FCA.