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FAQs

How do I determine my eligibility?

You are eligible for a logbook loan if you are at least 18 years of age, a resident of England or Wales, and a legal owner of a vehicle to be subjected for a loan. The vehicle in question must be free or have little financing left and must be fully insured.

What are the application 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

Your lender would also like to evaluate your car so you should bring it on your appointment.

How much can I borrow?

The amount you can borrow can be anything between £500 and £50,000, depending on your vehicle make and model. As a rule of thumb, you can borrow up to 50% of your vehicle’s worth. All loans are subject to affordability so your income will still be a huge factor in calculating the amount you can borrow.

Until when do I have to pay?

The term length can be anything between a few weeks to several months, depending on the amount you owe and how much you can repay in every installment. Obviously, the more you borrow, the longer you will have to pay.

Which types of vehicles are accepted?

Most of our lenders accept all types of vehicles, so whether you drive a car, van, truck, or even a motorcycle, you can still secure a logbook loan. Just complete our FREE online form to provide your vehicle make and model and we will help you find a suitable deal from among our hundreds of lenders.

What happens to my car?

With a logbook loan, you have the privilege to keep driving your vehicle even while under the loan. As long as your monthly repayments are up to date, you can use it freely even while the loan is in force. However, bear in mind that you will be held responsible for any damage it acquires while under the logbook loan, which is why it is required that you have full auto insurance.

What’s the catch?

Because it is a secured loan, there’s always the risk to lose your collateral, in this case, your vehicle. However, we can minimize this risk by helping you find the best, affordable deal. We can also give you expert advice on how much you can afford to borrow so you can make sure to meet your repayments.

How much will I have to pay you for using your service?

Using our service is FREE of charge and you will never be required to commit to us. After using our comparison service and getting your FREE quote, it is still your decision whether or not to proceed.

What will you do with my personal details?

We will only keep your personal information as a means to contact you and give you our best quote. We will by no means sell or share these details to third parties without your permission.

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