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How do I know if I’m eligible for a logbook loan?

Qualifying for a logbook loan is extremely easy. In order to be eligible for a logbook loan, you must be a resident in the United Kingdom, be over 18, and the legal owner of the vehicle that you are driving, which must be outside of financing. Your vehicle must be fully insured in order to be considered for logbook loan.

What paperwork do I have to provide in order to qualify?

You will need to provide the following documents along with your application. To ensure a quick processing application, make sure you have them ready.

  • Your vehicle’s logbook or V5 document
  • Your vehicle’s MOT certificate
  • Your vehicle’s insurance details
  • Proof of income (pay slips or bank statements if you are self-employed)
  • Proof of address (utility bills, tenancy agreement, bank statements)
  • Proof of identity (ID with photo)

What vehicles do you accept?

We aim to present you with a lending partner that would best suit your requirements regardless of the type of vehicle you are driving. Whether you have a motorcycle, a car, a van or a truck, as long as you state it clearly in our online form, we can match you with the most appropriate lender for your needs. With hundreds of logbook loan lenders included in our database, we are sure to help you find one that can accommodate your vehicle type.

How much can I borrow?

Usually, you can borrow between £500 and £50000, depending on your vehicle’s worth. Most lenders can let you borrow up to 50% of your car’s value. Still, all loan applications are subject to affordability, and your income will still be considered to determine the amount you can borrow.

For how long will I have to make the repayments?

The frequency and total time of your loan repayments are subject to affordability and the amount you intend to borrow. Usually, the larger the amount you borrow, the longer it will take you to pay off the loan in full, even though you can adjust and shorten the term if you can think that you it off quicker. Most of our lenders offer no early settlement fees, meaning that in most cases you can pay off the full loan amount once you can afford it, without worrying about penalties.

What will happen to my vehicle?

A logbook loan does not impose any restrictions on your vehicle. You can continue driving your car for the whole duration of the loan, as long as your payments are up to date. Any repairs or damages incurred to the vehicle while the loan is in effect are will be supported by you, which is why you are required to have your car fully insured for your loan application to be granted.

Does my personal information remain private?

All the information submitted to us will only serve as a means to find you and put you in contact matching loan lender, and to call you back to complete the application process. We will not disclose your information to third parties without your permission.