FAQS

Who can avail a logbook loan?

Anyone of legal age and a UK resident with a vehicle free of financing is eligible to avail for a logbook loan.

What do I need to apply for a logbook loan?

To apply for a logbook loan, you need a vehicle for collateral. In addition, you’ll be required to prepare documents, which include your vehicle’s logbook document, MOT certificate, insurance details, proof of identification, proof of billing address,

Do I need to be employed?

You need to be employed to apply for a logbook loan. But we can also be flexible with our terms. If you are self-employed and you have proof of income, we’ll gladly consider your application.

What kind of cars do you accept for collateral?

We accept all types of cars provided that your vehicle is free of any financing. Your vehicle must not be more than ten years old to be acceptable.

What is the maximum loan amount I can borrow?

Depending on the trade value of your vehicle, you can borrow as much as 50% of said value. Most lenders offer loan amounts from £500 up to £25,000. Some lenders can offer loans as much as £50,000.

Do you have hidden fees?

All fees and charges related to your logbook loan are detailed in the small print. Or you can give our customers service department a call to know more about hidden fees.

Do you run credit checks?

We don’t run credit checks. Because logbook loans are especially offered to people with bad credit, there is no more credit checks. No matter how bad your credit rating may be, you can be rest assured that your loan application’s approval won’t be affected.

Can I end the loan early?

If your repayment term is 36 months and you want to end it early, you can do so but there may be early repayment fees to pay. To know more about such fees, call customer service.

What happens if I can no longer afford the repayments?

In the event that you can no longer afford the monthly repayments, we highly recommend that you get in touch with us right away. We may arrange a new repayment plan if applicable. Failure to contact us after we’ve sent a debt collector can lead to vehicle repossession. As we’ve agreed on the debt agreement you’ve signed, you used your vehicle as collateral. Failure to repay the loan means we can repossess your vehicle to cover for your outstanding loan balance.