Log Book Loans

Quick Log Book Loans

If you’ve been refused a loan elsewhere or you have bad credit then there’s good news, you could well get a Log Book Loan as it’s your car  that needs to qualify NOT you!

You can borrow up to £50,000! It’s a quick application and the loan can be in your bank account within 24hrs.

What Is A Log Book Loan?

This is a loan secured against the value of your car through your vehicle log book. Most standard car makes qualify to be considered for a log book loan.

The only stipulation is that they have a log book or V5C document. You don’t need to hand over your vehicle to receive the loan, you can continue to use it for the duration of the arrangement, your log book is retained by the lender as security.

This makes the borrowing very quick and easy and a credit check is not usually involved.

Why Would You Need A Log Book Loan?

They are a quick and easy way to secure a loan. Generally they are an option for those that have been refused a loan elsewhere be it with their bank or an independent lender or that have a bad credit history.

Lending can usually be provided within 24 hours of your application and your loan transferred directly in to your bank account. A log book loan can provide a larger loan amount than other ‘same day’ loan types such as payday loans.

These loans can typically only offer up to £1,000 whereas a log book loan can provide funds almost up to the full value of your vehicle.

Payday Loan Or Log Book Loan?

The principle is much the same behind both of these loan types, same day cash for people refused elsewhere or with a bad credit history. However log book loans offer a lower interest rate than payday loans, the repayment period can be much longer and you can make the repayment in stages rather than all in one go on your payday.

Many payday lenders have tightened up their criteria which has resulted in those that really need the loan being squeezed out and refused. With a log book loan there’s no credit check in most cases and your offering your vehicle as collateral further increases the chances that you will qualify.

How Much Can I Borrow?

Bad Credit Loans

This is based on the value of your vehicle. If your car is worth £2,000, then you can generally borrow up to £1,500. However loans are available up to £50K providing your car or vehicle value covers this.

Making Repayments

When considering a log book loan your main concern should be whether you can manage the repayments. Check your loan terms and conditions when applying and be sure that it is affordable. You will be offered a number of flexible repayment options from weekly to monthly repayments made by cash, cheque or direct debit from your bank account.

Will I Qualify?

As a general guide you will need to meet the criteria below –

* You are over 18 years old
* You are the legal owner of the vehicle
* You have fully paid for your vehicle or almost fully paid for it
* You are a UK resident
* You can provide all relevant log book/owner documents

From Manchester to  Leeds, London to Scotland if you’re in the UK you can qualify.

Now You Are Ready To Apply For A Log Book Loan

To apply right now just complete our ultra short application form at the top right. There’s no obligation and you could be on your way to a log book loan within minutes, apply now.

Get Your Log Book Loan Now