Logbook Loans | Borrow £10,000+ With Your Logbook Today
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  • Loan Amount
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  • Loan term
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  • Interest
  • APR
Loan MR
  • Loan Amount
    £100 - £5000
  • Loan term
    1 - 24 Months
  • Interest
    49.9%
  • APR
    49.9%
Representative example: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28. Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative (variable). CreditSpring – £250
  • Borrow £250 twice a year, available on demand
  • Membership fee is £6 per month (£72 a year)
  • Repay each advance in 4 monthly payments
  • 0% interest rate, you pay back only what you’ve borrowed, plus your monthly membership fee
  • Loan Amount
    £500 - £15000
  • Loan term
    12 - 60 Months
  • Interest
    Variable
  • APR
    49.7%
Borrow £4,000 over 36 months. Monthly repayment of £194.78. Total repayable is £7012.08. Interest payable is £3012.08. Fixed APR of 49.7%. Interest rate of 41% per annum. Representative APR 49.7% (fixed). Talk Loans
  • Submit your application to multiple lenders
  • High chance of approval
  • Rates from 29% APR to 69.9% APR
  • Loan Amount
    £3000 - £50000
  • Loan term
    12 - 60 Months
  • Interest
    10.87%
  • APR
    21.8%
GOOD CREDIT SCORE: Loan amount £5000 – 48 monthly payments £129.17 Total cost of credit £1200.16 – Total amount payable £6200.16 – Representative example 12.9% APR. This is a yearly flat rate of interest of 6%. This is a fixed rate.
What Credit
  • Low Rate Car Finance Packages
  • Choose The Car From Any UK Dealer
  • Finance For Good & Bad Credit Profiles
  • Same Day Drive Away Car Loan Schemes
  • Flexible Repayment Terms For Your Car Loan
  • Loan Amount
    £1000 - £15000
  • Loan term
    48 - 60 Months
  • Interest
    20.33%
  • APR
    39.9%
Representative Example: 36 Monthly Repayments, borrowing £5,000. Total Amount Payable: £8,049.60. 39.9% APR Representative. Rate of Interest 20.33%, Fixed Flat Rate. Monthly Repayment: £223.60. TFS Loans
  • Considers bad credit, CCJs, debt consolidation
  • Loan can be paid in hours if approved
  • Award winning trusted guarantor lender
  • Loan Amount
    £500 - £10000
  • Loan term
    12 - 60 Months
  • Interest
    24.20%
  • APR
    47.8%
Representative Example £3000 over 3 years, representative 47.8% APR Fixed. Monthly payment £143.84. Annual interest rate 24.2% Fixed. Interest payable £2178.24 Total payable £5178.24.
1plus1 Loans
  • Fantastic loan guarantor product to help those with poor credit
  • Loans are flexible and can be used for any purpose
  • Great for parents who want to help children build their credit score
  • Online customer service team that operates 24 hours per day
  • Loan Amount
    £550 - £50000
  • Loan term
    12 - 36 Months
  • Interest
    159.70%
  • APR
    450.5%
If you borrow £850 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will repay 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total. Loans2Go Logbook Loans
  • Use your vehicle as collateral to increase the chance of acceptance
  • Generous and flexible loan terms of 12 – 36 months
  • Retain complete use of your vehicle during the loan
  • A lender with more than 15 years of industry experience
Other types of loans

Taking out an unsecured loan can be minefield for those who have a less than perfect credit history with many mainstream lenders tightening their belts in recent years. Secured loans have long been the way for those with poor credit to gain better acceptance rates, but with more people renting their homes rather than buying them these days, it’s becoming more and more common for borrowers to use their vehicle as collateral instead.

Logbook loans are a great way for vehicle owners to get the most out of their cars, vans or motorbikes by offering these as security to lenders in exchange for a short to mid-term loan. Let’s take a closer look at how logbook loans work.

What Are Logbook Loans?

The logbook is the document that comes with all vehicles and lists the existing owner and ownership history. With a logbook loan, you’ll sign over the ownership of your vehicle to the lender, offering them added security that the loan will be repaid on time and in full.

You’ll continue to have full use and access to the vehicle at all times during the credit agreement, as long as you keep up to date with your monthly repayments. As soon as the loan has been completely repaid, the lender will reassign the vehicle ownership back to you. Need additional finance straight away? Once your loan has been repaid, you’re free to use your vehicle straightaway for another logbook loan.

As well as reassigning your logbook to the lender, you’ll also need to provide a bill of sale which is registered with the High Court.

As with more traditional loans, once your application has been accepted you’ll receive a full breakdown of the total loan amount, total amount repayable, a payment schedule highlighting each payment and interest amounts, and an end date for your loan. If you ever need to extend this then simply get in touch directly with your lender and they’ll assist wherever they can.

Alternatively, you may choose to accept a logbook loan on an interest only basis. In this scenario, you’ll only pay the interest each month in order to keep costs to a minimum and will then be required to pay back the full amount originally borrowed in the final month of your agreement.

Who Are Logbook Loans Suitable For?

Logbook loans are ideal for those who are struggling to get unsecured credit due to a poor credit score, or for those who are looking to reduce the interest rate on an existing unsecured loan by offering a vehicle as collateral.

They are typically offered for up to 18 months so aren’t suitable for those looking for longer term financial assistance, however most lenders now waive early repayment charges which can reduce the overall amount you repay.

Can I Have More Than One Logbook Loan?

Yes! As long as you can prove that each logbook loan you take out can be comfortably repaid then there’s nothing to stop you from having more than one logbook loan. However, you can only take out one logbook loan on each vehicle and there must be no finance already attached to it.

For example, if you purchased a car using a hire purchase agreement, then you technically do not own that vehicle out right. This would stop you from taking a logbook loan out on this car as you would not have the authority to transfer ownership over to a third party.

How Can I Apply For A Logbook Loan?

Logbook loans are very simple to apply for. It all begins by completing your initial application form here at Creditraters.com We’ll use this information to compare logbook loans from both mainstream and independent lenders from across the UK.

You’ll need to let the lender know the exact make and model of you car by inputting the registration plate. There are minimum vehicle value criteria, some starting at just £250, so do make sure that your vehicle qualifies before submitting a final application to logbook loan lenders. Some of the most reputable logbook loan lenders will ask that your vehicle is independently valued prior to offering final acceptance terms.

Applications can be assessed within a matter of hours with some lenders offering same day payouts once accepted. Your loan will run for a maximum term of 78 weeks however, by law, you have the freedom to pay it off earlier if you can and want to.

Begin your application today with Creditraters.com and use your vehicle to add some much needed funds to your bank account.

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