Logbook Loans | Borrow £10,000+ With Your Logbook Today page

Warning: Late repayment can cause serious money problems, for help and advice please go to moneyadviceservice.org.uk

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  • Loan Amount
    £500 - £500
  • Loan Term
    4 Months
  • Interest Rate
    0%
  • APR
    38.6%
Representative example: Total amount of credit of £1,000 over 12 months. The first payment for each advance is £83.35 followed by 5 monthly repayments of £83.33. 12 monthly membership payments of £8. Rate of interest 0% p.a. (fixed), Representative 38.6% APR. Total amount payable £1,096. Creditspring – £500
  • Borrow £500 twice a year, available on demand
  • 0% interest rate, only pay back what you borrow plus your monthly membership fee
  • 14 days to change your mind before you can borrow. Then you'll be able to borrow whenever you need it
  • Loan Amount
    £250 - £250
  • Loan Term
    4 Months
  • Interest Rate
    0%
  • APR
    87.4%
Representative example: Total amount of credit of £500 over 12 months. 8 monthly repayments of £62.50 and 12 monthly membership payments of £6. Rate of interest 0% p.a. (fixed). Representative 87.4% APR. Total amount payable £572. 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
    £3000 - £50000
  • Loan Term
    60 Months
  • Interest Rate
    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
    £100 - £400
  • Loan Term
    8 Months
  • Interest Rate
    102.4%
  • APR
    466.37%
Representative Example: £200 loan repayable over 34 weeks at £10 per week, Rate of interest 107.1% p.a fixed; Representative 466.37% APR, Total amount payable is £340 Morses Club
  • An easy application process
  • Quick decision
  • No restrictions on spending
  • Loan Amount
    £550 - £50000
  • Loan Term
    36 Months
  • Interest Rate
    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

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.