Your logbook or V5 is
the document which confirms that you are the registered keeper of the vehicle.
With a logbook loan, you can borrow
cash based on the value of your vehicle and the logbook lender retains the
logbook whilst you pay the loan back. The loan is secured against your vehicle,
and as soon as it is settled by you, the logbook
lender will send you back the logbook. For the duration of your repayment
period, the logbook lender is the owner of the vehicle, but you will still be
able to keep driving it as normal.
The loan is secured using a Bill of Sale in England and Wales, and this is the document which transfers legal
ownership of the vehicle to the lender until the loan is repaid in full. In
Scotland, whilst the principle is the same, the paperwork is slightly different
in that rather than a Bill of Sale being used, you sign a sale agreement
transferring ownership to the logbook lender, and they then hire the vehicle
back to you under a hire purchase agreement. Again, you still continue to drive
the vehicle for as long as you are making repayments towards the loan.
Either way, even if you’ve been refused credit before, or you’re
just looking for a fast decision on a loan, a log-book-loan could be the simple solution.
How It Works?
You could borrow between £250-£50,000. Our service is at no
cost to you, and there is no obligation to accept the quote you receive.
·
No obligation FREE quote
·
Same day approval
·
Get your money sameday
·
You continue to use your vehicle
·
No early settlement fees
·
No hidden charges
Requirements
It's simple, here's a
breakdown of what you will require if you get a free quote with us and decide
to pursue a logbook loan:
·
The vehicle's V5 document (logbook)
·
MOT certificate
·
Vehicle insurance details
·
Proof of income (pay slips or bank statements)
·
Proof of identification with current photo
(passport, government issued ID)
·
Recent bills containing your permanent address
Refused A Loan?
We will consider
applicants with poor credit as long as they can afford the repayments.
·
Refused a loan elsewhere? We could help you
·
Bad credit rating?
·
CCJs considered
·
Self-employed considered
