A logbook loan can help you borrow money secured against your vehicle – and essentially the lender owns the vehicle until you pay back the loan. Borrow £500 to £50,000 repaid over 1 to 5 years and find the right lender for you using our logbook loan calculator provided.
Apply For Best Logbook Loans From Direct Lenders
Borrow from £500 – £50,000 online quickly today.
Suitable for bad credit applicants
Get a loan against a car, van or motorbike here in the UK
Get your loan results quickly within 3 minutes. Get an instant online lending decision today.
We’ll check your eligibility and compare across our panel of UK based log book lenders to find you the best deals. It takes just a few minutes to get your loan results.
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Borrow from £500 – £20,000 today and get the lowest possible rates as of May, 2022. We’re a credit broker and not a lender.
A logbook loan can help you borrow money secured against your vehicle – and essentially the lender owns the vehicle until you pay back the loan. Borrow £500 to £50,000 repaid over 1 to 5 years and find the right lender for you using our logbook loan calculator provided.
This calculator will give you an idea of costs. The exact amount and Initial Rate payable will be provided from the lender subject to credit and affordability checks.
Your monthly payment will be:
£169.35
Interest on this loan will be:
£18,805
Annual Percentage Rate (APR):
230.70%
Total repaid will be:
£50,805
Car Cash Point claims to be one of the UK’s leading online Logbook Lenders offering customers their ‘Best Rate Promise’, which means if you find a lower price with another provider and they will beat it by 10%.
Representative Example: If you borrow £1,000 over 36 months at a flat rate of 96% per annum [fixed] with a rep APR of 230.70%, make 156 weekly payments of £24.87. Total charge for credit is £2,880.00.
This calculator will give you an idea of costs. The exact amount and Initial Rate payable will be provided from the lender subject to credit and affordability checks.
Your monthly payment will be:
£169.35
Interest on this loan will be:
£18,805
Annual Percentage Rate (APR):
450.5%
Total repaid will be:
£50,805
Logbook Loans is operated by Loans2go who have over 50 branches and mobile representatives across the UK, they are able to assist with your application in person and helping you get the cash you need as quickly as possible.
Representative example IF YOU BORROW £850 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR YOU WILL OWE 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total
This calculator will give you an idea of costs. The exact amount and Initial Rate payable will be provided from the lender subject to credit and affordability checks.
Your monthly payment will be:
£169.35
Interest on this loan will be:
£18,805
Annual Percentage Rate (APR):
349.9%
Total repaid will be:
£50,805
AutoMoney is a trading style of Mobile Money who have been providing logbook loans for over 19 years making then part of the longest established and experienced lenders of this type in the UK.
349.9% APR Representative Example: If you borrow £1,000 over 18 months at an interest rate of 160.2% per annum (fixed). You will make 18 monthly payments of £149.14 with a total amount payable of £2,684.52.
This calculator will give you an idea of costs. The exact amount and Initial Rate payable will be provided from the lender subject to credit and affordability checks.
Your monthly payment will be:
£169.35
Interest on this loan will be:
£18,805
Annual Percentage Rate (APR):
190.3%
Total repaid will be:
£50,805
Varooma believe in making the process of taking out a logbook loan as quick and simple as possible. From the moment you make an application, to the point when you receive the money directly into your chosen bank account.
REPRESENTATIVE EXAMPLE: Amount of Loan £1000.00. Repayable by 12 monthly repayments of £141.67 or 52 weekly repayments of £32.69 commencing 1 month from the date of the loan. Total Amount Repayable £1700.04. Rate of Interest 70% per annum flat fixed. Representative 190.3% APR.
This calculator will give you an idea of costs. The exact amount and Initial Rate payable will be provided from the lender subject to credit and affordability checks.
Your monthly payment will be:
£169.35
Interest on this loan will be:
£18,805
Annual Percentage Rate (APR):
495.12%
Total repaid will be:
£50,805
V5Solutions.co.uk has over 12 years experience and have developed an innovative loan system that puts you in the driving seat. They offer loans at some of the lowest rates you will find offered by other log book loan lenders on the marketplace
Borrow £1,000 over 18 months at a fixed annual interest of 128.16% and 495.12% APR. Make 78 weekly payments of £37.47 per week with the total repayment coming to £2922.66.
This calculator will give you an idea of costs. The exact amount and Initial Rate payable will be provided from the lender subject to credit and affordability checks.
Your monthly payment will be:
£169.35
Interest on this loan will be:
£18,805
Annual Percentage Rate (APR):
189.9%
Total repaid will be:
£50,805
Mobile Money provides same day logbook loans from £500 to £25,000. Logbook loans use your car or vehicle as security. Using your car as security means that you can get a better interest rate compared to some other forms of adverse credit lenders.
189.9% APR Representative: If you borrow £1,000 over 18 months at an interest rate of 111.3% per annum (fixed) you will make 18 monthly payments of £116.31 with a total amount payable of £2,093.58.
Read our customer and visitor reviews for this product:
Good comparison service and lenders to choose from. Easy application form.
Plently of loans to choose from
by SL
These facility by Feasible.co.uk provided many solutions and gave me choice of several lenders as part of the search. Vey fast and no issues using them. Quick to phone me back also.
Borrow up to £50,000 with a Logbook Loan from Lending Expert
A logbook loan can help you borrow money secured against your car, bike or van – and essentially the lender owns your vehicle or ‘logbook’ until you pay back the loan.
With the comparison table provided by Lending Expert, you can compare logbook loans and find the best deal for you, whether you are looking to borrow £500 to £50,000 over a period of 1 to 5 years.
We offer logbook loans in London, Manchester, Liverpool, Birmingham, Bristol, Reading, Newcastle and everywhere across UK, Scotland and Wales. Even if you have bad credit, are unemployed or on benefits – our lenders may be able to consider your application.
Depending on the lender we feature, you will typically be able to borrow at least 50% of your vehicle’s value, but don’t forget that your loan is secured against your car. So if you are unable to keep up with repayments, this could be repossessed by the lender as a last resort.
Simply use our table provided and click on ‘check my eligibility’ where you will be taken to the direct lenders website where you can apply. Logbook loans are typically approved and funded within a matter of days.
Key Features
Borrow up to £50,000
Repaid monthly over 1 to 5 years
Secured against your vehicle
Borrow at least 50% of your vehicle’s value
All types of vehicles accepted
Bad credit considered
Funded within a few days of approval
At Lending Expert, We Can Offer:
Logbook loans for classic cars
Logbook loans for bikes and motorbikes
Logbook loans for vans and campervans
Logbook loans for older vehicles of 10 years or more
How Do a Log book Loans Work?
A logbook loan can be a very fast and effective way to borrow a large sum of money if other options are not available. When you apply, you will need to provide that you are the registered keeper of the vehicle and you will temporarily hand over your car’s logbook (V5) to the lender.
The logbook lender will hold this document, confirming that they own this, and then give it back to you until the loan is repaid in full. So essentially, the lender will own your vehicle temporarily during the loan term.
It may depend on the lender you choose, but you can typically borrow around 50% of your car or bike’s value, with older vehicles accepted too, if they are 5,7 or 10 years old.
You can still be approved if your car is on finance – and the amount you can borrow may be adjusted accordingly.
The most important thing to remember is that if you cannot repay your logbook loan and the lender has tried to contact you, eventually your vehicle may be repossessed to help the lender recover the money they have lent out to you.
Use Our Logbook Loan Calculator
Use the calculator provided to select the best loan amount and duration for you. The amount you can borrow is based on the value of your vehicle and other factors including your income and credit status.
Do You Offer Logbook Loans for Older Cars Over 10 Years Old?
Yes, our lenders are willing to offer logbook loans for older cars that are 5,7 or 10 years old, with some taking a view on classic cars too. The reason that some lenders do not accept older cars is because they are likely to be worth less over time, especially if the loan term is around 5 years old. But with some vehicles, such as classics and vintage cars, they will keep their value and some lenders are willing to take a view, also taking your income and credit status into consideration.
What is the Eligibility Criteria?
Must be over 18 years of age
UK residents only
Must be registered keeper of the car, bike or van
Campervans and caravans considered
Must be employed and able to afford monthly repayments
Car or vehicle must be used as security
All credit histories considered including bad credit
Can I Get a Logbook Loan if I am Unemployed or On Benefits?
No, typically you will need to be employed, either part-time or full-time and able to afford monthly repayments.
There are some direct lenders we work with who may consider your application if you are unemployed or on benefits – since being on benefits is a form of regular income. The lender will also take into account the value and condition of your vehicle.
Why Would I Get a Logbook Over a Traditional Loan?
Logbook loans are popular for people with less than perfect credit scores who may have been turned down for traditional credit cards and personal loans, but they do have a valuable car which they can use as security to borrow money.
In some cases, you may find that businesses or more well-off individuals use logbook loans to raise large sums of money quickly. For instance, if you own a sports car or supercar, you could use this as security and borrow large amounts such as £25,000 or £50,000 for any purpose.
How Much Does a Logbook Loan Cost?
Based on an example from MoneyAdviceService, the typical APR is around 400%.
If you borrowed £1,500 and paid £55 a week for 78 weeks, you would repay over £4,250 in total.
That means you would have paid over £2,750 in interest in order to borrow £1,500.
Are Logbook Loans Available for People with Bad Credit?
Yes, logbook loans for bad credit are available, since it takes into account the value and age of the vehicle and this is used as security to help you borrow the money you need.
It is common for logbook lenders to run a credit check and you will need to be employed to ensure that you can afford monthly repayments and avoid falling into financial difficulty.
How To Apply for a Logbook Loan with Lending Expert
You can apply for a logbook loan online with Lending Expert, for free, and no impact to your credit score.
Simply use our price comparison table provided and select the best logbook lender for you based on the rates, loan amount and terms provided. Click on ‘Check My Eligibility’ where you will be taken directly to the lender’s website where you can apply and receive a provisional decision in minutes.
At Lending Expert, we are proud to offer a whole of market comparison for logbook loans and all other types of financial products. This ensures that you can see the best market rates all in one place, saving you time and money.
You can apply for a quick logbook loan today and if approved, you can usually receive funds to your bank account within a matter of days.
FAQ
A logbook loan is a loan that is secured against your car or vehicle such as a motorbike or van. Loans are often secured via a bill of sale and your vehicle provides security to the lender in the event you were unable to pay back the loan.
Yes, if you are very behind on repayments and have not responded to any communication from the lenders and have refused to pay, your vehicle can be repossessed as a last resort. But it is noted that measures will be taken by the lender to avoid this.
Yes. There are a selection of lenders who will provide loans without a formal credit check. They will however make assessments and checks to ensure you can meet the repayments of the loan.
Most logbook lenders will require the following basic information:
- Logbook in your name
- Certificate of insurance
- MOT Certificate, if applicable
- Photographic proof of identity - passport or driving licence.
- Proof of residence - utility bill.
- Proof of income - 3 months pay slips or bank statements.
Generally, less than 10 years old, but there are some exceptions for some lenders who will borrow against older cars with high mileage and classic cars.
Yes, all customers have the right to settle their loan at any time. There are no charges for settling early and depending on how early you settle, you could be entitled to a rebate.
There is a large choice of UK logbook direct lenders to choose from many of whom you can apply to online. Our panel consists of Car Cash Point, Autoadvance, Varooma, Ramsdensforcash, v5lenders, Mobile Money, v5 solutions, Auto Money, Easy Logbook Loans, Loans2go.
Yes. Logbook loans are available for pensioners over 65, 70 and those who have retired. You will however need to demonstrate to the lender that you are able to afford the repayments and have income that meets their requirements.
You can borrow between £500 to £50,000, with most lenders starting at around 50% of the value of your car, bike or van.
No. You will need to provide the lender adequate proof of income to show you are able to meet the loan repayments. If you are employed then this will be your most recent payslips. If you are self employed as a sole trader or company director then you may need to show proof of accounts or SA302 documents from HMRC that show your income for the last financial year. If you are a pensioner then you may need to show pension and or benefit income.
If you are looking for alternatives, you can also consider secured loans against your home or property, or perhaps a guarantor loan if you have a person you know that can guarantee repayment on your behalf. Credit unions or borrowing money from family and friends are also good options and come with little or very low rates.
Yes, you can still get a logbook loan even if your car is on finance such as PCP or Hire Purchase.
Yes you are get a local logbook loan provider near you on Lending Expert. However most of the lenders provide a national service all over the UK.
Yes, often a logbook loan is referred to as a tax book loan. They are the same type of loan that is secured on your vehicle. It could be a car, motorbike or van.
