How Much Can I Borrow?

You can typically borrow between £500 and £25,000, although the amount may vary depending on several factors. First is the market value of your vehicle. You are basically allowed to borrow up to 50% of its market value, up to 75% in some lenders. Second is the amount of your income. Third is the amount you can afford to pay monthly. Fourth is the length of your overall repayment period.

Which vehicles are accepted?

Because we work with several lenders, we can easily find you one that accepts your particular vehicle, be it a car, SUV, motorcycle, truck, etc. What matters is that you are the legal owner of the vehicle and that it is not more than 10 years of age and is fully insured.

Do you accept vehicles under financing?

Unfortunately, most of our partners require that the vehicles are outside of financing. But if your remaining balance is particularly small, kindly let us know, as a few of our lenders may be able to make an exemption.

What are the requirements?

If you’ve made up your mind with the application, please have the following ready:

Will I need to surrender my vehicle?

Of course not. Unlike traditional car pawns, you don’t have to surrender the vehicle. You only need to surrender the logbook, but you are free to drive your car as usual. However, you might not be allowed to make any modifications with the vehicle when the loan is still in force.

How long will the loan last?

Most logbook loans last between 12 and 72 weeks. This can be shorter or longer depending on your affordability. However, we advice to keep the term as short as possible, so it will not be that expensive.

Can I make a full payment?

Yes of course! If you suddenly have the money, you can pay off the loan and be debt-free once and for all. However, our lenders may have different policies regarding early repayment. Some may allow you to do this for free, while some may charge a little extra. If you’re expecting cash anytime soon, let us know so we can find you one that will allow you to pay off the loan early, completely free of charge!

What if I am self-employed?

No worries! Even if you work part-time or are self-employed, you can still apply, provided that you can prove a source of income. That’s the beauty with logbook loans. While other lenders will deny your application without sufficient proof of a permanent and full-time job, logbook lenders are only after your capacity to make payments.