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Representative APR Range

450.5% APR Representative

Our Lending Partners Representative Example: 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 make 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total. However, our lending partners only charge interest monthly and do not penalise you for early settlement. If you repaid the loan in one month it would cost you just £93.50 and nothing more.

Logbook loans are secured against your vehicle and are subject to affordability. Missed payments may result in additional fees and/or the repossession of your vehicle. Over 18s only, T&Cs apply

How

Logbook loans are among the simplest types of loans to get. Though the process to get logbook loan is not hard it is still better to know how to get a logbook loan because it can save some time as there are a lot of logbook loan providers. All of them can be reached online or through telephone call.

1st step

1st step is quite simple. The person who wants to get logbook loan should look through different logbook loan providers' websites. There are always online applications available where the person can get online quote. It does not hurt to get at least few quotes in order to choose the best available conditions as they may differ depending on a logbook loan provider. It is also possible to call for a logbook lender with the numbers provided on the lender's website.

2nd step

After the quote is received the person decides whether to accept it or not. He is under no obligation to accept the quote and choose the most appropriate one.

3rd step

If the person decides to accept the quote given by a logbook lender he should come to the nearest provider's office in order to have logbook loan contract underwritten. The person should expect to get the money in cash or to the bank account in a few hours time. It is important to have logbook(V5) documents to your car in order to get a logbook loan.

4th step

The person gets money and still keeps his car. Only the rights to his vehicle are passed to the lender.

5th step

After the money are received the person must repay a loan during a time indicated in the policy documents. Installments should be made on time and it is important to remember that if the person misses payments, additional costs are implied for him and that miss payments may result in that the lender will repossess the vehicle due to borrower’s incapability to repay the debt.

6th step

Either the loan is repaid and the rights to the vehicle returns to the original owner or the lender repossess the car. Moreover, also renewal of the policy may be signed. The details of it should be disclosed with a logbook loan provider. Normally it can done by asking for an extension. If the extension is granted the borrowing is extended at the disclosed rates for an agreed period of time.

 

Consumer notice: A logbook loan is a loan that is secured against a vehicle. This vehicle, most often a car, serves as a collateral. In order to apply for a logbook loan you have to own a car that is no older than 10 years old and is clear or almost clear from financial liabilities. The biggest advantage of the logbook loan is that after the logbook document is surrendered to the lender, the person can still use the vehicle. After the logbook document that can also be called V5 document is given to the lender, the person is issued a loan.

The amount of the loan is linked to the value of the car and how much you can afford to repay, so any credit history can be considered. You can submit your application for the logbook loan quote using our website and we will connect you with a suitable logbook lender. No fees will be applied by the logbook lending company for this service. Logbook lending company will contact You very shortly after You submit Your application.

Legal disclaimer: Loansoncar.co.uk is not an authorised financial advisor and we do not directly offer financial products to our customers. Our website only redirects people seeking for logbook loans to the companies that have an FCA License and are registered with Office of Fair Trading. For those people that require financial advise we strongly recommend to contact independent financial agents in Your local area.


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