Logbook loans are a form of short term credit secured on your car. The lenders hold the logbook (V5) of your car while the car remains free for your use. Since, these loans are secured and guaranteed by the car you own, the APRs of these loans are slightly lower as compared to payday loans. The loan amounts available depends on the valuation of the car, but is higher than what is available with a payday loan. On this website we have tried to bring to you features of all main logbook loans companies operating in UK so that you get to know the best in the world without having to sieve through myriads of websites yourself. While we have tried to be as exhaustive as possible, it is probable that we may have skipped a few companies. Users are welcome to mail to us the names of any such companies at info@instantcashsolutions.co.uk. We will try to include them in the list at the earliest.
A note of caution
While the APRs of logbook lenders may seem to be low as compared to payday loans and some other form of unsecured credit, in absolute terms logbook loans can be really expensive. For example, with one of the logbook lenders, the total repayable for a £1500 loan will be £4180.80 if repaid over the full term. Please consider any other alternative available before securing a logbook loan debt. If possible, these loans should not be used for more than a period of few months.
Why some logbook loan companies you know are not here?
There may be two reasons to it:
- We may not have come across this company during our market survey. You are free to recommend to us any such company and we will add it to our list.
- The company is not actually a direct lender, but a loan broker or an affiliate. Loan brokers are companies with websites that work for some other lenders. These companies then make money out of every person applying through their website and taking a loan from some lender. We have done away with such intermediaries on our website.
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