Instalment loans from Logbook Loans

At Logbook Loans we offer instalment loans for amounts between £400 to £50,000. Let’s take a few minutes to explain clearly what is a logbook loan and what is an instalment loan.

A logbook loan is a loan that is secured against a vehicle. The term “logbook“ refers to the vehicle’s registration document – V5C. When you take out a logbook loan with us, we hold this document as security for the duration of the loan. You keep the vehicle during this time and have full use of it as normal.

Once the loan is repaid we return the V5C to you. Logbook loans can be secured against a wide range of vehicles including cars, motorbikes, vans and even vintage cars. All we ask is that the vehicle is roadworthy, taxed, MOT’d and insured; and free (or nearly free) of existing finance.

An instalment loan is a loan that is repaid in instalments ie bit by bit. All our logbook loans are repayable this way. The repayment periods for our instalment loans range from 12 months to 36 months. You can make repayments on a weekly, fortnightly or monthly basis over that period.

Most customers prefer to pay by continuous payment arrangement (CPA), which enables us to take the repayments directly from your debit card. However, you can also make your own regular repayments by debit card, bank transfer or cheque.

It is possible that your circumstances will change during the period of the instalment loan. If your finances improve and you want to repay the loan early ie before the end of the agreed period then you have the right to do this. There are no charges for settling early and you may even be entitled to a rebate.

If you run into financial difficulties during the period of the loan, and are unable to make repayments then all we ask is that you contact us to explain the circumstances. We will always do what we can to work with you and try to mutually agree alternative repayment measures. But do be aware that the logbook loan is secured against your vehicle and the worst-case scenario is that your vehicle may be at risk of recovery if you cannot or will not continue to make some form of loan repayments.

The exact amount that you personally can borrow from us depends on the value of your vehicle and the affordability of the repayments. If you have a poor credit history and have been turned down for a loan in the past, we may still be able to help you; it all depends on your ability now to make the loan repayments rather than your credit score.

You can get an idea of how much the repayments would cost by using our online Logbook Loan Calculator.

If your application for an instalment loan is approved we can usually give you the money the very same day paid directly into your bank account.

If you are aged 18 or over and want to make an application for an instalment loan with Logbook Loans then either call us on 0330 400 6000  or enquire online and one of friendly customer services representatives will get in touch.