Most log book loans are secured against your vehicle using what is called a bill of sale, in England and Wales. When you take out a logbook loan you sign a loan agreement to borrow the money and you also sign a bill of sale which transfers ownership of the vehicle to the lender for the duration of the contract. But don’t worry: you can continue driving the vehicle as normal while you are repaying the log book loan. For more information about bills of sale click here.

In Scotland, the principle behind a log book loan is the same but the paperwork differs. Rather than using a bill of sale, you sign a sale agreement transferring ownership to the lender and then they hire the vehicle back to you under a hire purchase agreement. Again, you continue driving the vehicle as long you maintain your payments.

• Be over the age of 18 and a UK resident;
• Be able to show you can comfortably afford the repayments;
• Have a photo ID (passport, driving license or CIS card); and
• Own a vehicle which is clear (or nearly clear) of finance and which is taxed, MOT’d and insured.

We put our customers at the centre of our product design. Our Logbook Loans are built so that your agreement fits comfortably into the way you manage your finances. When you apply we take you through all the options available to you. Here are just a few:

Loan duration
We offer loans from 12 to 36 months.

Payment frequency
We are happy for you to pay weekly, fortnightly, 4-weekly, monthly, or any other frequency as long as we receive your payments on or before their due date.

Dual signatories
You can either sign the loan in your sole name or with a second applicant. If, for example, you earn all the income but your partner owns the family vehicle, we could be able to accommodate you. But we would have to access both applicants’ financial circumstances.

Signing location
We can complete your loan at any location. That could be at home, a café or another location you prefer.

Payment method
Our preferred payment method is a continuous payment arrangement (‘CPA’), which allows us to take payments directly from your debit card. But you don’t have to pay by CPA. You could also pay using a paying-in book, or by phoning us each week to pay over the phone.

You should always think very carefully before entering into any type of financial commitment. Taking out a log book loan can carry some associated risks, but we guide you through all avenues before you commit to a logbook loan.

While weighing up whether to get logbook loans, you should consider both the benefits and the risks. A logbook loan is secured against your vehicle, which means if you aren’t able to maintain your repayments your vehicle might be at risk.

If you’d like to see out how much you can borrow, over what period and what your monthly repayments are likely to be, head over to our logbook loans calculator!

We always do everything we can to help customers facing a change in circumstances, or other personal difficulties, that affect their ability to repay. However in taking out a credit agreement you are agreeing to make repayments as outlined in that agreement.

If you don’t keep in contact with us to discuss any arrears on your account, we may be left with no option but to recover your vehicle. However, we always do our very best to help you through difficult times; as long as you do your best to work with us. Your successful repayment of your loan is our ultimate goal.