How To Get A Logbook Loan - 4 Step Process

A logbook loan is a loan secured against your car or other vehicle. There is no credit check. This makes them popular with people who have a bad credit or CCJs. In this sense they are no credit check loans similar to payday loans except that they are secured on car so you can get more money.

You can apply for logbook loans online. Most of the UK logbook loans lenders will give you an instant decision about whether you qualify for a loan. Some people like to apply to more than one company to find the best logbook loans they can.

The application form takes about 1 minute to complete. If you qualify someone from the logbook loans company will call you back to discuss your needs.

1. Apply Online

Every logbook loans company in the UK allows you to apply online for an instant decision. There is a simple online application form on each of their websites. You will be asked for information about you and your car. There is no credit check. The online application will ask you for the following information:

• Personal details
• Email address
• Telephone numbers
• Make & model of car
• Registration year of car
• Is car clear or nearly clear of finance?
• Preferred call back time

If you pass this first stage of the logbook loans application process you will receive an email telling you to expect a call back from the lender to go over your loan application. There will be no credit check at any stage of the application process.

2. Qualify – Lender Calls You Back

A representative from the logbook loans lender will then call you back at your preferred time. They will ask you a few simple questions just to go over your details and confirm that you do qualify for a logbook loan. They will discuss your needs with you and agree terms for repayment of your logbook loan.

• Qualification criteria
• Car must be clear or nearly clear from finance
• You must be the legal owner of the car (or other vehicle)
• NO credit check
• Bad credit rating is OK
• CCJs are OK
• Refused by other lenders is OK
• Must be 18 years or over.
• Must be a UK resident
• Must demonstrate that you can repay the loan
• Can borrow logbook money for any purpose
• Vehicle must be less than 8 years old (unless classic/prestige/vintage)
• Repayments schedule is agreed on a case by case basis.

3. Meet the Lender

The next stage of the logbook loans application process is to visit a logbook loans branch with your car and documents. This can often be arranged on the same day as your application. All of the logbook loans lenders have multiple branches throughout the UK, including all of the key cities and towns such as Manchester and London. You drive your car in to meet the logbook loans representative who then checks all your legal documents match the details on your application form. This is a short meeting and can be arranged at a time that suits you. You then sign your logbook loans agreement and give your V5 logbook to the lender. They will keep your car logbook until you have repaid your loan in full, at which point it will be returned to you. This is why these loans are sometimes referred to as car logbook loans.

4. Get Your Money

Once your documents have been verified you get your money. You will then receive your logbook loan either into your bank account, by cheque or even as a cash advance there and then. There is no delay, once you have signed your agreement you get your loan. This makes logbook loans very popular as a form of same day cash loan. There are no questions asked about the purpose of your loan, logbook loans are private and confidential.

You then keep your car and drive away as normal. On repayment of your loan the lender will return your car logbook to you.

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