FAQS

How much cash can I borrow?

We offer loans between £500 and £50,000. Depending on a number of factors including your vehicle’s trade value and your income, you can typically borrow the maximum amount available or that’s up to 70% of your vehicle’s value.

What types of cars do you consider?

We consider all types of cars for collateral provided that said car is free or almost free of any financing and it’s also fully insured. We are not particular with brands or makes. You just need to make sure your vehicle meets the criteria.

Do I get to keep my car after the loan is approved?

Yes, you get to keep and still use your vehicle after your logbook loan is approved. On our end, we’ll only require that you hand over the logbook document. You’ll also need to agree with the loan terms and sign the “bill of sale” document.

What if my vehicle is still attached to financing?

Ideally, your vehicle must be free of any financing to be considered. But we can be pretty flexible too. As long as you’re close to completing your financing plan, we can look at your car and set-up the loan arrangement.

Do I need to be employed to be eligible for the loan?

We require borrowers to be fully employed to be able to avail our logbook loan. But we can also consider self-employed borrowers who can provide proof of steady income. We just need to make sure you can afford the repayments before we can approve your loan application.

How quickly can I avail the cash?

Once your logbook loan application is approved, you can expect to receive the cash within a few hours. Or you can also opt to have it wire transferred to your bank account if that’s more convenient.

How do I repay for the loan?

There are different ways to repay the loan. You can do it through electronic bank transfer or through direct cash at one of our accredited payment centers. If you prefer utmost convenience, you can set up a direct debit payment for automatic monthly repayments.

Is it possible to repay the loan early? Your bank will automatically complete the transfers each month so you have nothing more to think about.

Do you have hidden fees and other charges?

We don’t have hidden fees but we do have charges associated with the logbook loan. Some of the charges you can expect include admin fees, late payment charges or early repayment fees. All charges associated with your loan are disclosed prior to the loan approval. Rest assured that we don’t insert hidden fees in the middle of the contract to ramp up your loan’s cost.

What happens if I miss repayments?

If your financial circumstance hinders you to maintain the monthly repayments, we advise you to contact us immediately. In line with our mission to help borrowers, we often act sensibly when assessing personal circumstances. We can make a new payment arrangement if necessary granted that you let us know about your situation. Failure to get in touch with us after several months of missed repayments for your logbook loan may result in vehicle repossession.