What are Logbook Loans?
The logbook loan from LoanOnYourCar.co.uk is the perfect way to withdraw cash from your car via a same-day cash loan. Using your car as financial security allows you to get a better loan interest rate compared to unsecured forms of credit.
Logbook loans allow you to retain full personal use of your vehicle for the duration of the loan and are secured against your car using a Hire Purchase Agreement (HPA), regulated by the Consumer Credit Act (in contrast to original logbook lenders, who secured the car against the loan via the Bill of Sale Act of 1882).
What’s more, with a logbook loan, we’ll never ask you to surrender your logbook or spare key in order to secure the loan.
The trade value of your car will determine the maximum value of the loan, therefore the more your car is worth, the more you can borrow against it.
We also ensure all our borrowers’ monthly repayments are affordable and manageable, in line with their current monthly financial commitments.