What is a Logbook Loan?

A logbook loan is a secured loan. Instead of being secured against a bigger asset of yours, it is secured against your car. Depending on the value of your car, you can borrow anything from around £500 to £50,000. Many logbook loan providers do not do credit checks, meaning that you can get your hands on the money tied up in your car even if you have bad credit.

The loans are quick and simple to get, and the money is often in your account within 24 hours of applying. There are often attractive early settlement deals, when you get lower rates of interest for paying the money back sooner.

As with payday loans, these loans are designed to lend for short periods of time. Although this could be extremely useful if you are confronted with an unexpected expense, the representative APR rates are frequently high. Because of this you should pay back the money as soon as you can in order to avoid big charges.

Make sure you research the market thoroughly in order to find the best company to deal with your specific loan. You can compare products on our website, and find the most appropriate deal out there for you!

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