Borrow against your car and keep driving it.
Your loan is secured with a Bill of Sale. You keep the keys and use your car as normal, and ownership comes back to you once the loan is paid off.
At a glance
- Your keys
- Stay with you
- Your V5C
- Never handed over
- Spare key
- Not needed
- Secured with
- A Bill of Sale
- Once repaid
- Ownership back to you
A UK direct lender you can rely on
-
Established 200915+ years lending
-
Thousands of driversTrusted us with their car
-
Rated Excellent 4.8 / 5 from 174 Trustpilot reviews (opens in a new tab)
-
UK based teamReal people, real phone line
-
FCA authorisedFirm reference 680947
-
ICO registeredYour data protected
While you repay
Nothing changes about how you drive.
-
Drive as normal
You keep the keys and use your vehicle as normal while you repay the loan.
-
Keep your V5C
We never ask you to hand over your V5C logbook. Your loan is secured with a Bill of Sale instead.
-
No spare key needed
We do not ask for your spare key. The keys stay with you throughout.
-
Settle early at any time
Settle whenever you like and get a rebate on interest. Early settlement quotes include one month's interest.
Your car and the Bill of Sale
How your car secures the loan.
A Bill of Sale makes Logbook Money the legal owner of your vehicle while the loan runs. You keep the keys and carry on driving, and ownership goes back to you once the loan is repaid in full.
For most loans a signing agent visits to witness the Bill of Sale and take a photo of you with the car for identity purposes. In Scotland you sign a Hire Purchase agreement online and send us the photos and documents instead, with no visit needed.
Our Borrower Information Sheet (PDF, opens in a new tab) explains how a Bill of Sale works.
If you fall behind
Talk to us as early as you can. We will work with you to find a good outcome, such as a payment arrangement or a reduced repayment plan. Repossession is only ever a last resort.
Your car may be repossessed if you do not keep up repayments on a loan secured against it.
Questions about your car
Can I keep driving my car?
Yes. You keep the keys and use your vehicle as normal while you repay the loan.
Do I have to hand over my V5C logbook?
No. We never ask you to hand over your V5C logbook. Your loan is secured with a Bill of Sale instead, which makes us the legal owner of the vehicle until the loan is repaid, while you keep the keys and carry on driving.
What happens if I can't keep up my repayments?
Talk to us as early as you can, as soon as your circumstances change. We will work with you to find a good outcome, such as a payment arrangement or a reduced repayment plan. Your car may be repossessed if you do not keep up repayments on a loan secured against it.
Can I hand my vehicle back?
Yes. If you run into unexpected financial difficulty, you can surrender the vehicle by dropping it off at one of our approved auction houses. If it is roadworthy and well maintained, we may accept it as partial or full settlement, in line with the CCTA code of practice for logbook loans.
When would you repossess a vehicle?
Only as a last resort, when there is no willingness or intention to repay the loan. Circumstances change, and we will always work with you in good faith first, whether that means a reduced repayment plan or a voluntary surrender of the vehicle.
What happens after a vehicle is recovered?
We hold the vehicle for 14 days to give you the chance to settle the loan and collect it. After that we sell it and use the proceeds to settle the loan. Any money left over is paid to you, and you remain liable for any shortfall.
Borrowing responsibly. We only lend when the repayments are affordable for you. Our service is not advised, so if you are worried about money you can get free, impartial help from MoneyHelper, StepChange or Citizens Advice.
News and guides
Latest from Logbook Money
-
Bad credit vs no credit: why lenders treat them differently
Having no credit history is not the same as having bad credit. Here is how lenders read each one and the steps that help you improve either.
Read article -
Can I top up my logbook loan? What you need to know
Already have a logbook loan and need a bit more? Find out when a top-up may be possible, how we assess it and what to think about before asking.
Read article -
Why your V5C logbook matters and how to keep it up to date
What your V5C logbook shows, why keeping it up to date with the DVLA matters and what happens to it when you take out a logbook loan.
Read article -
Types of loans in the UK and how each one works
Personal loans, secured loans, credit cards, overdrafts, BNPL and more. A plain guide to the main types of UK borrowing and how each one works.
Read article -
Loan to value explained: how much can you borrow on your car?
Loan to value compares what you borrow with what your vehicle is worth. See how it works, how your car is valued and why it shapes your logbook loan.
Read article -
The life of a logbook loan, from quote to final payment
What happens at each stage of a Logbook Money loan: your quote, checks, signing, payout, the repayment months, top-ups, settling early and the end.
Read article