Logbook loan questions, answered plainly.

A loan secured against your vehicle with a Bill of Sale. Logbook Money is the legal owner of the vehicle until the loan is repaid in full, but you keep the keys and carry on driving. Ownership goes back to you once the loan is paid off.

You must be over 18, a UK resident, the owner of the vehicle and have a regular income.

We also check your personal circumstances to make sure the loan is affordable for you, whatever your vehicle is worth.

Cars, vans and motorbikes. Cars under 15 years old are more likely to be accepted, though it depends on the make and model. Enter your registration to see whether your vehicle is suitable.

Your vehicle must be registered in your name, completely free of outstanding finance, in good mechanical and cosmetic order, and have valid tax, MOT and insurance.

Yes, as long as you can show that you are the owner of the vehicle.

You may still be able to borrow. Our decision is based on the value of your vehicle and whether you can afford the repayments, not just your credit score. We look at every application on its own merits and understand that not everyone has a perfect credit history.

Yes. As long as you meet the criteria and can comfortably afford the repayments, we will consider your application.

Yes. If your new income is not yet showing on your bank statements, we will usually ask for a copy of your contract of employment.

No.

From £1,000 up to £50,000, and up to 80% of your vehicle's value, subject to vehicle, credit and affordability checks.

Our representative example is 193.63% APR with a fixed annual interest rate of 84.0%, based on borrowing £3,000 over 36 months. The representative APR is the rate at least 51% of people taking out a loan are expected to receive.

The rate you are offered depends on your circumstances and your vehicle. You will see it, with your full repayment schedule, in your personalised quote before you commit.

No. There are no hidden fees for taking out a logbook loan with Logbook Money. Interest is fixed when you sign, and your quote shows exactly what you will repay.

Terms run from 18 to 60 months, with weekly or monthly repayments. Use the loan calculator to see how the term changes your repayments.

No. We run a soft credit search with TransUnion, which does not affect your credit score.

The whole process is usually complete within 24 working hours. An underwriter usually calls within 2 working hours of your application.

Once the Bill of Sale appointment is done, we send the money by bank transfer, and how quickly it reaches your account depends on your bank.

Most of the process happens online and over the phone. For most loans a signing agent visits, usually within 3 working hours of approval, 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.

Yes. Your details are kept confidential, and your bank statements are shared securely through Open Banking, with no PDFs to download or email.

This is usually because the vehicle does not meet our criteria yet, for example you are not yet the owner or do not have all the right documents. You are welcome to apply again when you do.

With your permission, we can pass your details to one of our trusted partners, who may be able to offer you an alternative loan.

No. As a responsible lender we only allow one logbook loan on your vehicle at a time. Once it is repaid you can apply again, and if your first loan was repaid well we may be able to offer you more next time.

Possibly, depending on your circumstances and how much you first borrowed. You must be fully up to date with your repayments, and we never offer top-ups in the first 6 months. Call us on 0333 24 123 44 to talk it through.

Yes. You keep the keys and use your vehicle as normal while you repay the loan.

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.

Our Borrower Information Sheet explains how a Bill of Sale works. You can download it from the bottom of any page.

You repay in weekly or monthly instalments through a recurring payment from your debit card.

Yes. You can settle your loan at any time and get a rebate on interest, so the sooner you settle, the less you repay. Early settlement quotes include one month's interest.

You also have the right to withdraw within 14 days of the agreement being made. You would repay the amount borrowed plus interest for the days you had it.

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.

We would rather not charge. If you miss a payment we remind you by text and email and give you the chance to pay without a charge.

After that, we charge £12 for each letter or text we have to send you about that missed payment. Your interest is fixed when you sign, so we do not add extra interest for late payments. If you are having problems, get in touch and we will try to arrange another payment date or method.

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.

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.

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.

Yes. Logbook Money is authorised and regulated by the Financial Conduct Authority for Bill of Sale lending.

We are a direct lender, not a broker. You deal with our own UK team from your first quote to your final repayment, and we make the lending decision ourselves.

Call us on 0333 24 123 44, email hello@logbookmoney.com or write to Logbook Money Limited, PO Box 260, Knaresborough, HG5 5DP.

Monday to Friday 9:00 to 19:00. We are closed at weekends and on bank holidays. You can apply online at any time.