What Is A V5 Logbook Loan? - A V5 logbook loan is when you use your vehicle as collateral to secure a loan. They get their name from your V5 document, which is also known as your logbook.

Why Would I Need It? - Logbook loans are generally taken out by people who need cash, but do not have the credit rating to secure one. Logbook loan lenders do not perform a credit check, and so you can get a loan regardless of your current credit history, as long as you are eligible and have a car that meets the requirements. Once you have the money, you can use it on anything you would like. Most people get logbook loans to help pay of other debts they have, but can not afford right away.

Who Should Apply For This Type of Loan? - Anyone with bad credit who is in need of a loan can apply for a V5 loan.  They are ideal for anyone with bad credit who cannot secure a loan through traditional means.

How Do I Know If I Am Eligible? - To be eligible for a logbook V5 loan, you must meet the following requirements: You must be at least 18 years of age, a legal resident of either Wales or England, and the legal owner of the vehicle. The vehicle you are using must also have little to no financing left on it in order to be eligible as collateral.

What Do I Need For The Application? - To apply, you will need to supply us with the following information: Your vehicle's V5 document (the logbook), MOT certificate, A proof of residency and identity (Photo ID), and proof of income (A pay stub). You will also need to provide documentation to show that your vehicle is fully insured. Lastly, your lender will want to inspect your vehicle before completing the loan, so you will want to bring it with you to your appointment.

How Much Can I Borrow? - This will vary depending on which lender you go with. Obviously, the more your car is worth, the more you are capable of borrowing. Generally, you can borrow up to half of what your car is worth, but this is not set in stone.

How Long Do I Have To Pay It Back? - This will also depend on the lender you choose. Each lender will work with you to figure out a repayment plan that works for you. They will take into account your current income and the amount you want to borrow in order to determine how much to pay back on each due date. Get to know more about logbook loans repayment schemes here.

What Kind Of Cars Are Acceptable? - Most of our lenders will accept any type of vehicle. This includes cars, motorcycles, trucks, etc. For the most part, our lenders want the vehicle to have been manufactured within the past 10 years. Each lender will have its own rules about which vehicles they accept, so just fill out our free application to see which lenders will give you the best deal.

What Do You Charge For Your Service? - Our service is completely free to use. We only get paid when you successfully take out a loan, and then we get paid by the lender, not from you. You can use our service as many times as you want, all at no charge.

Can I Keep Driving My Car? - Yes! This is one of the best parts about using logbook loans. Throughout the duration of your loan, you can continue using your vehicle. As long as you make your payments on time, your vehicle will remain in your possession. Our lenders know that your vehicle is probably vital to making an income, so they do not want to make that any harder on you.

What Happens To My Personal Details? - All of your personal information is stored by us only for the purposes of finding you a deal. We will never sell or share your information with anyone else without your permission.

How Long Does It Take To Apply? - Our application only takes less than a minute. Once you have finished with our application, the rest of the process is a breeze. You'll be presented with loan options, and once you select which one you want, you'll be contacted by that lender. From there, it is up to you and the lender to work out the rest of the details, but you should be able to work something out fairly quickly.

Who Are Your Lenders? - We have scoured the web and partnered with some of the best lenders possible. They have shared all of their rules for giving out loans to us, and we use these rules to help determine which loans will be right for you. All of our lenders have passed our standards for trustworthiness, but you should still feel free to research them for yourself.

Apply Now!