Every logbook loan we offer is secured against your vehicle and priced according to how much you borrow. Below are the exact representative examples for our two lending tiers.
What does “Representative APR” mean?
The representative APR is the annual percentage rate that at least 51% of successful applicants will actually receive — it’s a standard way of comparing the cost of credit across lenders. Because a logbook loan’s rate depends on the value of your vehicle and how much you borrow, your own rate could be higher or lower than the representative figure shown here, which is why we’ve shown both of our lending tiers in full below.
Representative Loan Example
All our agreements are secured against your vehicle and are subject to affordability.
Loans up to £1,500 (10% per month)
| Representative APR | Duration | Amount of Credit | Fixed Annual Rate | Total Cost of Credit | Instalments |
|---|---|---|---|---|---|
| 442.85% | 78 Weeks (18 Months) | £700 | 120% | £1,260.00 | 78 × £25.13 |
Loans over £1,500 (8% per month)
| Representative APR | Duration | Amount of Credit | Fixed Annual Rate | Total Cost of Credit | Instalments |
|---|---|---|---|---|---|
| 310.23% | 78 Weeks (18 Months) | £2,500 | 96% | £3,600.00 | 78 × £78.20 |
Frequently Asked Questions
Am I eligible for a logbook loan?
You'll generally need to be over 18, have a UK bank account, be the registered keeper and legal owner of the vehicle with the V5C logbook in your name, have little or no other finance secured against the car, and be able to show proof of regular income to cover repayments. See our How It Works page for the full list.
How much can I borrow?
You can borrow between £700 and £100,000, secured against the value of your vehicle. The exact amount depends on your car's value and an affordability assessment.
How does a logbook loan work?
A logbook loan is secured against your vehicle. We hold your V5C registration document and remain the legal owner while the loan is active, but you stay the registered keeper — so you keep driving the car, you just can't sell or modify it until the loan is repaid.
What happens if I don't keep up with repayments?
Your vehicle may be at risk of repossession and your credit rating will be affected. If you're struggling with repayments, contact us as early as possible — see the warning notice above for free debt help.
WARNING: Late repayments can cause you serious money problems. For help or advice please go to www.moneyadviceservice.org.uk.
A logbook loan is secured against a vehicle. If you do not keep up with repayments in line with the terms & conditions of the agreement, your vehicle may be at risk of repossession and your credit rating will be affected.
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