Logbook Money Reviews, Loan Calculator and Complaints

Be the first to write a review

Is this you?

Acceptance Criteria

The car must be worth £1,000 or more
You need to provide: Proof that car is free of finance and proof that you are the legal owner of the car
You don't need to have good credit
You need to be 18 years of age or older to apply

It doesn't matter if you are employed, self-employed, unemployed, on benefits, a carer, a homemaker or on Job Seeker's Allowance, anyone can apply
You don't need to have been a UK resident for any specified length of time
You need to have a bank account with Direct Debit facilities

Loan Details

Representative APR

442.66%

Loan Amount

£500 - £50,000

Repayment Method

Standing order

Speed To Payout

Same day or within 24 hours

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Cheque

Transferred into your bank account

Cash

Income Protection Available

No

Average Customer Review

Be the first to write a review

Loanfinder Ranking

272nd for APR of 423 loans in the UK (See Lender League Table By APR)

About Logbook Money

You will only be accepted for a Logbook Money loan if you have a car which is under 10 years old, is free of finance, that is legally yours and is worth more than £1,000. You will have to sign over ownership to Logbook Money and give them a spare set of keys, however you will be able to keep driving you car. You will only be able to borrow a percentage of the value of your car, which will be decided when they see it.

You can apply online for a Logbook Money Loan. This should only take a minute or two to complete. The next stage is to get a call back from the lender to discuss your needs and agree terms. You will then need to drive in to a local Logbook Money branch to meet the lender. You then show your documents and sign your agreement. Once this is done you can receive your loan either by cheque, bank transfer or a cash loan. You then drive away in your car as normal and start making repayments as agreed with your lender.

Like other logbook lenders, this company do not carry out any credit checks so the loan will not leave a footprint on your file but this means they can help regardless of your circumstance. If you have exceptionally poor credit and cannot get a loan elsewhere then this might be an option you can use. However, please read the small print as this type of loan is renowned for having stupidly high interest rates. If you miss just one payment, they can sell your car to get their money back, leaving you with a loan to pay off and no car. This type of loan should only be considered as your last resort.