Using the value of your vehicle to help you obtain credit may sound odd but in fact these so-called logbook loans have been around for many years. By temporarily passing ownership of your vehicle to the lender (you still drive the vehicle) through a bill of sale you can, subject to affordability, borrow for many months. In fact most loans are for periods of 6 to 18 months. The more valuable your vehicle the more you can potentially borrow.
We’ve created a more in-depth guide to logbook loans which you can find on our site. And there is more information on the website that should help you decide if this is the right form of credit given your personal circumstances. We’ve partnered with the UK’s largest and most respected lender should you decide to apply for a logbook loan.
Amanda Gillam is Solution Loans's General Manager and has been since 2009. She is also a prolific writer on personal finance issues, and has been quoted numerous times in articles published on 3rd party websites and in press releases. Her...Read more about Amanda Gillam