Logbook Loans

  • Borrow £1000 to £10,000
  • Secured on your car
  • Keep using your car
  • Bad credit considered
  • No hidden fees
  • Quick decision
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What is a Logbook Loan?

Secured loans against your car

Logbook loans (sometimes called V5 loans) are loans secured against your car, van or motorcycle. Ownership of the vehicle transfers to the lender while you pay off the loan. In the meantime you continue driving it as normal. When you have paid off the loan the vehicle becomes yours once more. We’ve teamed up with Logbook Money to offer logbook loans.

Be careful when considering the use of a logbook loan. Your vehicle is at risk if you fail to keep up repayments. And there may be better value loans available to you depending on your circumstances. You can use our Find Loan tool to help you identify these other options.



Logbook Money:


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Apply to Logbook Money

Logbook Money’s Representative Example

Borrow £1,300 for 18 months. Representative 442.66% APR at 120% p.a. (fixed). 77 weekly payments of £46.67 followed by one payment of £46.41. Interest payable £2,340. Total repayable £3,640.

How Logbook Loans Work

The process of obtaining an online logbook loan is more complex than a personal loan. Even so, our lender, Logbook Money, is still capable of making a quick decision and crediting your bank account with the funds within 2 to 24 hours of your loan approval. Once you’ve checked you’re eligible you can follow these four basic steps to get a same day logbook loan online:

Gather your documents

1: Gather Your Documentation

You'll need to provide the v5 logbook, MOT and insurance details for the vehicle. Plus proof of your income (e.g. payslips/bank statements), address (e.g. utility bill) and identity (e.g. drivers license).

Application is processed

3: Application Processed

Logbook Money's adviser will guide you through the process. A representative will visit you to inspect your vehicle.

Receive your money

4: Receive Your Money

Once approved Logbook Money will send the loan to your bank account in as little as two hours.

Do I Qualify for an Online Logbook Loan?

There are a number of basic criteria both you and your vehicle must satisfy to ensure that the chance of your application being accepted is maximised:

  • You must be aged 18 or over and have a UK bank account.
  • You must live in England, Wales or Northern Ireland. Scotland has a different legal system and is outside the realm of logbook loans.
  • You must not be subject to a Debt Relief Order (DRO), an Individual Voluntary Agreement (IVA) or have been declared bankrupt.
  • You need to have sufficient income (from employment, benefits, or pension) to afford to make the weekly loan repayments.
  • Your vehicle must be (mostly) clear from finance or any other loan secured on it.
  • Your vehicle must be road legal (taxed, MOT’ed and insured).
  • You must be the legal owner of the vehicle and its V5 logbook must be in your name.

Logbook Loans Guide

If you’re uncertain which type of credit might suit you or you have a money problem then one of the guides may help you. We summarise each type of loan and its pros and cons and address issues regarding debt and credit ratings.

Got a Question about Logbook Loans?

Answers to Common Questions

Please note: this information is for guidance only. You should clarify the terms of the loan with the lender before entering into an agreement.

How much can I borrow with a logbook loan?

Our lender offers £1,000 to £10,000 loans for the period of 18 to 48 months. With an annual interest rate of over 100%, you do not want to be borrowing for long.

The amount you can actually borrow will depend on:

  • The affordability of repayments, which are weekly not monthly.
  • The value of your vehicle – our lender’s maximum loan will be between 60% and 100% of the vehicle’s value, but subject to affordability.

The typical loan value is in the £1,000 to £1,500 range.

Can I get a logbook loan if I have a bad credit history?

If you have a CCJ against you or have previously got into arrears then this need not stop you from applying for a logbook loan. Given that you are offering your vehicle as security your chances of getting a loan are greater than if you applied for an unsecured personal loan. However, the lender is obliged to ensure you can afford the weekly repayments. All applicants are treated the same regardless of their credit histories. However, if you are bankrupt, on an IVA or a Debt Relief Order your application cannot be considered.

What is a Bill of Sale?

When you use a logbook loan you use your vehicle as security. A Bill of Sale is the legal device that makes your lender the temporary legal owner of your vehicle until you have repaid the loan in full. If you default on a term of the loan (e.g. late payment) then you would be served a default notice. If you do not put right the default then the lender is permitted to repossess your vehicle and sell it to cover the remaining loan amount. It does not have to seek any further permission to do this.

Who is Logbook Money?

Logbook Money Ltd is our logbook loan partner and has operated in the UK logbook loan market since 2011. They are authorised and regulated by the Financial Conduct Authority (FCA) and their firm reference number is 680947. They are based in Leeds and can be contacted at the following address: 6 Kerry Street, Horsforth, Leeds, LS18 4AW. They score 4.5 out of 5 on Trustpilot with 90% of reviews marking the company as excellent or great. Reviews typically talk about great customer service and a smooth application process.

Can I repay my logbook loan early?

Yes, early repayment is available and you can do this without incurring any fees or early redemption charges.

What happens if I can't make my logbook loan repayments?

If your circumstances change and the weekly repayments are no longer affordable then the first thing you must do is speak to the lender. They will work with you to arrange an alternative repayment plan. However, please keep in mind that if you choose not to communicate with the lender then they may choose to simply sell your vehicle to recover the debt. This is fully permitted by the Bill of Sale that you will have signed.



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Written/Reviewed by: Amanda Gillam

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