BMW 730LD M SPORT
- Market Value: £55,000
- Loan Value: £35,000
Logbook Loans explained
Logbook Loans Review
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If you borrow £1,000 over 36 months at a flat rate of 84% per annum [fixed] with a Representative 204.2% APR you will make 36 monthly payments of £97.98, making a total amount repayable of £3,660.00 including £30.00 document fee and £20.00 Option To Purchase fee. The total charge for credit is £2.660.00. Loan repayment length from 18 to 60 months. The maximum APR is 232.1%.
Your loan is secured against the vehicle and missing payments could put the car at risk of repossession.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk
We’ve arranged logbook loans against all sorts of cars, and even other vehicles, for individuals and for businesses. Providing the vehicle is less than 10 years old and doesn’t have any outstanding finance, you can take out a loan against it. If you are looking for equity release on a classic, vintage, or prestige car, we advise you to contact our colleagues at Verus Capital who are experts at luxury asset equity release.
We do have strict lending criteria, in that you must be the registered owner of the vehicle in question and you must be able to meet the repayments. Our lending requirements are there to protect our clients.
LoanOnYourCar.com offer logbook loans regulated under the Consumer Credit Act 1974 which means we can streamline the whole process of approving you for a loan, whereas other providers still use the Bill of Sale act 1882 which involves a more convoluted process and provides you with fewer legal protections.
Logbook loans are a type of secured loan where you borrow money using your car as collateral. You keep your car for the duration of the loan and can continue to drive it as normal.
Absolutely, that’s what we’re here for. We offer same day logbook loans that mean you can have money in your bank account within hours. The whole process can be done from your home; apply online, speak to one of our agents over the phone to get an agreement in principle, carry out an appraisal of your car (or any other vehicle) via WhatsApp, approve our final agreement via e-sign, and your money will be in your bank account within an hour.
Your loan will be secured against the vehicle and missing payments could put the car at risk of repossession. Warning:Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk
Therefore you need to ensure you understand the total cost of credit and confirm the loan is affordable within your current monthly expenses.
At LoanOnYourCar.com you can settle your loan early penalty-free at any time during the term saving you money on interest repayments. However, before you complete the loan, you are advised to consider the total amount payable over the term of the agreement, including the total interest payable at the end of the repayment period.