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Logbook Loans Scotland

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Loans from £500 - £100KNo logbook or credit check requiredCash in 1 hourNo set up feesSettle early penalty free

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Prefer to speak with someone? CALL 0333 577 5000

Representative APR 204.2%

Representative Example:

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 £3,690.00 including £30.00 document fee and £50 Option To Purchase fee. The total charge for credit is £2.690.00. Your car is at risk if you fail to keep up repayments.

Loan repayment length from 18 to 60 months. The maximum APR is 389.1%.

The loan on your car will be subject to affordability, suitability and the provision of a final assessment of income and expenditure.

Logbook Loans Scotland

What is Vehicle Equity Release?

Vehicle Equity Release is a cash loan that lets you borrow against the value of your car. It is a fairer, simpler and quicker alternative to a logbook loan. In contrast to traditional logbook loans, you do not need to surrender your logbook or car keys. You can complete your application exclusively online, without the requirement of a face to face meeting.

LoanOnYourCar is a direct lender that embraces digital technology in all stages of the application process, rendering this loan the fastest way to get your funds within the same day. You sign forms electronically, have your car inspected through a video-call and receive an affordability assessment remotely.

Besides, vehicle equity release protects you much more than a traditional logbook loan as it operates under the latest legislation, the Hire Purchase agreement. On the other hand, logbook loans still work with the Bill of Sales, which is an outdated form of law.

Vehicle Equity Release does not require a credit check but just an affordability assessment to protect both you and the lender equally. The evaluation is a simple digital process, making this type of no guarantor loan a very discrete choice as well.

About LoanOnYourCar

LoanOnYourCar is a non-bank direct lender operating under the supervision of the Financial Conduct Authority (FCA) and accredited by the Consumer Credit Trade Association (CCTA). This loan provider is the biggest in the United Kingdom offering this advanced solution to people who need a secured method to get cash quickly. Vehicle Equity Release is a safer and fairer alternative to traditional logbook loans.

With a combined experience of over 30 years and leadership in the consumer credit and finance industry, LoanOnYourCar is one of the most trusted companies in the non-bank lending sector.

We are an entirely digitised business eliminating the need for an agent visit. We handle everything remotely, securely and quickly through e-signature features, video-call car inspections, electronic document transmission and remote affordability evaluation. No home visit is required.

We welcome your call to our expert team at 0333 577 5000 for a no-obligation quote, or you can apply online and get an offer within minutes.

Why go with LoanOnYourCar in Scotland?

Are you looking for a logbook loan in Scotland? Our Vehicle Equity Release could be just what you need to get the security you want for a loan, at a competitive rate. Whatever you need the loan for, we make it quick and hassle-free to apply. Simply give us your Reg Number for an instant decision. In most cases, you can have the money in your bank account within an hour.

At LoanOnYourCar.com, we provide Logbook Loans throughout Scotland to customers in all our major cities including;

● Glasgow

● Edinburgh

● Aberdeen

● Dundee

● Inverness

● Perth

● Sterling

● Paisley

● Falkirk

● Cumbernauld

● And much, much more

What are you waiting for? Take advantage of our logbook loans which are perfectly tailored to the needs of customers in Scotland.

What is a Logbook Loan?

If someone has recommended you take out a Logbook Loan, but you’re not quite sure what they are or how they work, we’re here to explain for you. So you can make an informed decision while in full possession of the facts.

A Logbook Loan is a form of finance that allows you to use your vehicle as security on a loan. They’re popular because they leverage your existing security- something that not all of us are able to do, especially if we don’t own our homes.

Why choose a Logbook Loan alternative in Scotland?

Logbook Loans can help to lift the traditional borrowing constraints around most unsecured personal loans. Many of our customers find that they’re able to borrow more or get a better rate of interest than with other finance products. They are particularly advantageous for those who have less than stellar credit ratings and either cannot get access to consumer credit or only have access to products with exorbitant repayment rates.

Unsecured loans are more costly for lenders. They face a greater range of legal and administrative expenses when chasing up borrowers who make late payments or fail to pay the loan back. Logbook Loans are secured against your vehicle, so the lender saves money. As a lender, we can then pass those savings on to you in the form of better rates.

How do Logbook Loans in Scotland work?

The application is simple. All you have to do is tell us;

● Your vehicle Reg Number

● Your vehicle’s mileage

● How much you wish to borrow

● Your name and contact details

As long as you’re over 18 and the vehicle’s legal owner, we’ll be able to provide you with a zero-obligation quote. With loans from £500-£100K, we can give you quick and easy access to the cash you need.

Need the TL:DR version? Not to worry! We’ve made a short video which shows how we can help you;

The process is much like pawning your valuables. When you leave your belongings in a pawn shop, you are paid the money and your goods stay with the pawnbroker until your loan is repaid. A Logbook Loan is similar. Except, of course, we won’t come to collect your vehicle, nor will we sell it to a third party.

Can I still drive my car, bike or van?

Of course! That’s the beauty of Logbook Loans in Scotland. You can still continue to use your vehicle for your daily commute, your school run or spending your free time traversing Scotland’s incredible cities and the natural beauty of her highlands and lowlands. The only thing that’s changed is that ownership of the vehicle has been temporarily transferred to us until the loan is repaid. The only thing that’s usually retained is the vehicle’s logbook. Hence the name. However, unlike other lenders, we allow you to keep your logbook!

How are Scottish Logbook Loans different to English or Welsh Logbook Loans?

Not all Logbook Loans are compatible with Scottish laws. Many UK Logbook Loan lenders structure the loan as an antiquated Bill of Sale which is not legally recognised in Scotland. We, however, offer the loan as a Hire Purchase Agreement in line with Scottish finance regulations.

What’s the difference?

The Hire Purchase Agreement on a Scottish Logbook Loan is recorded on your credit report, while a Bill of Sale is only logged against the vehicle. This means that when your Scottish Logbook Loan is repaid in full it will benefit your credit rating. You will be able to apply for another Logbook Loan in Scotland or perhaps other forms of credit to which you were not previously entitled.

However, for this reason, we would also advise against applying for too many Scottish Logbook Loans as this may have an adverse impact on your credit rating.

Why choose us for your Logbook Loan in Scotland?

Because Scottish finance laws differ subtly to the rest of the UK, not all national Logbook Loan providers will provide a product which is suitable for Scottish customers. Fortunately, our Vehicle Equity Release product is fully compliant with stringent Scottish finance regulations, meaning that customers all over Scotland are safe and protected. We’re regulated by Financial Conduct Authority and a proud member of the Consumer Credit Trade Association offering you complete peace of mind.

As well as being 100% complaint with Scottish law, our Logbook Loans have a number of other benefits that so many other lenders are lacking;

Generous loans tailored to your needs

We will typically lend you up to 50% of your vehicle’s value. We’re usually able to offer far more generous amounts to car owners than they might be offered on a credit card or an unsecured personal loan.

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