What is A New Logbook Loan?
The new easy logbook loan from LoanOnYourCar.com is the perfect way to withdraw cash from your car via a same-day cash loan. Using your car as financial security allows you to get a better loan interest rate compared to unsecured forms of credit.
A new logbook loan lets you retain full personal use of your vehicle for the duration of the loan and is secured against your car using a Hire Purchase Agreement (HPA), regulated by the Consumer Credit Act (in contrast to original logbook lenders securing the car against the loan via the Bill of Sale Act of 1882).
What’s more, with a new logbook loan, we’ll never ask you to surrender your logbook or spare key in order to secure the loan.
The trade value of your car will determine the maximum value of the loan, therefore the more your car is worth, the more you can borrow against it.
We also ensure all our borrowers’ monthly repayments are affordable and manageable, in line with their current monthly financial commitments.