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New Logbook Loans: How It Works

See how it works

What is A New Logbook Loan?

The new easy logbook loan from 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.

Who are we? is the UK’s leading FCA-Regulated logbook loan lender - a direct lender and not a broker. We provide swift and secure solutions for people looking to raise short-term finance from their vehicles.

How much can I borrow with a new logbook loan?

Completing a new logbook loan application from is a fast, secure and cost-effective option for when you need cash quickly.

Our easy loans range from £500 - £100,000 with up to a maximum of 70% of your cars trade value. The loan will be subject to you completing an affordability assessment and credit check.

Loan rates are from 6%-10% per month and we provide flexible loan terms from 12 – 60 months.

How Does the Application Process Work?

We complete all applications online with no home visit. We’ll even complete the car inspection via WhatsApp and we aim to finalise the loan the same day and transfer the cash into the borrower’s account.

Settle Early, Penalty-Free

A new logbook loan can be settled early at any time during the term, 100% penalty-free, saving you money on interest repayments. You can request a settlement figure at any time, which will be valid for 28 days. The interest will stop accruing when the settlement figure is paid.

Overpayments Allowed

With, you can make an unlimited number of capital overpayments. On receipt of a capital overpayment, we’ll automatically reduce the original loan principal by this amount and the new loan repayment is then recalculated and starts from the next payment due date.

Who is Responsible for the Car?

Under the terms of the agreement, all borrowers must tax, comprehensively insure and maintain their vehicle for the duration of the loan. Borrowers are not allowed to sell the vehicle without our prior approval.

Can I Get a Logbook Loan if my Car is on Finance?

Yes! Not only will we consider logbook loans for cars on finance, but if you switch an existing loan from another logbook loan lender or finance company, we will reduce your loan repayments by up to 10%!

In addition, we may even be able to top-up the loan subject to standard affordability and car value checks.

To do this, your existing finance settlement figure will be added to your new logbook loan amount. Upon the loan’s completion, the additional funds are used to pay-off the remaining finance and the balance will be issued back to you.

New Logbook Loans: Key Facts

How does the loan work?

  • Loan amounts from £500 - £100K
  • Loan terms from 12 – 60 months with monthly repayments
  • Borrow up to 70% of the vehicle trade value
  • Loan is secured on the car via Hire Purchase Agreement
  • Retain use of your car for the duration of the loan
  • Loans are subject to an affordability assessment and credit check
  • Interest and capital repayments
  • Overpayments allowed - the interest is then re-calculated
  • Settle early, 100% penalty-free
  • Applicable throughout the UK
  • Application completed online and no home visit required
  • Cash in bank same day
  • No hidden fees or charges

Is my car suitable?

  • Vehicles must be under 10 years old
  • Prestige, classic and vintage cars considered
  • Personal cars only [no company cars allowed]
  • Max. 150,000 mileage.
  • Cars must be free of finance [we can clear existing finance agreements if required]
  • Minimum trade value of c.£2.5K
  • No additional keeper added to the logbook
  • Vehicle must be fully taxed, have a valid MOT and be fully comprehensively insured
  • Logbook and spare keys are not required

Ready to Proceed or Got A Question?

  • Enter your vehicle registration for an immediate decision in principle; or
  • Call us on 0333 577 5000 and speak to one of our expert loan consultants. We can offer advice on rates, repayments and our terms & conditions.

Thank you for your interest in and we look forward to hearing from you very soon.

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 £3,660.00 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