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Aug 15

All you need to know about what you require to be accepted for a logbook loan

Posted by:Rebecca Langley

accepted for a log book loan
Sometimes, we all need a helping hand when it comes to our money and finances. What would you do if your boiler broke down, you needed urgent repairs, or you needed to buy a new laptop for work purposes, for example? 

Sometimes we just don’t have the spare cash and are left wondering what is going to happen next.

Short term lending could be right for you – in particular a log book loan.

A log book loan is a short term loan that is secured against your car, freeing up some much needed cash for life’s emergencies. Based on the value of the car, we can offer you between £250 and £5,000. 

What do I need?

First of all, you need to be 18 years of age or older, and own your car. This car needs to be clear of any other financial agreements. It is also important to have up to date wage slips, income and expenditure information, and a bank account that the funds can be paid into.

The friendly team at AutoMoney will be sure to go through the lending steps with you, checking your eligibility with regards to your personal circumstances and advising how much could be available for you to borrow.

You can partially complete the application online and then pop into your nearest store with your documents, or just complete the whole process in store. 

What should I expect?

You should allow a decent amount of time for your application, both in store or online and also be prepared to speak honestly when it comes to your finances. It is important that you are honest with your application, to save any potential delays or embarrassment.

My credit history isn’t great!

Don’t worry – we are willing to consider all applicants, regardless of credit histories; including defaults, CCJs, and bankruptcy. Although we cannot guarantee that your application will be successful, or that we will be able to offer you the amount of money that you require, we are happy to consider your application. Simply put, having a bad credit history is not an automatic “no” from us! 

If you think a log book loan might be right for you, pop into one of our shops today and speak to our friendly team, or call us on 08000 28 27 26

Borrow with confidence

Borrow with confidence

We are PROUD MEMBERS of The Consumer Credit Trade Association. AutoMoney were forerunners in the creation of The CCTA Lending Code of Practice and we adhere strictly to its principles. Click here to view. ALWAYS MAKE SURE THE LENDER IS A MEMBER.

350.5%APR Representative
Representative example: Loan amount £1000. Duration 18 months. Repayable by 16 monthly repayments of £170.42 and one of £198.42 (includes Bill of Sale registration fee of £28) commencing two months from the date of the loan. Total amount repayable £2925.14. Rate of interest 187% per annum fixed. Representative 350.5%APR. LOANS ARE SECURED ON YOUR CAR. The vehicle may be repossessed if you do not keep up the repayments.