Frequently Asked Questions

Got a question? We will try and answer.

We’ve learned a lot over the years so if you can’t find an answer to your question below, just call us on 0808 132 1001 and we’ll be happy to help!

Here are the answers to some of your most frequently asked questions…

Q. Do I need a perfect credit history to get a logbook loan?
Q. Can I get my loan today?
Q. I’m self-employed...can I still get a loan?
Q. What age can my car be?
Q. Do you keep my car during the loan?
Q. Do I need to have a bank account?
Q. How do I tax my car?
Q. Can I repay my logbook loan early?
Q. How do I make repayments?
Q. What happens if I'm struggling to make a loan payment?
Q. What is a ‘Bill of Sale’?
Q. What is the FCA?
Q. What is the CCTA?

Q. Do I need a perfect credit history to get a logbook loan?

A. No, each application is treated on its own merits so it is still possible for you to get a loan even if you have had some credit issues in the past.

Q. Can I get my loan today?

A. We pride ourselves on providing logbook loans within 24 hours of application (subject to suitability and affordability) – many loans are actually paid out within 60 minutes of approval.

Q. I’m self-employed...can I still get a loan?

A. Yes. You will need to provide proof of income using either your accounts, recent bank statements or income tax returns.

Q. What age can my car be?

A. Ideally it will be under 10 years old but we can lend against older cars  depending on the trade value.

Q. Do you keep my car during the loan?

A. No, you keep, drive and maintain your car as normal, we just hold onto the logbook whilst you are repaying the loan.

Q. Do I need to have a bank account?

Yes. We will transfer your funds directly into your account.

Q. How do I tax my car?

A. You can renew the tax online without the logbook using the DVLA tax reminder, however if you need the vehicle documents just get in touch. Call us on 0808 132 2020.

Q. Can I repay my logbook loan early?

A. Yes. We encourage overpayments where affordable as they can reduce the amount of interest you pay on your loan.

Q. How do I make repayments?

A. You can pay by debit card or pay cash into any branch of NatWest. We can also use CPA’s (“Continuous Payment Authorities”) but we do not accept payments by credit cards, cheques or direct debit.

Q. What happens if I'm struggling to make a loan payment?

A. If this is the case it is really important that you contact us as soon as possible. The worst thing you can do is ignore the situation. We will do everything we can to help such as discussing options such as payment plans and arrangements (also known as “forbearance options”). We want to help you and repossession of your vehicle is always a last resort.

Q. What is a ‘Bill of Sale’?

A. A Bill of Sale is a document we apply for that gives us security over your vehicle. The Bill of Sale is registered with the high courts of London.

Q. What is the FCA?

A. The Financial Conduct Authority (FCA) regulates the financial services industry in the UK. Its aim is to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers.

Q. What is the CCTA?

A. The CCTA stands for the “Consumer Credit Trade Association”. The Consumer Credit Trade Association audits all logbook lenders who sign up to its Code of Practice.

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