Your Logbook Loans Questions Answered

A logbook loan is a type of secured loan on car where you borrow money against car ownership while keeping full use of your vehicle. You provide your car's logbook (V5C document) as security, and the lender places a temporary claim on your vehicle until you've completed all logbook loan repayments. Once repaid, ownership reverts entirely back to you.

When you take out a car logbook loan, you use your vehicle as collateral to borrow funds, typically between £500 and £50,000 depending on your car's value. You continue driving your car throughout the loan term while making regular logbook loan repayments. The lender holds legal ownership temporarily, but you retain possession and full use of the vehicle until the loan is fully repaid.

Yes, absolutely. With loansagainstyourcar products, you maintain full use of your vehicle throughout the entire repayment period. Unlike selling your car, logbook loans allow you to access cash while continuing to drive to work, run errands, and maintain your daily routine without any interruption to your lifestyle.

A secured loan on car uses your vehicle as collateral, which typically allows for larger loan amounts and potentially better rates compared to unsecured options, especially for those with challenged credit. Unsecured loans don't require collateral but often have stricter credit requirements and lower borrowing limits, making loans against your car more accessible for many borrowers.