- LogBook Lenders supply logbook loans to the residents of England and Wales. This is somewhat limited compared to some other providers who supply loans all over the UK.
- Their representative APR is 464.4% which is slightly higher than the typical industry rate of 461.6%. For example, the monthly installment of an £800 loan taken out for 18 months is £134.11. If you wish to pay less, you should make your loan period shorter, or consider an early settlement as they have no early settlement penalty.
- The loan amounts available range from £200 to £25,000. While they are a good option if you require a loan smaller than £500, their maximum available amount is quite a lot smaller than that of a number of other logbook loan providers.
- Their online application form does not appear to be secure.
- They have same day delivery and they promise that you will get the money within 1 hour.
- They do not credit check their customers.
- They require the borrower to provide the logbook, car insurance details, evidence of income and identity, and two recent utility bills.
- Their eligibility criteria are typical: you need to be over 18 years of age, legally owning a car which is clear or nearly clear of finance. The car should not be older than 10 years.
- The repayments can be made by debit card, standing order, bank payment, cash or cheque. It is possible to pay directly into their branch.
