What if I already have finance on the car?
A logbook loan is not a suitable solution if you already have outstanding finance on your vehicle. A loan application under these circumstances is unlikely to be successful. If, however, the finance is close to being repaid in full it may be worth getting in touch with a lender to discuss your options.
Are old cars accepted?
Cars generally have to be less than ten years old to be accepted as collateral for a loan. There are exceptions and some lenders do offer logbook loans for older cars that are in good condition or are still valuable despite their age, so it is worth enquiring whether yours will qualify. The value of the vehicle will determine the amount you can borrow.
How can I find the cheapest logbook loans available?
Direct lenders offer a wide range of deals and it is important to shop around to find the one that is best for you. Logbook loans APR in particular can vary enormously so be sure you know exactly what your repayments will be, how many repayments you will have to make and the total amount, with interest, that you will have paid at the end of it.