Raise money through a loan or car finance?

Quick Guide to raising money through loans and the different types

What are Logbook Loans?

They allow drivers to borrow money against the value of their car or some other vehicle.
Your car logbook(V5C) is held as security for your loan, which means that you can borrow your money really quickly, usually within half an hour.

Logbook Loans are short term loans, up to £25,000 which you then repay over an agreed time of between 1 and 12 months.

Logbook loans are usually paid in cash on the same day you apply, which is perfect in an emergency.

Advantages

Logbook loans are perfect if you have a car and need money fast:

-No credit checks required
Your employment status or credit history is not important
Borrow from £20 up to £25,000
Get your money really fast, usually within 30 minutes
Drive away with your cash on the same day
Flexible loan periods of 1 day up to 12 months
Confidential service

Car Finance
Car Finance
How Do I Qualify for a Same Day Loan?

Your car must be clear of any finance
You must be the legal owner of the car
You must be over 18 years old
You must live in England or Wales
Your employment or credit status is not important to us

Costs and Charges

See individual providers for accurate details on all costs.

When you take out a logbook loan, you can agree a repayment plan with your loan provider. Loan periods can be anything between 1 day and 12 months.

Generally, the quicker you can repay your loan, the less you will have to pay, as interest is charged on a daily or monthly basis.

Raising Money Through Loans
Raising Money Through Loans
How to Apply

Simply select one of our providers and fill in a simple application form.

FAQ’s – Frequently Asked Questions
How long does the application take?
Your application should only take 2 minutes. Simply enter your personal information and the amount you would like to borrow and click ‘submit’.

Do you credit score my application?
No, we don’t need to.

I have a bad credit history, can I still apply?
Yes, your credit history is not important for a logbook loan.

What types of vehicle are accepted?
Cars, vans, motorcycles and more.

When will I get my money?
Usually within 30 minutes, in cash, when you drop off your logbook(V5).

How do I repay my loan?
Repayments can be made by direct debit, cheque or cash. See providers for more details.

What if I have problems repaying?
Don’t worry too much, contact your loan provider and they will be able to help.

Unsecured Loans
Unsecured Loans

What are Unsecured Loans?

Unsecured or personal loans do not require you to provide any security against your loan, such as your car or your house. As you are not providing any security they generally take a little longer to be approved than other loans, such as logbook loans, however their APRs are much lower and allow you to repay over a longer period of time.

You can borrow between £50 and £25,000.

Advantages of Unsecured Loans?

Unsecured loans are perfect if you can wait a few days for your loan to be approved:

Borrow from £750 up to £8,500
No security needed
Bad credit, mortgage arrears or CCJ’s may apply
Lower APR than payday loans or logbook loans
64.4% APR Typical
Repay over a longer period, such as 2 to 4 years

How Do I Qualify for an Unsecured Loan?

Your must be a UK resident
You must be over 18 years old
You need to be employed over 16 hours per week
You must have a bank account which accepts Direct Debit

Unsecured Loan Costs and Charges
Unsecured Loan Costs and Charges

Unsecured Loan Costs and Charges

See individual providers for accurate details on all costs.

Unsecured loans APR is lower than payday loans and logbook loans and can be repaid over a longer period of time. You can borrow between £50 and £25,000.

 

How to Apply for an Unsecured Loan

Simply select one of our providers above, and fill in their application form.
A friendly staff member will get back to you to go over any questions.

 

FAQ’s – Frequently Asked Questions

How long does the application take?
Your application should only take 5 minutes. Simply enter your personal information and the amount you would like to borrow and click ‘submit’.

I have a bad credit history, can I still apply?
Yes, our providers aim to help everyone, even if you have a bad credit history, are in arrears on your mortgage or have a CCJ.

Do I need to provide any documents?
Not at this stage. Simply fill in the application. If documents are required, a friendly staff members will advise you.

When will I get my money?
It usually takes about 5 days to process an application and send out a cheque to your registered address.

How do I repay my loan?
Repayments can be made by direct debit. See providers for more details.

What if I have problems repaying?
Don’t worry too much, contact your loan provider and they will be able to help.

Pay Day Borrowing in the UK
Pay Day Borrowing in the UK

Quick Guide to Pay Day Borrowing in the UK

What are they? What are they used for?

They are short term loans, up to £750, paid into your account on the same day of application – perfect in an emergency. You then repay on your pay day.

They are a quick solution to short term financial problems, which are unlikely to continue month after month.

Definition of Payday Loans

Why get a pay day loan?
They are a great help in a financial emergency and are the easiest and quickest type of loan available, usually without a credit check.

Useful for:

Paying unexpected bills, or when they all come at once
Help with a special occasion such as a wedding or romantic weekend away
Maintaining your car or paying for MOT repairs
Birthdays or Christmas expenses
Dental work costs
Cheaper than paying for banks unauthorised borrowing fees
Anything – it’s up to you!

Can I get one?

One huge advantage is that you can usually borrow money, even with a low credit score, and some providers may not even credit score your application or look into your credit history. Your ability to repay is the most important factor, which is why you must be employed.

You must be:

Over 18 years of age
Employed
Take home over £750 a month after tax
Have a bank account with a valid debit card

Costs and charges

See individual providers for accurate details on all costs.

The charges are usually repaid on the next payday after you take out your loan. If your payday is very close to the date you take out the loan, it may be automatically deferred to your next payday at no additional costs.

Money
Costs and charges
How do I get one?

Advances on your pay cheque are perhaps the quickest and simplest loans available.

Simply select one of our providers above, and fill in a simple application and you will be given an online decision in minutes. Some providers can even deposit money into your bank account on the same day you apply.

That’s a good rundown of how to get a loan and what they are all about in the UK