Logbook Loans
Should you consider a logbook loan in the UK? We explore the issues and offer an alternative.
Pawning your car is a better, safer alternative to a logbook loan.
It does not involve giving up ownership of your vehicle and then having to buy it back from a lender.
Instead, it’s a straightforward loan secured by the value of your car.
So you can access cash straight away – without compromising your ownership of your vehicle.
- No signing over of your V5C logbook
- Fast approval and same-day payment
- FCA regulated (reference number 977396)
- No impact on your credit rating
- Trusted, professional and efficient
Before you take a logbook loan, consider the following:
- approval can be complex and requires submission of payslips and bank statements
- you might still be driving your car but you won’t own it
- if you want your car back, you’ll have to buy it back from the lender
- a logbook loan is usually more expensive than simply pawning your vehicle (because you have to buy back your own car)
- approved loan amounts tend to be smaller for logbook loans than pawn loans.
What’s different about pawning your vehicle with Crown Auto Pawn?
- we offer straightforward asset-based loans – quick, affordable and convenient
- you won’t lose ownership of your vehicle as part of a loan agreement
- you’ll bring your car in and leave with your money; it’s immediate – no complicated application process
- you won’t be able to drive your vehicle for the loan duration (but it stays in your name, in a secure, access-controlled facility)
- you’ll benefit from the security of dealing with an FCA-compliant company.
- Our representative will call you
- Bring your vehicle in for a value confirmation
- Ensure the documentation is correct
- Read, complete and, if happy, sign the agreement
- Funds are transferred into your bank account.
Contact Us
Call us for more information on 0333 344 8507
APR & Loan Repayment Period
Average representative APR 68.3% and 6 months loan.
Renewals
If you wish to renew the loan at the end of the loan period, if we agree and pay you off the interest you can renew the contract immediately.
Collection
All payments are made via EFT or at the end of the loan period.
Representative APR 68.3%
REPRESENTATIVE EXAMPLE
AMOUNT OF CREDIT
DURATION OF AGREEMENT
RATE OF INTEREST
TOTAL AMOUNT REPAYABLE
AMOUNT OF CREDIT
£10,000
DURATION OF AGREEMENT
6 months
RATE OF INTEREST
60% (Fixed) P.A.
TOTAL AMOUNT REPAYABLE
£13,000 (In one instalment)