Need to borrow up to £50,000?
Get a free Logbook Loan quote from LoanWire

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  • Money within 24 hours
  • No credit checks
  • Borrow for any purpose
  • Fast and easy to apply

See If You Qualify Instantly

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Same Day Loans

Get a quote today, and if you’re happy with it you could receive your money today

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Bad Credit OK

Logbook loans have not credit checks, so their ideal if you have bad credit

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Fast Approval

It’s a quick and easy process – you’ll get a quote within minutes

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Any Purpose Loans

Borrow for any purpose you want – no questions asked

  • LoanWire were great! They got me a fantastic quote, and I got the money I needed on the same day. Great service…

    - Peter Hill

We'll find you the best loan, within minutes.

It’s often difficult, or even impossible, to get the money you need – when you need it.

It’s even harder if you can’t pass a routine credit check. In today’s UK economy, most people have had issues with late payments, arrears or defaults, or have been denied loans. Modern computerised systems will usually reject their applications automatically.

And if you need cash immediately? Good luck finding it.

As one of the UK’s longest established logbook loan lenders, we will make sure the loan is suitable and affordable for you and do this in strictest confidence with no complicated forms – guaranteed.

There IS a solution. A logbook loan from LoanWire.

Your credit history and financial situation don’t matter. You don’t need to pass a credit check. It doesn’t matter if you’ve already been refused loans elsewhere.
If you live in the UK we can find you a logbook loan quickly – probably in less time than it will take you to read this page.
In fact, our process is incredibly simple.

There Are Just Three Easy Steps
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Apply

Complete a short form on our site (it should take less than a minute), and you’ll find out instantly if you qualify.

Receive Your Offer

We’ll submit your information to our loan partners and one will get right back to you with their best offer – usually within a few minutes.

Get Paid

If the offer meets your approval, you’ll meet with the lender on the same day, sign the papers and get your money.

Even better, since LoanWire lenders are competing against each other for your business, you’ll get the best amount, rates and repayment terms available anywhere.
And your credit history will never work against you. The lender doesn’t even look at it. No matter what cash flow or debt problems you may have, they don’t affect your ability to get a loan.

How does this all work?

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To put it simply, with a logbook loan (also known as a V5 loan) you’re using collateral (that is, property) in order to borrow money. You “secure” (or guarantee) the loan with the V5 of your car, truck or other vehicle. You’ll then be able to borrow up to £5000 against the current value of your car and can keep driving it as you always have.

During the repayment period, the lender holds your vehicle’s V5 but the car remains yours. When you’ve made all your payments, they return the logbook to you and the transaction is complete. And if you want to repay the loan early, in its entirety, you can settle up on favorable terms.

This type of loan has been common for generations. It’s based on the same idea as your home mortgage or car loan. In those cases, the lender lends you money to buy a house or car, and holds the title to your property until you’ve paid them back. When you receive a logbook loan the lender takes the V5 and a spare key to the vehicle, only for the life of the loan, as a guarantee that they won’t lose the money they’ve given you.

Can I really get as much as £5000?

Absolutely. You can receive anywhere from £500 to £5000 the same day you apply.

The exact amount you’re eligible to borrow will depend on the current value of your car, truck or other vehicle, and your current employment status. That’s because the lender wants to make sure that you’ll be able to repay your loan, and that they’ll be able to recover the amount they’ve given you in the event you don’t make the payments. You can usually borrow between 50% and 70% of the value of your vehicle.

How can I use the money?

You can use the funds any way you choose. Pay off overdue bills, get a CCJ discharged, take care of a family emergency, even go on holiday – your intended use of the money is not considered when you apply for a logbook loan. Just be sure not to borrow more than you can afford, and remember that you’ll save significantly if you make early payments or repay in full before the final installment is due.

Who should consider a logbook loan?

about_pic03For many people, V5 loans are the easiest and fastest way to borrow money. For others, they’re just about the only legitimate way to get fast funds.

You should consider a logbook loan if you’re over the age of 18, need at least £500, own a car and have a job, and if any one of these situations applies to you:

  • You need the money immediately. With a logbook loan, you can receive your funds the same day you apply.
  • You only need the money for a short period of time. Repaying the loan quickly vastly reduces the amount of interest you’d pay if you’d kept the money over a long period of time.
  • You have bad credit. Lenders who participate in our program will never check your credit history and don’t care if you’re in arrears or have had a CCJ. They just want to be sure you’ll be able to make your payments and they’ll be able to get their money back.

Why should I use LoanWire?

We know that the process of getting a loan can be difficult and stressful, particularly if you’re already suffering financially.

That’s why we built our entire business with the goal of making it as easy as possible for you to apply for, and receive, a logbook loan.

Here are just some of the advantages of using LoanWire:

The easiest application process anywhere – it should only take you 60 seconds (or even less) to fill out our short online form to find out if you qualify, and to get the process started.

Apply on your own schedule – you don’t have to worry about appointments during working hours. The application form on our website is available 24/7, so you can submit your information and get your quotes whenever it’s convenient for you.

The best lenders – we only work with loan providers who are motivated to offer the most competitive and best terms possible. We won’t work with anyone who is trying to gouge customers by increasing their interest rates above customary V5 loan levels.

No credit checks – our lenders do not look into your financial history or ask any embarrassing questions. Even if you’re dealing with CCJs, arrears or defaults, that’s not a problem for us or our loan providers.

Free, no-obligation quotes – after you’ve successfully applied, a loan partner will contact you within minutes to offer you a logbook loan, complete with amounts and terms. You’re free to accept or decline the offer.

Same-day funding – if you accept a loan offer, you can sign the documents and get your money within hours of applying.

Flexible payments – the lenders we work with have agreed to offer either monthly or weekly repayment schedules, depending on your preference.

We pride ourselves on having streamlined the entire process, giving you access to the fastest, easiest and best logbook loans available anywhere.

Why not take a different type of loan?

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Many different types of loans are available – if you can qualify for them, and if you don’t mind complicated application processes, long waits or small loans.

Regular bank loans are terrific for those who can get them. Unfortunately, most people can’t. Banks are rejecting more loan applications than ever before, even from qualified customers. And of course, if your credit report isn’t pristine, this isn’t a realistic possibility.

Second mortgages are an option for some, but are extremely complicated to obtain and can obligate you for as long as forty years. Again, if you have had credit issues, they’re out of the question.

Payday loans are fairly easy to get if you have a job, but you usually can’t receive more than £500 at a time. For most people facing a cash crunch, that’s just not enough.

Pawnbrokers can provide quick money, but not many people have “unneeded” possessions which can easily be pawned for more than a few pounds.

That’s why, for the right people, logbook loans are the perfect answer to a cash flow problem.

What do I need to qualify?

The good news is that you probably already qualify for a logbook loan. Here’s a quick summary of what your LoanWire lender will require:

1. You must have a job. They’ll want to see several months’ worth of pay stubs, payslips, or other proof of the income you receive regularly from your employer. This allows the lender to verify that you have regular employment and determine how much of a loan you can afford to repay.

2. You must own a vehicle. Lenders prefer that it isn’t more than ten years old, and that it is either clear of finance or very close to being paid off. The type of vehicle and its condition will also factor into how much of a loan you can receive. You’ll also have to show current insurance and MOT certificates before receiving your money.

3. You have to be over 18, and able to prove who you are and where you live. Your lender will want to see a photo ID and several months’ worth of utility bills; that’s just to make sure you’re a legitimate borrower.

That’s all there is to it. Basically, if you have a job and a car, you’re eligible for a logbook loan.

Do I have to make a presentation to the lender?

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You don’t have to anything special once you’ve filled out the form on the LoanWire site and accepted an offer from the lender, since you will have already given them all the information they need. Their representative will meet with you (usually at your home), inspect the car and the documents mentioned in the last section (such as your ID, pay stubs and insurance/MOT certificates), explain the loan paperwork and answer any questions. Just sign the paperwork and you’ll have your money within a few hours.

What happens to my car?

Not a thing. Your vehicle is still yours to drive as you please and you remain the registered keeper, with the registration certificate still issued in your name.

The lender will keep your V5 (and a copy of your car key) until all of your payments are made – that’s so they have collateral for the loan they’ve made. They will not keep your car; in fact, they don’t want your car. They only want to be sure they have some recourse if you’re unable to repay the loan, and they will only repossess your vehicle as a last resort. If you do run into financial difficulties and can’t make a timely payment, be sure to contact the lender immediately to work out alternative arrangements.

Since you still own the vehicle, you remain responsible for all costs of owning and operating it, including MOT and insurance, road fund tax and maintenance. Don’t worry about not having the V5 when you receive your road fund tax V11 notification; you won’t need the V5 to make your regular payment at the post office or online.

What does all this cost?

As you’d probably expect, logbook loans cost more than traditional loans and carry a higher interest rate. You do pay extra for convenience, speed and the fact that your credit background won’t matter. All of the information pertaining to your loan, including APR% and fixed annual interest rate will be explained to you when you receive your offer, and explained again before you sign any documents.

If you have a perfect credit history, solid income and assets; if you don’t mind lengthy application and approval processes; and you can wait a while for your money – a bank loan would probably be a less expensive choice.

However, if you have credit or financial problems (or have had them in the past); or if you’re looking for nearly-instant approval, flexible repayment plans and quick money – a logbook loan may be the perfect answer for you.

All that’s required is a job and a car, and you can get started right away with LoanWire’s 60-second application form.

You could even have as much as £5000 in your pocket by the end of the day. It’s free to apply, and there’s absolutely no obligation whatsoever.