What is a logbook loan?

A logbook loan is a type of loan, whereby you keep your car as the collateral. As a result of this clear-cut requirement, pretty much anyone and everyone with cars can get access to these loans.


Is logbook loan a secured loan?

Yes. When you take up a logbook loan, you secure your loan by pledging your car as collateral. Doing so involves handing over the logbook of your car, which is where it derives its name.


How is it secured if I get to keep my car?

When you receive the loan money, you handover the logbook of your car, and thus its temporary ownership. We do not ask to possess your car as it would be very inconvenient for you. Therefore, although you do use the car, the documents remain with your lender.


Who evaluates my car?

When we arrange a meeting with you, our experts pay you a visit to evaluate the market value of your car. These individuals have been in this business for years and take into account several different factors to ensure that the estimate is as accurate as possible. Some of them work with the leading loan providers like Barclays.


How much can I borrow?

The amount of the loan will depend on the car you choose to put as collateral. Once our representative evaluates the market value of your car, he makes you an offer based on this value. The amount of loan would, thus, be a fraction of the estimated market value.


My need for funds is really urgent, what should I do?

One of the best things about our logbook loans is that they are not just easy to get access to, but there is also minimal wastage of time. The time frame from when you have submitted your application to when you have got hold of your loan is very short and we are proud to keep it that way. Therefore, if your need for funds is urgent, you are certainly at the right place. Fill in our online application and let us do the rest.


Which car can I use?

If your car has market value, it is probably eligible to be used to get our logbook loan. However, it must not have any existing finances on it, and should be entirely insured. Pretty much every car that meets this criteria is eligible.


I do not have an impressive credit rating, will my application be denied?

No. Our logbook loans are very bad credit friendly, and by this we mean that if you are securing your loan using your car, we trust you enough to not pay too much attention to what you have done in the past. Therefore, instead of being reluctant, get involved. You'll never know until you try.

<
p style="text-align: justify;">What if I want to settle early?

If you wish to settle accounts early, there is absolutely no cost of doing so. As soon as you are able to do so, all you have to do is let us know and it will be so.


What if I miss a few payments? Will my car be seized?

NO. At Norfolk Logbook Loans, we realize that there may be factors beyond one's control that could severely affect the financial standing. If there is something that prevents you from meeting payments, all you have to do is let us know. We are understanding and value honesty above all else. The part where we seize the car is very seldom reached. Your car will stay your car as long as we see your trying your best to meet your payments. Therefore, you need not worry one bit.


I am undecided, what should I do?

The best way to get to know more is explore our websites and decide for yourself. Another way would be to contact us directly to let us know what you think and shoot whatever questions you may have. We will ensure that your queries are well responded to and that you finally come to a decision.

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