Logbook Loans with Outstanding Finance
Getting a loan on a financed vehicle
We are often asked 'can I get a logbook loan if my car is on finance'?
And the answer is ......maybe.
If a car is bought on finance, such as a hire purchase (HP) or personal contract purchase (PCP) agreement, the vehicle legally belongs to the finance company until the agreement has been settled and all outstanding repayments have been made.
Even if the logbook (V5 document) is registered in your name, it is the the finance company that legally owns your vehicle, which is why you cannot usually get a logbook loan on a car you do not legally own.
At Elogbook Loan we will always do our best to help in any situation.
If your vehicle has outstanding finance on it, then you might still be able to get a logbook loan on your car from us, but only if the outstanding finance amount is small and your existing finance agreement is coming to an end. In some circumstances you may also need permission from your current finance provider.
Elogbook Loan advantage:
✓ Same day payout
✓ Simple online application
✓ No hidden fees
If you are looking for a logbook loan on a car with outstanding finance, apply online or contact us to see how we can help.
Financed car FAQ's:
You can only have one logbook loan at any one time on a vehicle, but should you need further funds you could apply for a top up, or once the initial loan is repaid, you can then apply for another logbook loan.
FREE LOAN QUOTE
Representative 230.70% APR
Warning: This type of loan is secured on your vehicle. Missed or late payments may incur fees and/or the repossession of your vehicle. This can cause you serious money problems. For help go to moneyadviceservice.org.uk
Representative example;
Loan amount £700 over 36 months. Weekly repayments £17.41. Credit charge £2015. Total amount payable £2715.96. Interest rate 96% PA fixed. Representative 230.7% APR.
All loan applications are subject to a creditworthiness and affordability assessment.