Logbook Loan Calculator
Estimate the repayments for a loan secured against your vehicle. Logbook loans allow you to borrow based on your car's value, but come with higher risks and rates.
What is a logbook loan?
A logbook loan is a type of secured loan where you use your vehicle's logbook (V5C registration document) as collateral. You can still drive the vehicle, but the lender effectively owns it until the loan is repaid.
How much can I borrow with a logbook loan?
Lenders typically offer between 50% and 70% of your vehicle's current trade-in value.
What are the risks?
If you fail to keep up with repayments, the lender can repossess your vehicle without a court order. Additionally, logbook loans often have much higher interest rates than standard personal loans.
How is the interest calculated?
Interest is typically calculated monthly on the remaining balance. Because the APRs are high (often 200%+), the total cost of credit can be significant.