Who can apply for a logbook loan?
Logbook loans are available for car owners who are of legal age and who reside in the UK. Your credit score is not a factor when you apply for a logbook loan.
What are the requirements?
The requirements are pretty basic for a logbook loan application. As mentioned, you just need to have a vehicle registered under name to secure the loan against. As for the document requirements, you’ll have to prepare the following:
- MOT certificate
- Logbook document
- Insurance details
- Valid IDs with photo
- Billing address
- Recent pay slips
- Bank details
Do I need to be employed to be eligible?
Yes, you need to be employed to be eligible for a logbook loan. Other than your vehicle, the other most important requirement when applying for this type of loan is your income. You need to provide proof of steady income to prove you are financially capable to repay the loan.
What types of cars are acceptable?
Jures Loans accept all types and brands of cars provided that it’s free of any financing plan and it’s also less than ten years in age.
What is the maximum amount I can borrow?
Depending on the type of car you own and your income, you can borrow up to £25,000 or up to 70% of your car’s trade value whichever of the two amounts is higher.
Do you run credit checks?
Jures Loans do not run credit checks on borrowers. As a brand dedicated to helping customers with bad credit, we exist to help you find a suitable logbook loan deal to suit your needs.
What if I have a history of CCJs or default?
If you have a history of CCJs or default, you are still welcome to apply. In fact, we cater to customers like you. Partner with us and we’ll help find the right logbook loan deal for your personal circumstance.
How do I pay for the loan?
Payments for your logbook loan can be completed through over-the-counter transactions or through your bank. For convenience, setting up a direct debit automatic arrangement is highly recommended.
When do I receive the money?
Once your loan application is approved, you can expect to receive the money in as fast as 24 hours or less via wire or bank transfer whichever is more convenient for your situation.
Do you offer a free quote service?
Yes, we offer a free quote service. Simply fill out our online form and we’ll tell you how much your loan will cost and how much you’ll have to pay per month.
What happens if I can’t repay the loan?
For instances when you are unable to repay the loan, you’ll have to face the possibility of vehicle repossession. As per the debt agreement and bill of sale document, your lender can repossess your vehicle, which you used as security for the logbook loan.