A Great Logbook Loans Alternative.

Logbook loans usually require you to transfer ownership of your vehicle to a lender. This then acts as security against any money borrowed. The customer continues using the vehicle for the duration of the loan. They can do this as long as they are making the repayments on time. Once the loan is repaid in full, the lender transfers ownership of the vehicle back to you. Payday loans can offer a safer alternative to logbook loans, as you are far less likely to find yourself without a car.

All loans from reputable and regulated lenders require a full credit check before any funds are released. Some companies may say they don’t perform a credit check, especially if you’re putting a vehicle up as security, but be wary of this promise, as it’s a compulsory requirement of the FCA (Financial Conduct Authority). Lenders perform a soft credit check to check your eligibility against their criteria, but this leaves no lasting mark on your credit report. A full check is only performed if you accept a loan offer.

You can find out if you’re eligible for a payday loan quickly and securely. Applying with Payday UK’s broker doesn’t take long, and you’ll get an instant decision. If you accept the loan offer, the money will be in your bank account the same day.

Our brokers panel offer loans from £50 to £5000. You can apply to borrow these amounts or anything in between, and select a repayment length that best suits your circumstances. Most borrowers choose to repay small loans over a shorter period, while those borrowing more significant amounts repay them over a more extended period.

When you apply to borrow money via Payday UK’s broker, the loan will be unsecured, or there will be a guarantor. If you miss a repayment, you should speak to your lender and make arrangements that help you to solve the problem. If you have a guarantor, your lender might approach the guarantor to request payment if you fail to pay and are unresponsive.