FAQs

Who is eligible for application of a logbook loan?

Anyone who lives in the UK and has attained the legal age is welcome to make an application of a logbook loan. You must own a vehicle registered under your name, which will serve as security or collateral for the loan.

Do I need to be employed to apply?

We require all our applicants to be employed with sufficient income to be eligible for a logbook loan. You will be required to provide your latest pay slips to prove that you are financially capable to handle the monthly repayments.

What car models are acceptable as collateral for a logbook loan?

We accept all types and makes of cars. Just make sure that it’s registered under your name and it’s less than ten years old. The car must also not have any financial attachment to it.

What is the minimum and maximum amount of money I can borrow?

The maximum amount you are eligible to borrow is dependent on your vehicle’s value but is usually capped at £50,000. The minimum is £500. The newer the vehicle and the higher its value, the higher the loan amount you can apply for, usually up to 70% of the cars value.

Do you have a high approval rate?

With the help of our partners and our team of specialists, NFTU Loans has one of the highest approval rates in the market. If you choose deals based on our recommendations, you can expect to get approved fast.

Why are your logbook loans cheaper than other providers?

We offer cheaper logbook loan deals because we have key partners in the market that allows us to do so. We work hand in hand with leading providers allowing us to give you access to a wide variety of loan deals.

What are the requirements to get a loan?

To avail a logbook loan, you only need to meet our basic set of requirements. You must be a car owner of legal age residing in the UK. You’ll also need to provide the following documents:

How do I pay for the logbook loan?

You can pay for the loan in different ways. You can do it over-the-counter or you can follow what many borrowers do. You can set up an automatic debit deduction arrangement via your debit card. This way, you won’t need to miss or delay a payment. You can also set it up bi-weekly or monthly.

What will happen in the unlikely event I cannot afford the payments anymore?

In a situation where you can no longer keep up with the payments, you need to contact us right away. We can adjust your loan terms accordingly to make it easier to you to repay the loan. Failure to contact us within the designated time frame may lead to vehicle repossession. To avoid repossession, it’s best to contact us right away with regards to payment issues.

Do you run credit checks?

We don’t run credit checks on our customers. Because we specialize in logbook loans, our main market includes borrowers with bad credit scores. We offer affordable solutions to your immediate financial needs.