WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. RATES FROM 45.3% APR TO 1575% APR FOR HELP, GO TO MONEYADVICESERVICE.ORG.UK

The Very Best Loans with Loantra

Short-Term Loans

Apply Today to Borrow up to £995

*Online decision

*Responsible lenders

*Rates from 278% to 1576%

*3-12 month repayment

Personal Loans

Apply Today to Borrow up to £25,000

*Instant Decision

*60-Second Application Form

*Rates from 4.7% to 278%

*3-36 month repayment

What Loantra can do for You

Are Logbook Loans Safe?

A logbook loan is a loan where you give up ownership of your car to a lender as security for a loan. You hand over the logbook or registration to the lender, and they will hold onto that until you repay the loan. If you fail to repay the loan on time, then the lender takes control of your car as well as ownership. In many cases, you can continue to keep driving your car while you have taken out a logbook loan, but you have to be prepared to give up your car in the event that you cannot pay back the loan in a timely manner.

The Risk

Of course, you are at risk for losing your car. That’s why these loans are so dangerous for many people. There are times when the risk is reduced, but the chance always exists that you will lose your vehicle. You have to accept that and be prepared to deal with that consequence, no matter how sure you are that you will repay the loan according to the terms of the loan agreement.

Certain factors increase your risk too, and you need to be aware of them. If you do not have steady income, then your finances could endanger your chance of getting back ownership of your car. If you cannot rely on money to come in regularly, then your risk is much higher than that of someone with a stable income.

If you have very little money left over each month after you pay your bills and meet your financial responsibilities, then you also have an increased risk. There is a chance that something will come up and there will be some expense that you need to pay, and you will no longer be able to pay your loan on time.

Who Should Take Out Logbook Loans?

Because of the risk involved, logbook loans definitely are not for everyone. They may be one of the few options open to you when it comes to lending choices, but that doesn’t make them a good option. If you have several vehicles and losing one would not greatly inconvenience you, then a logbook loan seems like a logical choice. You can put down the car as collateral without risking too much. If you can afford the lose your vehicle for whatever reason, then a logbook loan isn’t going to pose much risk to you. Maybe you were already looking to buy a new car or you really don’t need the benefits that owning your own vehicle brings you, since you could easily take public transportation or get to where you need to go without much trouble. In these situations, losing a car isn’t a big risk, and a logbook loan makes sense. Not everyone is in these luxurious positions, however, and if losing your car is going to greatly inconvenience you or make it impossible for you to get to work, then you need to reconsider. Look at your other options and see if there is a better choice for you than a logbook loan.

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
CUSTOMERSCORES
Good
Apply Now

Show More ▼

Loan amount
£500 - £100,000
Loan term
1 - 18 Months
CUSTOMERSCORES
Excellent
Apply Now

Show More ▼

Loantra is a licensed credit broker and not a lender.

We will never charge you for our service and the lender will not increase the rate to cover our fee to them.

We work with over 40 different lenders to bring you the very best rates from across the UK market.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.

Total amount repayable is £561.92 in 3 monthly instalments of £187.31.

Interest charged is £161.92, interest rate 161.9% (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.

Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.

Any collateral you have against the amount may be at risk of repossession.

5 most recent personal loan reviews

Review of Natwest

My personal loan from NatWest was planned in advance because I like to do plenty of research before committing to something as important as a building extension. I wanted to make sure the loan would be possible and that it was at a competitive rate before I started employing architects and builders. I was in regular contact with our local branch’s loan adviser and they finally sorted out a very good loan for me and once that was agreed I got on to the job of planning this extension. We’d already had the go ahead from the local council so it was all systems go once that all important loan was finalised. Sometimes it’s best to deal with your own bank for such an important loan and I am pleased that I entrusted NatWest with my loan.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of U Switch

In our position your company treats us well. We have the income but unfortunately due to circumstances beyond our control our credit rating is bad. Thank you Uswitch for giving us a chance.

Review posted by Neil Morrison, Perth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wonga

Suprised at ease of application. Never wanted to use these kind of things but had a very tough month and needed a few pounds before payday. After checking different options I found the small amount to payback manageable and it’s all payed back 2 days after payday. Easy process with quick response.

Review posted by Anthony Bell, Chelmsford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All reviews have been sourced from Trust Pilot to ensure authenticity of testimonials.