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Do you need quick cash but has bad credit to worry about?

FAQS

Who is eligible for a logbook loan?

To be eligible for a logbook loan, the eligibility criteria are pretty basic. You must be of legal age (18 years old or above). You must be a UK resident. And finally, you must be a vehicle owner. As long as you meet the requirements, you can apply for a logbook loan even if you have a poor credit score.

What are the documents needed to apply for a logbook loan?

To guarantee fast processing, applicants are recommended to prepare the following documents beforehand: vehicle’s logbook document, MOT certificate, insurance details, proof of identification, proof of income and billing address.

Do you require customers to disclose the reason for the loan?

No, we do not need customers to tell use the reason for the loan. Whether you want to use the money to pay for overdue bills, medical expenses or for a vacation, you can use it any way you want.

Do I get to keep my car?

Yes, you get to keep and still use your car when approved for a logbook loan. We will only need your car’s logbook document. Remember though that temporary ownership of your vehicle is transferred to us until the loan is fully repaid.

Do I need to be employed to apply?

Ideally, you need to be fully employed to be eligible for a logbook loan. SE Loans, however, has flexible terms. If you’re working part time or is self-employed, you can still apply provided that you can give us proof of steady income.

Can I still apply if I have a history of default or ccjs?

If you have a history of delayed or missed payments, defaults or ccjs, you can still apply for logbook loans. In fact, our offers are especially for borrowers like you. We do not run credit checks on our applicants so your credit score is not really a factor.

What types of cars do you accept?

We accept all types and makes of cars provided that it is less than ten years old and is free of any financing. You can borrow up to 70% of your car’s official trade value.

How fast can I receive the money?

When approved for a logbook loan, you can expect to receive the money within 24 to 48 hours. The money will be transferred to your bank account.

How do I pay for the loan?

To pay for the loan, we will set up an automatic direct debit deduction arrangement prior to approval. Make sure you always have sufficient balance on your account to avoid incurring penalties and related charges.

What happens if I can’t repay the loan?

In the event that you are unable to keep up with your repayments, please speak with us immediately. Depending on the personal circumstance, we may be able to make new payment arrangements. Failure to contact us right away may lead to late or missed payment fees. If you continue to miss payments then repossession of your vehicle may be the next action.