FAQs

Who can apply for a logbook loan?

If you are at least 18 years old, a UK resident and a vehicle owner, you can apply for a logbook loan. Just complete the online form by providing your vehicle’s reg number to request for a quick quote at no charge at all.

How much can I borrow?

If you are eligible for a logbook loan, you can borrow anywhere from £500 up to £50,000 at a representative APR below the market average. The loan is payable in 12 up to 36 months either through biweekly or a monthly installments.

What kinds of cars are acceptable as security for a logbook loan?

Any kind or make of car is acceptable as security for your logbook loan provided that it’s free of any financing and is less than ten years in age. The maximum amount you can borrow is 70% of your vehicle’s official trade value.

What are the documents required when applying for a logbook loan?

When applying for a logbook loan, borrowers are recommended to prepare the following documents beforehand for a speedier processing:

  • V5 or logbook document
  • MOT certificate
  • Insurance details
  • Valid tax details
  • Proof of identification
  • Proof of income
  • Billing details
  • Bank details

Do I need to be employed to be eligible?

SD Loans requires all borrowers to be employed with proof of income to be eligible for a logbook loan. If you are self-employed and have sufficient monthly income, you can also apply online and we will have your application assessed accordingly.

How can I pay for the logbook loan

You can pay for your logbook loan either bi-weekly or monthly. You can do it over-the- counter or through a debt collector. You can also do it via bank transaction by setting up a direct debit arrangement with your respective bank.

When can I receive the money?

As soon as your logbook loan is approved, you can expect to receive the money within hours. It will be wire transferred directly to your bank account for convenience. You can withdraw it right away and use it to meet a wide variety of financial needs from overdue bills to paying your rent or meeting a medical emergency.

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

At SD Loans, we do not require customers to disclose the reason behind the loan. So long as you’re a car owner and you’re willing to use said asset as collateral for your logbook loan, you are eligible to avail our quick and affordable logbook loan offers.

Will you repossess my vehicle in case of nonpayment?

As per the debt agreement, SD Loans has the right to repossess your vehicle in case of nonpayment. Repossession is usually carried out after customer has been contacted without any response. A debt collector is sent to collect payments. In the event of continued nonpayment, only then will the lender recover your car.