A logbook loan is a way to access cash fast by borrowing money against your car. We can arrange for money to hit your account within a matter of hours of application and, even better, it’s a much cheaper option than a payday loan. Our typical APR is 197.8%.
One question we get a lot however, it: “What if I don’t have a car? Can I still get a loan from Motoloan on my motorbike/van/motorhome?”
The answer is yes! We accept loans against a whole range of vehicles to help you achieve the borrowing solution you require.
What vehicles do we accept at Motoloan?
Unlike other providers of logbook loans the range of vehicles we accept is extensive, including:
• agricultural equipment
• light aircraft
As long as your vehicle has a market value, has no outstanding finance, and you are the owner and over 18, we will do everything we can to provide you with the cash you need.
Examples of taking a loan against alternative vehicles
Borrowing against an alternative to a car is helpful to a great many people. Imagine, for example, you have a car on finance or hire-purchase, meaning you can’t borrow against it, but your caravan is owned outright and worth £10,000. This opens up a whole new world of borrowing possibilities for you, which wouldn’t have been option with outstanding finance on your car.
The fact that we lend against agricultural equipment and tractors, can be a great help to farmers and agricultural workers looking for a way to get cash quickly, for business or personal reasons. Self employed people and small business owners may wish to borrow against a van or lorry in their fleet to access cash. Often these vehicles have a higher market value than cars.
To take out a loan against any vehicle with Motoloan all you need to provide is the vehicle’s logbook, MOT certificate, your insurance details, proof of ID and details of your income, and two letters with your current address on, dated within the last 3 months.
The application process is simple and quick. Apply now, using the form on the homepage of our website. Or give us a call today on 03335 772 274, and talk to one of our advisers.