About Logbook Money Loans
Logbook Money has emerged as a key player in the logbook sector. This brand was launched by Andrew Gardiner back in 2009. V5 Solutions is now also Group owned. V5 had been previously part of Betterpace Ltd. It has been impressive partnerships that has made this particular firm highly intriguing. A well known lender (Varooma) recently switched to brokering and went exclusively with them. A few established high street brands are also sending referrals including Cash Converters and Ramsdens. Whilst several key partners are sending visitors across it is surprising to see www.logbookmoney.com be unranked in Alexa. We’d expect this to change soon and we have already noticed more recent reviews start to pop up.
What makes this lender an attractive proposition is that they impose no required age limit on the car that you own. This is perhaps what attracted Varooma as they themselves had no such restriction. There is however a heavy price to pay when choosing this service. The representative example that they display comes with an £1800 per £1000 cost over 18 months (that would be £1200 over a year if that was possible). If you however use their current attached loan calculator then the cost comes in at £1980 (equates to £1320 for 12m). The term range is 18 to 48 months and so for a year you’d need to go longer and opt for an early settlement.
About MotorKitty Loans
MotorKitty is still relatively fresh on the scene having arrived back in 2016. They were able to adjust quickly as the founder Damon Hirschl had built the Varooma company from the ground up. They got off to a great start soon after launching, but this was short lived and they don’t appear to be doing so well now, evident from being Alexa unranked. This may well change soon. Logbook lending has proved tricky throughout the pandemic. What’s really helped newcomer Loan on Your Car to overcome this has been their innovative online process with no such required visits. MotorKitty’s service certainly deserves greater attention as it is delivers excellent market value set across varied interest tiers.
These tiers run as: Very Poor, Poor, Average, Good and Excellent. When opting for a £1000 loan over 12 months these costs would vary as £200, £269.96, £449.96, £650 and £749.96. There is a best price guarantee provided of a 10% bonus plus a £50 Amazon gift voucher. For reference, the only rival that beats their lowest tier is V5 Loans at £640.60, but V5 appears to be a potential closure. MotorKitty logbook loans extend to 60% of trade value on sums ranging from £500 to £5000. The 3 to 24 monthly term range isn’t very wide, but you can pick any month between. They send reps that can meet across England, Northern Ireland and Wales.
About Car Cash Point Loans
Car Cash Point (branded only as CarCashPoint in the logo) is one of the leading logbook lenders that has was launched in 2010 and so they have now hit the 10 year milestone. This business was formed by Paul Hilburn who has since left to launch Loan on Your Car. On CCP’s site you’ll see 10 locations noted. Some of these may have been past branches as there are now only listed addresses for 6 of them being: Birmingham, Bristol, Leeds, Leicester, Liverpool and Manchester. Their London office is corporate only. You can either make your way to one of these branches or a rep can instead head your way (at an additional charge).
Having built up their own network this should help to speed up the process and they in fact promise money within the hour. Coverage extends to England, Northern Ireland and Wales. The owner also trades from www.logbookloansni.co.uk although they don’t actually have an NI office. It can be confusing browsing the information on www.carcashpoint.co.uk as they list varied potential amounts and phone numbers amongst other things. Between £500 and £100,000 is available although they cap up to 50% of the trade value. CCP’s Platinum limit rises all the way to £1,000,000, but this time with a 75% cap. The term range is 12 to 60 months and you can opt to repay monthly or weekly.
About Loan on Your Car Loans
The logbook loan sector has endured great turmoil in recent years with various closures and with site rankings dropping off the map for many competing brands. This is why it was great news to hear of a new logbook lender emerge with such an intriguing service. It would be impossible for any random start-up to make such an instant impact, but behind the company in focus is Paul Hilburn who was founder of the successful Car Cash Point brand. We believe he is still a small shareholder there, but there is no working relationship now and the firms are in fact now locking horns for the top spot for most visited.
The launch of www.loanonyourcar.com went ahead in late 2019. This was very bad timing with the pandemic that would soon follow. What has really helped this lender to overcome the troubling times has been their approach to completing the loan process fully online. There are no visits required here, with inspections taking place via WhatsApp. They also use e-sign that speeds up payouts to around an hour. There is no need to hand over your logbook or spare key as well. This service runs on a Hire Purchase agreement rather than Bill of Sale and so this also opens up coverage to those in Northern Ireland and Scotland. Bad credit, self-employment etc are accepted.
About Loans 2 Go Loans
Loans 2 Go is the market leading logbook lender active at www.loans2go.co.uk. This is a position that they cemented when they merged with Hermes Property Services in January 2015. Hermes had purchased the rights of www.logbookloans.co.uk when the original owner entered administration (after years of being the dominant force). L2Go’s history dates back to 2002. They became a recognisable sector brand in 2013 through TV advertising. They had also become well known after building a large network of 78 branches. They opted to eventually close these down and operate fully online. With the popularity of logbook lending dropping it is refreshing to see a personal loan option made available. This is fixed at 18 months with CCJs considered.
Pricing across each of the products is expensive. On the logbook side they charge £1320 on £1000 across a year. Whilst you won’t find competitive rates here, they don’t impose age limits on your cars whilst many competitors impose a 10 year restriction. They are also open on Saturdays for extended hours and charge no late fees. A handy online payment can now also be made. Reviews have been mixed. Their Feefo feedback is favourable with 74.8% 5 star ratings from 2436 reviews, but on Trustpilot they score at 42% from 2000+ total feedback. This continues to the most visited sector brand although they aren’t locally ranked (global floats around 1.5 million). They recently surpassed 1000 fans on Facebook.