What are the documents required for a logbook loan?
To avail of our logbook loan, you need to prepare the following documents:
- Logbook or v5 document
- MOT certificate
- Insurance details
- Proof of identification
- Proof of regular income
What if I am self-employed? Am I still eligible?
If you are self-employed or working part time, you can still avail of our loan provided that you are able to provide documentation of your regular income.
What type of cars do you accept?
We accept all types and makes of cars provided that it is less than ten years in age and is free of any financing.
How much is the maximum amount I can borrow?
You can borrower anywhere from £500 to £50,000. The maximum amount will depend on the type of car you own and your income. In general, you can take out a loan up to 70% of your vehicle's official trade value.
How long do repayments last?
Repayment period depends on your financial circumstances. At Alt G Loans, repayment starts from 12 to 36 months which you can tailor according to your needs and budget.
How much does your logbook loan costs?
Interest rates for our logbook loans vary from deal to deal. In general, the average Representative APR for logbook loans in the market is 400%. Our offers are typically less than the market average.
How long before I can receive the money?
At Alt G Loans, we offer same day approval which means you can receive the money within the same day provided that you meet the requirements and have the needed documents ready beforehand.
How do I pay for the logbook loan?
All logbook loan repayments are done via direct debit deduction. We will ask you to provide debit card details during the application process for this set-up. Make sure your card has sufficient balance to cover for your monthly dues.
What happens if I am unable to repay the loan?
If you are unable to repay the loan, we may need to repossess your car as per the contract agreement. But not before you are given a chance to catch up.
What can I do if I think I cannot handle the monthly repayments anymore?
In the event that you suspect your ability to repay the loan, we recommend that you speak with us immediately. We may be able to make new payment arrangements to tailor to your current circumstances so it will be easier for you to handle the repayments.
Do you have any hidden fees?
We do not have any hidden fees but we do have related charges and fees we openly disclose to our customers. These charges and fees may include early or late repayments, set-up charges and more.