If you have problems with bad credit and are often getting refused by banks and financial institutions for a loan, getting some quick cash can be quite difficult. Finding the best logbook loan company among hundreds on the Internet may look like an impossible task, but that is what we are here for.

What are Logbook Loans?

A logbook or V5 loan is a secured loan offered to people who have bad credit ratings and don't qualify for regular loans. The loan is short-term, and it allows you to withdraw the money by using your car as a collateral against it. The lending company keeps the vehicle's logbook as well as the right to repossess it (sell it) if you fail to pay the loan back.

The sum which you can borrow using this kind of loan depends on two things: the model and age of your car and on your income. This way, you can borrow a sum between £500 and £50,000 and the money will be available within 24 hours if your application has been successful.

These loans do not require a credit check, which makes them perfect for people who are refused a loan due to bad credit score.

Who Might Need Logbook Loans?

The people that can benefit the most from these loans are those with poor or no credit history and own a car. Poor credit rating can make applying for a standard loan at a bank a fruitless endeavour, but with these loans, you don't need to worry about that any more. No matter how bad your credit history might be, you can still be accepted for a V5 loan.

Of course, that doesn't mean that only people with poor credit rating can use it. Logbook loans are also great in those circumstances when you just need some quick money and don't have the time to way for the bank's approval or for them to deposit the funds on your account.

How Do They Work?

Getting a logbook loan is a very easy process. Most lending companies only require you to fill out a short online form where you provide details on your contact and vehicle. After reviewing your information (a process that lasts only a few minutes), you get matched with a trusted lender and the agent calls you with a free quote

And We Are?

SABP Loans is someone who has been in this business for a while and it is a name that you can fully trust when it comes to finding the perfect V5 loan deal for you. Our comparison service will bring you a lot closer to deals offered by the country's most reputable lenders.

We understand that having bad credit can be a big obstacle if you are trying to get a loan, but we also realize that some events (happy or sad) force us to apply for a loan eventually. We want to help you by lessening your financial worries by finding the right lender for your needs. Click here to obtain the best logbook loans quotes today!