What is a logbook loan?

A logbook loan is a type of secured loan that lets you borrow money against your car. It means that the lender owns your car until you make the final payment and they can sell it if you fail to make the repayments.

Logbook loans can be expensive and risky, therefore other types of car finance can be a more favourable option. You can read more about car financing options in our how does car finance work guide.