Frequently Asked Questions

What Is A Logbook Loan? - A logbook loan is when you use your car as collateral to secure a loan. This is typically done if you have poor credit and can't get a loan from a bank. It gets its name from your V5 documentation, also known as your logbook.
Will You Own My Car? - Technically, yes, we will own at least part of your car. This is so that if you fail to repay your loans, we can sell the car to pay back the debt. How Do Repayments Work? - There are two options when it comes to making payments. We can either withdraw the amount from your bank account either weekly or monthly, or you can pay by cash or check at one of our local branches.
How Long Does It Take To Get Paid? - If you have all of the proper documentation ready and if you agree to our terms, we can process your application right away and get you your money within hours.
Can I Use A Car With Financing Left On It? - If there is still money owed on your car, we will not be able to provide you a loan with it. However, if you are about to make your final payment on it, please feel free to call us and discuss your personal situation with us to see if we can work something out.
Are My Details Kept Private? - Your details are 100% safe with Reminiscene Loans. We will never share or sell any of your information with other parties without informing you. All of this information can be found in our privacy policy.
How Much Can I Borrow? - This will vary with each person. Typically, the more your car is worth, the more you can borrow. It will also depend on how much you can afford to pay back each week.
What Are The Interest Rates? - This will depend on how much you want to borrow compared to the worth of your car. The larger the proportion of your loan, the more interest that will be charged. Taking out only a small amount compared to your car's worth will have smaller interest rates.
Can I Use Another Vehicle Besides a Car? - As long as you meet the other eligibility requirements, we have no problem accepting other commercial vehicles besides a car. If you are unsure if your vehicle is eligible, feel free to contact us at any time. We can discuss with you if your vehicle fits our requirements so that you know if you can use it for a loan.
How Long Are The Loan Terms For? - This is another factor that is determined by your loan amount and how much you are paying back. However if you have problems making your payments, we ask that you let us know as soon as possible so that we can work out a solution before you lose your car.
What If I Miss Payments? - If you continually miss payments, you run the risk of losing your collateral (in this case, your car). We try our best to work with every customer to figure out a repayment schedule that works for you so that this doesn't happen though.
What If I Have Bad Credit? – We don't perform credit checks, so your credit rating does not matter to us. As long as you have a car, and can prove an ability to pay the loan back, you should have no problem getting a loan from us.
Can I Get A Loan If I'm Self Employed? - Yes, this isn't a problem for us. All you need to do is show that you are earning a regular income so that we can see you are able to make payments, and it shouldn't cause any problems.
Are There Any Other Fees? - There are no other fees associated with getting a logbook loan from us. No administrative fees, and no set-up fees.
What If My Car Is Pretty Old? - As long as your car is in good working condition, you can probably get a loan against it. That being said, we prefer to work with cars that have been made in the past 10 years. If your car is older than that, please feel free to contact us and we will discuss your personal circumstances with you.
Can I Pay Back The Loan Early? - Absolutely. We don't charge any early settlement fees, so you can pay back your loan as soon as you'd like.