Varooma logbook loans

Varooma specialises in fast online loans that use your car as security.

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With a logbook loan from Varooma, you’ll temporarily transfer ownership of your car to Varooma, but you’ll still be able to drive around in it. Having that security means that Varooma can be more flexible than say, a high-street bank, about who it lends to.

Varooma Logbook Loan

Apply for a loan from Varooma

  • Logbook loans from £500 to £50,000.
  • Borrow up to 70% of the trade value of your car.
  • Money in your bank account even within 1 hour of approval.

Representative example: Borrow £1000.00 over 12 months at a rate of 75% p.a. (fixed). Representative APR 209.42% and total payable £1749.96 in monthly repayments of £145.83.

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Warning: late repayments can cause you serious money problems. See our debt help guides.

Key features

Loan typeLogbook loan
Loan amounts£500 to £50,000
Loan termsUp to 36 months
Loan rate typeFixed
Same day funding available
Repayment methodsdebit card, bank transfers

Am I eligible for a Varooma logbook loan?

Only consider a Varooma loan if you’re confident you’ll be able to meet the repayment schedule. You’ll also need to meet the following criteria in order for your application to be assessed:

Age18 or over
Additional requirementsYou must have a UK bank account.
You need to show that you receive regular income.
Your vehicle must be clear or almost clear of finance.
Your vehicle must be insured and taxed with a valid MOT certificate.
The V5 must be in your name.

How do I apply?

Crucially, you’ll need to prove that you’re the owner of the vehicle you’re putting up as collateral for the loan. That means having the V5 form in your name, plus photo ID to prove you’re who you say you are! The application process can be fully online, but getting a decision will usually require a phone call or a face-to-face chat with an adviser.

Following approval, the funds can be transferred the same day, potentially within one hour.

Frequently asked questions

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