Car Cash Point provide logbook loans secured by your car. They are regulated and authorised by the Financial Conduct Authority towards conducting consumer credit. It is also a member of the Consumer Credit Trade Association and it complies with the code of practice of that Association.
Logbook Loan Facts with Car Cash Point
Maximum Loan Amount: 50000 £
Maximum Loan Term: 3 years
Minimum Age of the Borrower: 18 years
Car Cash Point will also offer loans on cars, motorcycles, caravans, vans, boats (for storage only), helicopters (for storage only) and light aircrafts (for storage only).
Repayment Methods accepted by Car Cash Point
- Standing Order [Car Cash Point gives you standard instruction which you can complete and give to your respective bank]
- Electronic Bank Transfer
- Direct Cash Payment or Cheque Payment at a branch of Barclays Bank.
- Debit Card Payment [This is subject to a payment on nominal basis which is added at cost by the payment provider of Car Cash Point]
How does the loan process work?
There are a number of ways to apply for a loan from Car Cash Point. Borrowers can phone up its offices directly. The customer service centres are open from Mondays to Saturdays from 08:00 hours to 20:00 hours. They can also fill in the application form, online. People who apply for a car loan from CarCashPoint.co.uk have to be residents in England, Northern Ireland or Wales. They have to be legal owners of their vehicles that they require loan against. The cars that they are taking the loan against will have to be taxed and be comprehensively insured. They also have to be free of any previous outstanding finance agreement.
Once the loan application is received online or through phone, the borrower will be contacted by the payment team. Personal information details will get verified. It is established that the borrower would be able to afford to repay the loan amount. A specialist representative would then attend to the concerned borrower. This person will have the vehicle checked thoroughly to ascertain its current market value before completing the paperwork. Once the representative is satisfied, the application process would be taken a step further for its completion and the loan amount may get released on the same day of its application.
Weekly or monthly repayment options are offered, subject to affordability and compliance with the loan terms and conditions. The car owner would be able to use his or her car during the tenure of the loan.
Approval of the logbook car loan is subject to suitability, affordability and compliance of the terms and conditions of the loan. There has to be a provision of a written quotation.