There are certain documents that will be required for you to take out a logbook loan. These include, but are not necessarily limited to, the following:
- Logbook: this is the V5 document for your vehicle.
- MOTcertificate for your vehicle which is valid and in date.
- Proof of your income: this could be in the form of pay slips or a signed letter from your employer. If you are self-employed, bank statements are required.
- Proof of your residential address. A bill with your current address on it will be sufficient. This is required because logbook loans through KM Loans are only available to residents of the UK.
- Insurance details of your vehicle. These are required to verify the value of your vehicle so the maximum loan amount can be calculated. To further verify this, the vehicle should be brought to the appointment with the lender.
If you have all these things you should be able to get a logbook loan. The amount that you are able to loan will be dependent on your income and the value of your vehicle.