The loan is on your car. The car stays with you.
A logbook loan from V5 Solutions is secured with a Bill of Sale, a document, rather than by taking the vehicle. Nothing about your driving changes while you repay, and the car is yours outright again once the loan is paid off.
At a glance
- Your keys
- Yours throughout
- Your V5C
- Not handed over
- Spare key
- We do not ask for it
- Security
- A Bill of Sale document
- When repaid
- Full ownership returns
A UK direct lender you can rely on
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Established 200915+ years lending
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Thousands of driversTrusted us with their car
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Rated Excellent 4.9 / 5 from 246 Trustpilot reviews (opens in a new tab)
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UK based teamReal people, real phone line
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FCA authorisedFirm reference 680947
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ICO registeredYour data protected
While you repay
Same car, same journeys, same keys.
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Same car, same journeys
Use the car exactly as before, for work, the school run and trips away. The loan does not change how you drive.
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Your V5C stays put
We never ask for your V5C logbook. The loan is secured by a Bill of Sale, a document you sign, instead.
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Every key stays with you
We do not take a spare key. All your keys stay in your pocket for the whole term.
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Clear it early whenever you like
Pay the loan off early at any time and receive a rebate on the interest. Early settlement quotes include one month's interest.
The paperwork
What a Bill of Sale actually does.
Outside Scotland, a Bill of Sale is usually the document that secures a logbook loan. Signing it makes Logbook Money Limited, trading as V5 Solutions, the legal owner of the vehicle for the life of the loan, while you keep possession and keep driving. When the final payment clears, ownership passes back to you.
For most loans a signing agent comes to you to witness your signature on the Bill of Sale and to take a photo of you with the car, for identity purposes. In Scotland, and for some other UK loans, there is no Bill of Sale: you sign a Hire Purchase agreement online and send us the photos and documents instead, so nobody needs to visit.
Our Borrower Information Sheet (PDF, opens in a new tab) sets out how a Bill of Sale works in plain terms.
If repayments become difficult
Tell us as soon as you can. A payment arrangement or a reduced repayment plan is usually the way forward, and repossession is only ever a last resort.
Your car may be repossessed if you do not keep up repayments on a loan secured against it.
Your car during the loan
Do I keep my car with a V5 Solutions logbook loan?
Yes. The loan is secured by a Bill of Sale, not by taking the vehicle. You keep the keys and drive as normal for the whole term.
Do you keep my V5C logbook?
No. We never ask for your V5C. The Bill of Sale makes us the legal owner of the vehicle until the loan is repaid, while you keep possession and carry on driving.
Does the loan change how I can use the car?
No. Use it as you did before. Keep it taxed, insured and with a valid MOT, as the vehicle is the security for the loan.
What if I cannot keep up the repayments?
Tell us as soon as your circumstances change. We will work with you on a way forward, such as a payment arrangement or a reduced repayment plan. Your car may be repossessed if you do not keep up repayments on a loan secured against it.
Can I give the vehicle back instead of repaying?
Yes. If you hit unexpected financial difficulty you can surrender the vehicle by dropping it off at one of our approved auction houses. If it is roadworthy and well maintained we may accept it as partial or full settlement, in line with the CCTA code of practice for logbook loans.
When would V5 Solutions repossess a car?
Only as a last resort, where there is no willingness or intention to repay the loan. Circumstances change, and we always work with you in good faith first, whether that means a reduced repayment plan or a voluntary surrender of the vehicle.
What happens after a vehicle is recovered?
We hold the vehicle for 14 days so you can settle the loan and collect it. After that we sell it and use the proceeds to settle the loan. Anything left over is paid to you, and you remain liable for any shortfall.
Borrowing responsibly. We only lend when the repayments are affordable for you. Our service is not advised, so if you are worried about money you can get free, impartial help from MoneyHelper (opens in a new tab), StepChange (opens in a new tab) or Citizens Advice (opens in a new tab).
Guides
Plain-English guides to logbook loans, credit and money.
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No Credit History or Bad Credit? Understanding the Difference
Two applicants, two refusals, two very different reasons. We explain how a thin credit file differs from a poor one and what helps in each case.
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Topping Up a Logbook Loan: Eligibility, Process and Risks
Topping up an existing logbook loan is sometimes possible. Learn the eligibility rules, how V5 Solutions assesses a request and the risks to consider.
Read guide -
Five Times Your V5C Logbook Really Matters
From buying and selling to moving house and borrowing, here are five moments when an accurate V5C logbook makes a real difference to vehicle owners.
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Which Types of Loan Fit Which Situations? A UK Borrowing Guide
See how common borrowing needs map to the main kinds of credit. We explain UK loan types, from personal and secured loans to credit unions and BNPL, by everyday need.
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How Loan to Value Shapes the Size of Your Logbook Loan
Your vehicle's value and your budget together set how much you can borrow. Learn how lenders use loan to value and how it affects your logbook loan.
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How Modern Logbook Loans Work: A Worked Example
Follow one example borrower through a V5 Solutions logbook loan, from the soft-search quote and signing to repayments, settling early and the end.
Read guide