Already have a logbook loan? Bring it to us.
Switching means taking a new V5 Solutions loan that clears the one you have. We pay your current lender directly, it costs nothing to switch, and you carry on driving the same car throughout.
At a glance
- Cost to switch
- Nothing
- Your old loan
- Settled by us, directly
- Switch from
- Any UK logbook lender
- Representative APR
- 193.63%
- Borrow
- £1,000 to £50,000
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
How switching works
Four steps, and we handle the awkward one.
The loan moves. The car does not: you keep driving it from the first step to the last.
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Step 01: Get a quote and pick Switch & Save
Enter your registration and choose Switch & Save as the reason for the loan. A soft search produces a personal quote without touching your credit score.
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Step 02: Go through our usual checks
Share 60 days of bank statements through Open Banking, talk to an underwriter about affordability and e-sign your agreement.
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Step 03: We clear the old loan
We pay your existing lender directly and settle the loan you have. There is nothing for you to arrange.
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Step 04: Repay V5 Solutions instead
Fixed weekly or monthly repayments at our rate. Settle early at any time and receive a rebate on the interest.
Why switch to us
You could pay less, and the paperwork is ours.
- Switching costs you nothing
- We settle with your current lender, not you
- Move from any other UK logbook lender
- Interest fixed on the day you sign
- No hidden fees for taking out the loan
- Settle early whenever you like, with an interest rebate
Compare logbook loans
How our rates compare.
We check the representative examples that UK logbook lenders publish on their own websites and list them here, lowest APR first. The APR includes interest and any fees, so it is the fairest way to compare.
| Rank | Lender | Representative APR | Interest rate (fixed) | Example loan | Fees | Repayments |
|---|---|---|---|---|---|---|
| 1 | V5 Solutions That's us | 193.63% (lowest in this table) | 84.0% a year (lowest in this table) | £3,000 over 36 months | None (lowest in this table) | £293.33 a month |
| 2 | Logbook Money | 193.63% | 84.0% a year | £3,000 over 36 months | None | £293.33 a month |
| 3 | Loan On Your Car | 207.3% | 84.0% a year | £1,000 over 36 months | £65 (highest in this table) | £97.78 a month |
| 4 | Car Cash Point | 230.7% (highest in this table) | 96.0% a year (highest in this table) | £1,000 over 36 months | None | £24.87 a week |
| 5 | e-logbook Loan | 230.7% (highest in this table) | 96.0% a year (highest in this table) | £700 over 36 months | None | £17.41 a week |
| 6 | Logbook Loans NI | 230.7% (highest in this table) | 96.0% a year (highest in this table) | £1,000 over 36 months | None | £24.87 a week |
Last checked . Figures are each lender's own published representative example. Loan amounts and terms differ between lenders, so compare the APR rather than the repayments. The rate you are offered depends on your circumstances and your vehicle. We review this table every six months; if a lender has changed its rates since, its website will have the latest figures.
Pink figures are the lowest in the table or lower than ours; dark red figures are the highest in the table. Each is also described in text for screen readers.
Your car may be repossessed if you do not keep up repayments on a loan secured against it.
Before you switch
Look at the whole cost, not only the rate.
Set the total repayable on your V5 Solutions quote against the amount still owed on your current loan. A lower rate stretched over a longer term can cost more in total.
Borrow responsibly. We only lend when the repayments are affordable for you. Our service is not advised, so if money is a worry 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).
Questions about switching
Does it cost anything to switch my logbook loan to V5 Solutions?
No. There is no cost to switch your logbook loan to us.
Who settles my existing loan?
We do. V5 Solutions pays your current lender directly to clear the loan, so there is nothing for you to arrange.
Can I switch from any lender?
Yes. You can move a logbook loan from any other lender.
Will I pay less after switching?
You could. Your personal quote shows your rate, your repayments and the total you would repay before you commit, so you can set it against your current loan. Our representative APR is 193.63%, and the rate comparison on this page shows where it sits among UK logbook lenders.
Does switching affect my credit score?
Getting the quote uses a soft credit search with TransUnion, which does not affect your credit score.
Can I settle the new loan early?
Yes. Settle at any time and receive a rebate on the interest, so the sooner you clear it, the less you repay. Early settlement quotes include one month's interest.
Ready to switch?
When you start your quote, pick Switch & Save as the reason for the loan and we take it from there.
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.
Read guide -
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.
Read guide -
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.
Read guide -
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.
Read guide -
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