When it comes to logbook loans, it always seems like the borrowers are more concerned about the loan than the lenders. However, that is not always the case. Logbook lenders have their own questions and concerns too. Before issuing a loan, lenders have to hope and ensure that they will get their money back in one way or another. That is why they also have to take a couple of things into account. By knowing some of these things, you can be able to gauge yourself and know what to expect before applying for a logbook loan. Have a look at them below.


One of the first thing a logbook loan lender will always ask you before issuing you a loan is the age of your vehicle. The age of your car helps the lender in determining the value of your automobile and ultimately the amount that you’ll be eligible to. You’d be surprised that some car owners don’t even know how old their vehicle is.

However, you can find such details using the VIN (Vehicle Identification Number). If you have never seen your VIN, it is usually located on your dashboard area near the windscreen. You should see it from the driver’s side. It’s a 17-digit number. So, you should learn how to read it too. By knowing your VIN beforehand, you can prepare yourself psychologically and form a solid basis for negotiations.

Vehicle type

There are many types of automobiles out there and all of them are eligible to different amounts of loans. So, do you own a sports car or a vintage? Modern vehicles are likely to fetch more cash compared to older vintage cars. This is because they are easy to resell once repossessed. At least that is what some lenders might think. On the other hand, vintage or classic cars could be of more value to a lender than a modern sports car. It is also easier to tell their value and they depreciate slowly compared to the latest sports car.  Moreover, some lenders could just have an affinity for classics than modern automobiles.


No matter the model, make or year your car is, it all comes down to the vehicle’s condition eventually. The last thing lenders want is to repossess a vehicle and take it to the mechanic for repair. That wouldn’t be too good for business. So, how is your car’s condition? If it’s in pretty bad shape, you could sacrifice a little bit of cash and repair it in order to increase your chance for acquiring a larger loan amount. Generally, vehicles that are in tip top condition will always gain you access to better loans than those that are in a poor condition.

Ability to repay

The truth is that lenders are more after the interest than they are after your vehicle. To them, the vehicle is just a failsafe that ensures they do not lose all their money. Although you might still get a logbook loan despite having bad credit, lenders still have to know that you are at least capable of paying the loan. What they look for is a flow of income. You do not necessarily have to be employed. You could even have a small business or online company and still be eligible. All lenders need to know is whether you can actually pay the loan together with the high interest rates they hope to profit from.