Is Logbook Loan Safe?

In short, yes.

Logbook loans are very safe, however we aim to be the safest, working with responsible lenders to ensure that we have the highest standards when it comes to your money and your vehicle.

It’s just like taking out a mortgage or a secured loan but instead of securing the loan against your home, logbook loans are secured against the value of your car, and you can still drive it as you please!

In fact, it’s not just like taking out a mortgage or a secured loan, because it is far quicker and far easier whilst they are just as safe!

Eek Loans pledges to be clear and honest with you, we will always keep you informed of your account and help you as best as we can within the terms of your Credit Agreement.

All loan or credit providers in the United Kingdom are required to be registered with the Financial Conduct Authority and we are not an exception. In addition to this, for added protection, your Credit Agreement ensures you the protection of the law if something goes wrong. Compact Law explains how Credit Agreements work and the protection they provide at their site: www.compactlaw.co.uk. We don’t believe at Eek Loans that you will ever need the protection of your Credit Agreement. This is because we always act within the law and we always provide you with the best service that we can offer. Other companies may be flouting the law but we will never break the terms of our deal with you.

We hold a credit licence, as the law requires all logbook loan providers in the United Kingdom. However, we work hard to go above and beyond the law and provide a better service than is the minimal requirement.

Striving to be the best has led us to form our voluntary code of practice. We work with other leading logbook loan providers to improve our customer service and the way in which logbook loans work. We think that we have got it right, but we are always trying to improve because we want to assure you and all of our customers that you will receive the best rates and best service amongst logbook loan providers.

We train our staff to be polite and to treat you with dignity at all times. We listen to the customer and your feedback is of the utmost importance to us.

We will never sell your car unless you breach the terms of your deal. We lend responsibly and believe that anyone who takes out a loan with us is a good investment, which is why we work so hard to provide you with rates that you will always be able to afford.

Other lenders do not run their businesses in the streamlined and efficient way that we do. We aim to distance ourselves from the practices of lenders like those who have recently been in the news for bad practice by the way in which we respect customers.

At Eek Loans, the customer is first, we aim to be aware of your needs and respect them, and this means that we can help you if you need it.

In answer to your question then: a logbook loan from Eek Loans or other responsible lenders in our network is a safe way to borrow the money that you need, when you need it.