How does Varooma work?

Once you have applied for one of our logbook loans, one of our experienced underwriters will call you in person to go through the application. They will answer any questions you may have, talk you through a quote and work out the most affordable weekly or monthly repayments over a term that is suitable.

How long do Varooma take to pay?

Depending on your requirements we can provide the cash in as little as 2 hours. Once you have signed all the paperwork, money will be transferred to your account within minutes. It really is that easy!

How much can you get on a log book loan?

Borrow up to 70% of the trade value of your car and receive your logbook loan within hours of being approved.

Can you get a log book loan if your car is on finance?

Even if the vehicle has existing finance against it, you might still be able to get a logbook loan, but generally only if your existing loan agreement is coming to an end and the outstanding amount is low (and you’ll need to get permission from your existing lender first).

Can I top up my Varooma loan?

One key benefit of Varooma is that they do keep their customer’s interests in mind and offer a flexible repayment plan offering weekly or monthly repayments. During the loan term they can also top-up your loan if you have proven yourself to be a trusted customer and met your repayments on time.

Can I get a logbook loan on benefits?

A logbook loan can be particularly helpful for those who are on benefits or unemployed as you do not need to have a good credit score and even a credit check to apply. However, you need to be sure that you can make the payments each week or you risk losing your car.

How can I borrow money against my car?

An auto equity loan is a type of secured loan that allows you to borrow money against the value of your car, often whether you own it outright or have some equity in your car. Loan amounts will depend on factors like how much equity you have in your car, its fair market value, your income and credit.

Can I get a logbook loan with bad credit?

There are no credit checks carried out for log book loans so they are often used by people with a poor credit history. Since this type of loan is considered to be high-risk for the lender, it is very expensive.

Can I pawn my car and still drive it?

Pawn Your Car And Still Drive. Pawn shops have long been one of the fastest ways for people to get money when they need it by pawning a piece of property or taking out a loan against its value. The good news is that you can pawn your car and drive when you apply for a title loan.

Can I borrow against my vehicle?

You can borrow money against your car as collateral or obtain a secured loan against your car value when you pawn your car to borrow against your car the money you need.

Can I borrow money against my vehicle?

How long does it take to get a logbook loan?

It can take up to 6 weeks to receive the logbook, but it can come within 5 working days. If you have lost or damaged your logbook you can apply for a replacement from the DVLA, which costs £25. As a logbook loan is secured against your vehicle, you will need this document before you apply.

How is the customer service process at varooma?

I was extremely impressed by the way… I was extremely impressed by the way that Varooma dealt with me as a customer. The process was seamless and the people involved were highly professional and genuinely motivated to exceed expectations. The desire to make the process efficient is very apparent.

Can you get a logbook loan with varooma?

I applied for a logbook loan with Varooma. Was initially accepted after confirming the details of my car, plus that I’m a civil servant with a permanent full time job and a very affordable income. I could understand being asked to provide proof of ID plus address, that’s fine. I could easily have provided wage slips too if needed. But no.

Why are my interest rates so high with varooma?

Please don’t try to take the moral high ground when, at the end of the day, only customers who have a poor credit score come to you in the first place – and your high interest rates reflect that! As for Moola, although some lenders use it, the majority do not…