What is a Logbook Loan?

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A logbook loan is just one of the many types of secured loan available on the market.
The most common type of secured loan is secured against a property, as this is usually the best valuable asset most borrowers have to offer as collateral to secure the risk posed to the lender.
However, a secured loan can be secured against anything that meets the value of the loan. A logbook loan, as the name suggests, is secured against the value of your vehicle. It’s called a logbook loan because you hand over your logbook to the lender as security for the duration of the loan term.