The APR is extremely high so it’s worth paying it off as quickly as possible. There could possibly be some additional charges on early repayment if you pay back more than £8,000. Logbook lenders may request weekly repayments. However, they may not take Direct Debit so it is difficult to know precisely how much you owe. If you are ever uncertain as to how much you owe, you are able to ask for a statement of account, which a lender is required by law to give you. The amount you are able to borrow depends entirely on the value of your which should be valued independently. If your vehicle already has finance on it, it may be possible to get a logbook loan. However, this is only the case if your existing loan agreement is running out and the outstanding amount is low.