FAQS

Do you have specific models of cars you accept as collateral?

At Green Dragon Loans, we do not limit any of our customers to access our affordable loans because of the model of car they posses. In fact, we accept all types of cars so long as they haven’t been on the road for more than 10 years and have no financing attached to it.

How much can I borrow using my car as collateral?

At Green Dragon Loans, we understand that meeting your cash needs as and when you want is what makes us stand out from other firms across the UK. As such, we are ready to advance a maximum of £50,000 as a logbook loan or alternatively, up to 75% of your car value. The minimum amount you can borrow is £500.

Do I need to state the reason as to why I need the loan?

Not at all. We don’t need you to disclose the reason as to why you are applying for the loan. You can use the money we advance you however you deem fit. The choice is yours.

What if I have bad credit?

Green Dragon Loans is all about providing each and every citizen of the UK an equal opportunity to access logbook loans irrespective of their credit history status. If you have bad credit, you can be rest assured that it won’t be a factor in our approval process.

What impact does taking a logbook loan have on my credit score?

If you have a low credit score, you should consider taking a logbook loan. So long as you don’t default in payments, the reflection on your credit report will be a positive one. In fact, it’s a good step towards repairing your credit report.

Do I need to be in gainful employment to qualify for a logbook loan?

What we require at Green Dragon Loans is proof of income. You could be employed, self employed or even working part time. So long as you can produce proof of income, we are more than happy to advance you a loan.

What is the standard waiting period before I can get access to my cash advance?

At Green Dragon Loans, we don’t like to keep you waiting. In fact, we understand that you badly need cash. As such, we make cash available to you within hours after approval.

Any hidden fees I need to worry about?

Green Dragon Loans is a transparent service provider and as such we endeavor to disclose all applicable fees before you can apply for your logbook loan. You need not worry about hidden fees as we don’t have any.

What is the mode and period of repayment?

Ordinarily, you determine the mode of repayment before you apply for a logbook loan. Depending on the amount you have applied for, the repayment period might differ from one person to another. However, we highly recommend repayment through direct debit monthly. It’s your job to ensure that money is within your account by that time. In addition, a debt collector may be tasked with collecting your monthly repayments. However, we do not recommend this as it will cost you extra. That notwithstanding, the ultimate choice is yours.

What happens if I am unable to make repayments on time?

At Green Dragon Loans, we understand that your circumstances might change unexpectedly. Should this be the case, you need to contact us immediately so that we can work out a repayment arrangement reflecting your new situation. However, should you go mum after we’ve made attempts to communicate with you on several occasions, we might be forced to repossess your car as a measure of last resort.