(1). What are the types of cars do you accept?
At Step Loans, we accept literally all types and brands of cars. As long as it’s less than 10 years in age and is free of any financing, you are welcome to apply for a suitable logbook loan deal for your needs.
(2). Can I still apply even if I am self-employed?
Yes, you can still apply even if you’re self-employed or working part-time. We just need to know that you have a steady income per month to verify that you can afford the monthly repayments.
(3). Do you have any hidden fees?
All fees associated to the logbook loan at Step Loans are disclosed to customers. Charges and fees such as early and late repayments are also thoroughly discussed on the fine print.
(4). What happens if I can’t repay the loan?
In the event that you can’t keep up with the monthly repayments, we recommend that you contact us immediately. We can set-up a new payment arrangement that will suit your financial circumstance. If you fail to respond to our attempts, however, vehicle repossession is the next step in the process.
(5). How do I repay for the loan?
The loan is typically repaid monthly via direct debit deduction. This is set-up before the loan approval is completed. Make sure your debit account always has sufficient balance to cover for your monthly repayment to avoid extra charges and fees.
(6). How much can I borrow?
With Step Loans, you can borrow from £500 to £50,000 or up to 70% of your car’s official trade value. The maximum amount you can borrow will also depend on your steady income as assessed by one of our specialists.
(7). Where can I use the money?
Step Loans does not require borrowers to disclose the reason behind the loan. As long as you meet the requirements, you are free to use the money anyway you want.
(8). Why don’t you run credit checks?
We do not run credit checks because we want to cater to borrowers with bad credit. No matter your credit history or score, Step Loans welcome you to apply for a logbook loan at our website online.