Auto Advance

81 reviews

300.3% Representative

Will lend between: £300 - £25,000

Over: 6 - 36 Months

Representative example: Borrowing £1000 over 12 months, repaying £163.34 monthly, total amount repayable £1960.08. Total cost of credit £1960.08.

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Auto Advance customer reviews.

81 reviews

4.6 out of 5 stars

Our review of Auto Advance

Auto Advance are one of the more expensive logbook loan providers on the market (at time of writing), and their offering is similar to their competitors. They do however, boast that the whole process could take as little as an hour. For this to happen you would need to be close to a branch already and have all the necessary information with you. If you do need cash quickly then there may be better lending options out there for you.

Customers are given a degree of flexibility with Auto Advance and can choose to make their repayments either weekly or monthly. They are also able to settle the loan early without incurring any fees, and there are no administration or set-up charges, so when speaking to the Auto Advance agent there shouldn’t be any financial surprises. Do make sure that you can afford the monthly repayments though, as if you fall behind you could run the risk of losing your vehicle and damaging your credit history.

Auto Advance highlight their positive online reviews on their website, which is no surprise as they have achieved a rating of ‘great’ from TrustPilot. The positive reviews mostly revolve around the speediness of their service and the level of customer service, however, there are some customers who are left dissatisfied with the higher interest rate.

Overall verdict: One of the more expensive logbook lenders with little additional benefit. Auto Advance offer a solid service but if you are looking for this type of finance then there are cheaper lenders out there with better customer reviews.

Written by: Alex

Highlights

  • Loans up to £5,000 can be paid in an hour
  • No fees for set-up or early repayment
  • Cars, vans and motorbikes all considered
  • 600 branches nationwide
  • Repayments either weekly or monthly

Minimum criteria

  • Your car must be free, or almost free from finance
  • The V5 must be in the applicant’s name
  • Vehicle must have valid tax, MOT and insurance
  • You need to be aged over 18

Fees

  • Maximum APR 300.3%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Auto Advance

Auto Advance offer secured logbook loans between £500 and £25,000 at a representative APR of 300.3%. Their loan terms can range from a minimum of six months to 36 months, depending on your circumstances and the loan amount and repayments can be made either weekly or monthly. Auto Advance customers will put their vehicle up as security against the loan, and in return for the V5 document will be given a Bill of Sale as confirmation.

The application process can be completed either online or over the phone, after this Auto Advance will contact you to explain the terms of the loan and arrange an appointment for you to bring your vehicle to one of their 600 branches, or a location chosen by the customer, in order for the agent to check the car. After the checks have been completed and the documentation processed, the loan can either be transferred to your bank account, or given in cash or cheque.

To be eligible for a logbook loan with Auto Advance your car must be free of finance. However, if you are close to making the final repayment then you can call them to discuss your options.

Company information

Registration number: 5305220

www.autoadvance.co.uk

45 Church Road, Ashford, Middlesex, TW15 2TY

FCA registration

Reference No: 565098

Trading names: Auto Advance, Cash and Cheque Express

Place of business: 45 Church Road, Ashford, Middlesex, TW15 2TY

Data protection registration

Registration No: Z8874000

Data controller: DTW ASSOCIATES LIMITED

Address: 45 Church Road, Ashford, Middlesex, TW15 2TY

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk