Logbook Money Car Finance Claim — Could You Be Owed Compensation?
Scheme status (updated 5 August 2026): parts of the FCA motor finance redress scheme are temporarily suspended while the Upper Tribunal considers legal challenges. Lenders do not currently have to calculate or pay compensation under the scheme, the original decision and payment dates no longer apply, and no payment under the scheme is guaranteed. If the scheme proceeds, first payments are expected in 2027 at the earliest. Any dates mentioned below were set before the suspension.
Logbook Money is a logbook loan lender — a product that is structured differently from standard PCP and HP car finance. This page explains what a logbook loan is, whether Logbook Money agreements fall within the FCA PS26/3 redress scheme, and what options are available to you if you believe your agreement was unfair.
Check your agreements on Recoup, our claim partner’s site
What Is a Logbook Loan?
A logbook loan is a type of secured loan where you borrow money against the value of a vehicle you already own. Unlike PCP or HP — which are used to purchase a vehicle — a logbook loan uses an existing vehicle as security. You keep driving the vehicle but temporarily transfer its ownership to the lender via a bill of sale until the loan is repaid. If you miss payments, the lender can repossess the vehicle.
Are Logbook Money Agreements Covered by PS26/3?
PS26/3 is specifically designed for regulated PCP and HP agreements used to purchase vehicles through dealer networks. Logbook loans are a different product type — they are secured loans against existing vehicles rather than purchase finance. As a result, logbook loan agreements are not automatically within the PS26/3 scheme in the same way as PCP and HP.
However, if your Logbook Money agreement involved a broker or dealer who earned an undisclosed commission from Logbook Money for introducing your business, and that commission arrangement was not disclosed to you, you may have grounds to complain under Section 140A of the Consumer Credit Act 1974 — the same unfair relationship principle that underpins PS26/3.
What You Can Do
- Submit a complaint to Logbook Money asking whether any commission was paid to a broker or introducer on your agreement and whether this was disclosed to you
- If Logbook Money confirms commission was paid and not disclosed, you can escalate to the Financial Ombudsman Service
- Check the FCA’s lender list at fca.org.uk/consumers/car-finance-complaints/list-lenders to see whether Logbook Money appears as a participating PS26/3 lender
If you also had a separate PCP or HP car finance agreement with a different lender between April 2007 and November 2024, that agreement is within PS26/3 and you should claim for it separately.
Scheme Timetable for PS26/3 (if applicable)Post-April 2014 agreements: Complain before 30 June 2026 → determination by 30 September 2026 → payment by November 2026
Pre-April 2014 agreements: Complain before 31 August 2026 → determination by 30 November 2026 → payment by January 2027
Final complaint deadline: 31 August 2027
Related Pages
Multiple Car Finance Agreements
Frequently Asked Questions
Is a logbook loan the same as PCP or HP?
No. A logbook loan is a secured loan against a vehicle you already own. PCP and HP are purchase finance agreements. PS26/3 covers PCP and HP. Logbook loans fall under different consumer credit provisions.
I also had a PCP agreement on a different car. Can I claim for that?
Yes. If you had a separate PCP or HP agreement between April 2007 and November 2024 with an FCA-regulated lender, that agreement is fully within PS26/3 regardless of any logbook loan you also held.
How do I find out if commission was paid on my Logbook Money agreement?
Submit a Subject Access Request (SAR) to Logbook Money asking for all data held about your agreement, including any commission paid to introducers or brokers. You are entitled to this information under UK GDPR.
Check If You Could Be Owed Compensation
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