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Varooma (inactive company): Logbook loan (discontinued) reviews

Name: Logbook loan (discontinued)
Rating: 4.87 (729 reviews)

View other Varooma (inactive company) products

4.87

Based on 729 reviews, last reviewed 13th Sep 2019

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

91%

Latest highest rating:

5

Excellent efficient service from start to finish I have had two loans from Varooma. Each time I have received excellent service and friendly support. They are efficient and I receive my reminders... Read more Reviewed on: 6th August 2019

Latest lowest rating:

1

Terrible company Terrible company. I had had 5 or 6 loans previously with Varooma. All paid in full and on time. Therefore, assumed it would of been a foregone conclus... Read more Reviewed on: 13th September 2019

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About this product

Varooma (inactive company) Logbook loan (discontinued) reviews (729)

Review of the Varooma (inactive company), Logbook loan (discontinued):

AVOID AVOID AVOID !!!!!!!!!

I now know why they hassle you to write your review 1 day after taking out the loan, as obviously you will be happy with them at that point, but my god will that change. I seriously don't know how these guys can trade let alone be a member of the CCTA & FCA I fell into financial difficulty after taking out a £5k loan paying back £500 per month for 24 months, I took out my loan in January 2015 and have literally just had to sell my £11k BMW for £7k so they wouldn't repossess my car. They charged me over £3.5k in charges (not interest I’m talking about just charges) for according to them, SMS Charges @ £1.5 per text, one month they sent me 30 apparently, Outbound call charges £5 per time, Late payment charges £15, Default Notice Charges £15, Default notice reminder charge £15, Final Demand charge £15, Demand for payment notice charge £15, Recovery handling fee £75, Recover agent fee £475 (I SPOKE TO THE REPO AGENT AND HE SAID THEY DONT GET PAID UNTIL THE CAR IS REPOSSESED). They contacted me to say the car was out for repossession and I tried to negotiate a payment plan, however they weren't interested, they wouldn't hold the repossession and demanded I paid over £3k in arrears that day or someone would come to my work and take the car. I was 1 month behind 1 month!!! I eventually sold my car @ a £4k loss just to pay these. In total I borrowed £5000, I was 8 months into my loan and had paid back £3481.92 which was £518.08 shortfall (1 month basically) and they forced me to pay back another £6857.13 even though I was settling my loan 15 months early. In total I paid them £10338.92 for a £5k loan and only had it 8 months, that's £5338.92 profit in their back pocket. They target the venerable and nearly all the way through my loan except at the end they constantly emailed me offering further advances. I have an open case with the financial ombudsman Reviewed on: 30th June 2017

Very friendly

The person that came round was very friendly very professional Reviewed on: 29th May 2019

Efficient and straight forward

Excellent customer service very efficient and easy to understand process with very helpful field agents explaining all processes Reviewed on: 29th May 2019

Very friendly and quick

Even £50 off your first instalment although I’ve not had confirmation but still a great offer Reviewed on: 29th May 2019

Very fast and efficient

The whole process was fast and efficient the customer service was awesome Reviewed on: 29th May 2019

Trust worthy and affordable

I always find myself in sticky situation when it comes to the litttle things In life we can’t avoid, like a car payment or a faulty boiler......... every Time I use Varooma they are always quick and efficient and get back to me with any queries I have. I won’t get anywhere else as I know from using Varooma Just how helpful and good the service is Reviewed on: 29th May 2019

Pleasant and understanding

i had no rush for anything, no added stress, soneone that asked my questions not judged as soon as your asking for a loan Reviewed on: 27th May 2019

Good

Good company and fast service , would recommend Reviewed on: 24th May 2019

Worth looking

Easy very simple process quick service Reviewed on: 23rd May 2019

Quick affordable

Extremely helpful everything explain and very easy Reviewed on: 22nd May 2019

Very professional and understanding

Mike, your agent is a very understanding and professional person. Your company are also ready to listen and understand. Reviewed on: 22nd May 2019

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