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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

Really good.

Good value. When we needed to sort out other Bill's. Reviewed on: 22nd May 2019

No faffing around

I needed some financial assistance and the whole process was hassle free and whenever I have called or emailed them the help and assistance has been amazing. Thank you. Reviewed on: 22nd May 2019

cash in a flash

all went quick and easy applied one day all sorted for next day Reviewed on: 21st May 2019

lifesavers

Varooma made it easy and quick to obtain a loan, they were lovely to arrange this with and made me feel valued instead of desperate like many other lenders. Would recommend them to everyone for their first class customer service, non judgmental approach and their quick and easy application process. Reviewed on: 21st May 2019

Very quick and lovely service

Very lovely service and very lovely people very helpful Reviewed on: 21st May 2019

FANTASTIC SERVICE

Great helpful staff, very quick to sort out a loan. Minimum paperwork. Reviewed on: 21st May 2019

Does what it says on the tin.

I have found the company friendly and the service excellent. Reviewed on: 21st May 2019

Friendly, hassle free

From the application process to agreement and money being paid, could not have been more simple and straightforward. The advisor explained everything and answered all my questions. Would definitely use again. Reviewed on: 21st May 2019

Nice and fast

Needed cash fast and called varooma problem solved. Reviewed on: 21st May 2019

I have told people about your service

Really good rates repayment are manageable Reviewed on: 21st May 2019

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