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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

Professional and quick service

Excellent professional service with quick pay Reviewed on: 21st May 2019

Very professional

Varooma is a company that does process and customer service efficiently which is great. Reviewed on: 21st May 2019

Fast and easy service

Fast and easy service. Friendly agents would definitely recommend to friends or family. Money comes the same day. Affordable repayments. Very understanding of my needs Reviewed on: 21st May 2019

Wonderful

Really helpful and friendly. Always there to help if unable to make payment on time Reviewed on: 21st May 2019

Efficient

With such a straight forward, friendly and rapid approach to their work, Varooma ticked every box for me. Thank you for your great service! Reviewed on: 21st May 2019

Excellent communication standards

my review was short and straight to the point giving me confidence and surety Reviewed on: 21st May 2019

Great service, helpful in money situations

Varooma was there when I really needed them. Never had any issues everything went through fine. Nice chap I met signing up to them. I'm coming up to the end of my Varooma loan and it's been a great experience. Reviewed on: 21st May 2019

So easy to del with

A very pleasant company always on the end of phone to help with any problems and none agesvey if payment is a little late Reviewed on: 21st May 2019

Andrew andrew

Andrew I work with young adulthood Reviewed on: 20th May 2019

Great lender

A great lender that fives the most personable service i have ever seen Reviewed on: 20th May 2019

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