Hello,

This is to announce that Logbook Loans will be making a change to the programme terms and are increasing the standard commission from £10.00 to £14.00 on the closed network!

Following detailed analysis of the leads and loans submitted to date we identified that very few vehicles aged 10 years (registered in 1999/2000) hold sufficient value against which to write a loan. The quality of these leads are therefore proving to be very poor which is having a detrimental effect on the programme.

Therefore from 1st September 2009 Logbook Loans will only be able to accept leads where the vehicle is registered in the year 2001 or later. However, in recognition of the fact that some older vehicles do retain sufficient value (e.g. classic/prestige cars) vehicles registered in 1999/2000 will be accepted providing the CAP valuation meets a minimum of £1,200.

This valuation will be done automatically at the application stage and from 1st September, the application form will also change to request the vehicle mileage and registration number. If you are collecting data yourself you will need to consider this.

Our analysis found that around 30% of valid leads may be affected but we are able to increase the standard commission to £14.00 to compensate affiliates and in recognition that the overall quality of leads is likely to improve.

The changes have been designed to ensure the continuing long term success of the affiliate programme and it is hoped that the increase in commission will also help to ensure that affiliates continue to share in its success.

If you have any questions or concerns about the change please don’t hesitate to get in contact with us here at R.O.EYE on 0161 228 1228, or email me at richardw@ro-eye.co.uk.

If you would like to sign up to the closed network you can do so on the following link: Tracktor.

Best regards,
The Logbook Loans Team.