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Quality Logbook Loans in Bromham

Enquire Online Today! - 15 Dec 2018

logbook loans Bromham

Logbook Loans Bromham


Bromham logbook loans can unlock the value in your car

Bromham logbook loan quotes

If you want to keep on driving your car, but want to unlock some of the value from it then keep on reading. In less than 24 hours you could receive your loan amount providing your car is free from finance.

Rapidly becoming the most popular way to secure a loan, Bromham Logbook Loans bypass the usual credit checks and hoops to jump through. They can often be the ideal solution for those who have had loan applications declined before.

The money you borrow is yours to spend on anything your like... from paying off some debts to paying for a holiday or even just a cashflow boost, Logbook Loans can offer you the funds you need almost instantly.

No obligation necessary: You don’t have to commit to a loan, so why not apply online to see how much you could be borrowing with a Logbook Loan?

Poor credit history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Carry on driving: Lend money from the value of your car and carry on driving it at the same time with a Logbook Loan!

Apply easily online: The online Bromham Logbook Loan quote application process couldn’t be easier and won’t take more than a minute.

Loans for any usage: You can spend the money you borrow with a Logbook Loan on anything you like... from bills to holidays the freedom is yours!

Loans to suit you: Not all loans ’out the box’ suit everyone, so have a chat with an advisor to see how a Logbook Loan can work for your own situation.

Our site makes it super-easy to apply for Bromham Logbook Loans too, just provide us with some basic details regarding you and your car by completing the short application form on this page, finally you will be contacted by a Logbook Loan specialist who can provide you with a free quote and further information.

Discover how much you could be lending with Bromham Logbook Loans, apply online today!

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Bromham v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Bromham

V5 Loans For Classic and Prestigious Cars

If you are the lucky owner of a prestigious or classic car then this type of loan could still apply to you! Bromham residents (if eligible) could get a loan against all makes and models including Aston Martin, Bentley, Rolls-Royce, Porsche and Ferrari not to mention vintage models. The loan amounts are based upon the value of your vehicle, so most older models are considered.

no credit check Bromham logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Bedfordshire

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Bromham as most Bedfordshire lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Bromham business v5 loans

What About Companies?

Bromham business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Borrow Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look below:

Value of Car % Loan Loan Total
£500 80% £400
£1000 80% £800
£1500 80% £1200
£2000 80% £1600
£5000 80% £4000
£10000 80% £8000
£20000 80% £16000

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

Frequently Asked Questions

It’s only natural to have a number of questions regarding V5 loans, so we have compiled a series of answers to the more frequently asked questions. Please get in touch to discuss any element of Bromham logbook loans further.

How do Bromham Logbook Loans work?

The way Bedfordshire loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Bedfordshire and are increasing in popularity with those with bad credit.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Bedfordshire address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

Why are Logbook Loans in Bromham a good idea?

This kind of loan is ideal for Bedfordshire residents who have bad credit score and have no other form of finance available to them. Regardless of how bad or poor your credit score history, there could be less chance of getting rejected. You simply need to meet the requirements, especially pertaining ownership of the car, and you could be approved for the loan. Your credit history might not be a negative factor when issuing the approval for your loan application. Generally, approval for lending against your Bromham vehicle mainly depends on the make or model of the car that you’re using as security. You can even get money on the same day!.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Bedfordshire loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in Bromham and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Bromham V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Bedfordshire and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

Do I qualify if I can’t prove my income?

To qualify for Bromham V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Bedfordshire.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Bedfordshire lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.