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Easy Logbook Loans in East Hyde

Enquire Online Today! - 15 Dec 2018

logbook loans East Hyde

Logbook Loans East Hyde


Unlock the value in your car easily with East Hyde logbook loans

East Hyde logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. Frequently the agreed loans can be completed in under a day if the car has no finance attached!

As one of the fastest growing ways to secure a loan, East Hyde Logbook Loans don’t require credit checks or hoops to jump through. If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

The money borrowed can be spent on anything you like too... perhaps you want to clear some of your debts, book a dream holiday or even simply to bost your cashflow a Logbook Loan can provide the money needed very quickly.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

Been refused before? Your credit history won’t necessarily end your loan application, making Logbook Loans accessible to more people.

Stay mobile: Drive your car for the entire loan period whilst receiving the money loaned against it with a Logbook Loan.

Easy online application: Just provide us with some basic information using our online form to apply for your East Hyde Logbook Loan quote.

Any use loans: Your new Logbook Loan amount can be spent on anything that you want, there are no restrictions on how you spend your new loan.

Personalise your loans: Discuss your individual lending requirements with a specialist to see just how a Logbook Loan can suit your needs.

Getting East Hyde Logbook Loan quotes is super easy too, simply complete our online form with a few basic details which will only take 60 seconds, a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Apply online today to see just how much money you can release with East Hyde Logbook Loans!

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other East Hyde V5 lenders. Many other Bedfordshire companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in East Hyde

Borrowing Against a Classic or Prestigious Vehicle

East Hyde owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check East Hyde logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in Bedfordshire

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most East Hyde lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Bedfordshire as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

East Hyde business v5 loans

Can a Business Get a Loan?

Logbook loans are available for East Hyde businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at the table 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

Bedfordshire Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

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 East Hyde logbook loans further.

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Bedfordshire residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Bedfordshire residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

Why are Logbook Loans a good idea?

They are often a good type of loan for East Hyde borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Bedfordshire V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Bedfordshire personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. East Hyde Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in East Hyde. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Bedfordshire.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to East Hyde applicants who can afford to make the monthly repayments. East Hyde v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

If there are any other questions you would like answered then use the form above to get in touch direct to an advisor. They’ll help answer any queries you have and determine whether a V5 loan is the right solution for you.