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Easy Logbook Loans in Eastcotts

Enquire Online Today! - 15 Dec 2018

logbook loans Eastcotts

Logbook Loans Eastcotts


Got a car and need quick cash? Try Eastcotts logbook loans

Eastcotts logbook loan quotes

If you need to lend money and still carry on driving your car then you could borrow up to £50,000 on the same day. If you have no existing finance on your car then you could be receiving your money within 24 hours of applying!

Other loan types will have you jumping through hoops and undergoing credit checks which you won’t have to do with Eastcotts Logbook Loans. Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

The funds you release for your car can be used on anything... you might decide to pay off some debts or treat yourself to a holiday, with Logbook Loans you can get access to your funds very quickly.

No obligation necessary: There isn’t ever any pressure to take out a loan, so get yourself an obligation-free logbook loan quote today!

Poor credit history? If you have ever been declined a loan due to your credit history then you don’t have to worry, you may still be approved!

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

60secs online application: Just provide a few basic details about yourself and your car to apply online for your Eastcotts Logbook Loan quote.

Loans for any purpose: Your new loan amount is yours to spend however you like, whether it’s to pay off some other bills or to go on holiday!

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

Applying for your Eastcotts Logbook Loan is simple, all you need to do is tell us about yourself and your vehicle with our online quote application form, you then hear from a Logbook Loan provider who can assess your requirements and provide you with a free quote.

With completely free quotes why not discover how much Eastcotts Logbook Loans could allow you to loan?

logbook loans for older cars

Get a Logbook Loan For Your Older Car

It’s true... your car may still be eligible for a loan even if it is older than the 8 year limit some other Bedfordshire lenders impose. Your borrowing amount is based upon the value of your vehicle, so as long as it has some value it could well be eligible for a loan. Finding out if your car qualifies is easy too... just complete the short online form to see how much you could borrow with a V5 loan.

loans against classic, vintage and prestige cars in Eastcotts

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Eastcotts and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Eastcotts logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

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 Eastcotts 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.

Eastcotts business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Eastcotts 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

Eastcotts Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Bedfordshire.

7000
80%

£5600

FAQs About Eastcotts V5 Loans

If you’ve got any questions about Eastcotts logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Eastcotts residents can borrow depends on just how much their car is worth; some Bedfordshire lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

What documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of Bedfordshire residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Why are Logbook Loans in Eastcotts 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 Eastcotts 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!.

What about Eastcotts V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach Bedfordshire logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Eastcotts applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Eastcotts v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

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.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Bedfordshire lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial reimbursement of up to £30,000.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

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.