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Professional Logbook Loans in Lower Gravenhurst

Enquire Online Today! - 05 Jul 2020

logbook loans Lower Gravenhurst

Logbook Loans Lower Gravenhurst

Lend cash from your car with Lower Gravenhurst logbook loans

Lower Gravenhurst 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. Assuming your car is currently finance-free your loan can often be arranged quickly and your money provided within 24 hours!

Other loan types will have you jumping through hoops and undergoing credit checks which you won’t have to do with Lower Gravenhurst Logbook Loans. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

The money you release from your car can be used for any purpose... a Logbook Loan gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

No-risk quotations: Your free logbook loan quote is completely obligation-free so there’s no harm in finding out how much you could lend!

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 on driving: Need to lend some money and stay mobile? No problem with a Logbook Loan... borrow the money and keep your car keys!

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Lower Gravenhurst Logbook Loan quote.

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Flexible loan durations: Your loan can be tailored to your own specific circumstances, so have a chat with a Logbook Loan advisor today.

It’s simple to apply for Lower Gravenhurst Logbook Loans as well, just use the online form to provide us with some basic information about both yourself and your vehicle, a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

Why not apply online today to find out just how much you could lend with Lower Gravenhurst Logbook Loans.

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Lower Gravenhurst logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Lower Gravenhurst

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in Lower Gravenhurst and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check Lower Gravenhurst logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Bedfordshire

Self-Employed - Do I Qualify?

It has long been a problem for the Lower Gravenhurst self-employed to qualify for any type of loan as most Bedfordshire lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Lower Gravenhurst business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your Lower Gravenhurst business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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 Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding Lower Gravenhurst logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

How do Bedfordshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Lower Gravenhurst borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Lower Gravenhurst residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Bedfordshire residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Are Lower Gravenhurst Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Bedfordshire residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Bedfordshire residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Lower Gravenhurst loan application, simply enquire online using the form on this page.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Bedfordshire lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Lower Gravenhurst applicants are still credit checked, but may find this type of loan more accepting than others.

I can’t prove my income, is that a problem?

Lower Gravenhurst V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional Bedfordshire lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the 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 is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.