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Expert Logbook Loans in Lower Stondon

Enquire Online Today! - 15 Dec 2018

logbook loans Lower Stondon

Logbook Loans Lower Stondon


Release cash from your car with Lower Stondon logbook loans

Lower Stondon logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. You could receive the loan in less than a day providing your vehicle is finance-free.

Lower Stondon Logbook Loans have established themselves as one of the most popular loan types with no hoops to jump through or credit checks. If other loan providers are turning down your applications then why not try this type of loan? It could be the perfect solution.

Any money borrowed can be spent on anything you like... some like to clear debts with the money whilst others spend it on holidays or a cashflow boost, with Logbook Loans the choice is yours.

No obligation: The obligation-free quotes you receive by applying online mean there is never any pressure to commit to a loan.

Hassle-free application: If your credit history has let you down on previous loan applications then don’t worry, you may still be eligible for a loan.

Keep driving your car: You can stay mobile whilst releasing value from your car throughout your loan’s duration.

Apply online: Simply take a minute to complete our online quote application form to apply for your Lower Stondon Logbook Loan quote.

Your money: The loan is yours, so you can spend the money borrowed however you wish. You have total control over the money at your disposal.

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.

It’s easy to apply for your Lower Stondon Logbook Loan too, just take a moment (less than a minute) to complete our short online form with a few details, finally you will be contacted by a Logbook Loan specialist who can provide you with a free quote and further information.

Find out more about Lower Stondon Logbook Loans and discover how much you could loan by applying online for a free quote today!

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Lower Stondon lenders will limit the age of an eligible car to 8 years, but the lenders on our Bedfordshire network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Lower Stondon

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Lower Stondon classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Lower Stondon logbook loans

No Credit Check Logbook Loans?

Actually ’No Credit Check’ is in fact a misconception brought about by the fact that this type of loan can be more accepting of those with poor credit. When anyone applies for a loan they will be credit checked, however this shouldn’t put you off as you may still be eligible to borrow money as your car is used as security... making it a lower risk to the lender. Why not find out if you’re eligible for a loan?

loans for self employed in Bedfordshire

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most Bedfordshire lenders want a guaranteed income. If you apply for Lower Stondon car V5 loans however, the lender takes into consideration your vehicle being used as security for the payments so you may be eligible to borrow. In order to comply with responsible lending, you are still required to prove you can cover the monthly payments.

Lower Stondon 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 Stondon 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 Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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 Loan Calculator

Want to know how much you could borrow against your car in Lower Stondon? Use this handy calculator to show up to 80%.

7000
80%

£5600

FAQs About Lower Stondon V5 Loans

If you’ve got any questions about Lower Stondon 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.

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 ID and documents do I need?

Providing logbook lenders with proof of Bedfordshire residency, income, car ownership, and identity is vital when you enquire for a loan. It only takes a few minutes, and you can do all of this with a handful of documents. Your photo ID, logbook (or V5 document), current MOT, proof of insurance, a utility bill, and a bank statement or copies of payslips will suffice. Bear in mind that some lenders may ask for additional information for verification purposes, too.

Why opt for Lower Stondon Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Bedfordshire, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Lower Stondon loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can unemployed persons secure a Logbook Loan?

To be eligible for Lower Stondon loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Bedfordshire loan, without delays. It’s part of a responsible lending culture amongst lenders.

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 Lower Stondon 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 Lower Stondon 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.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

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.

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.