Enter Your Reg Click Here!

Expert Logbook Loans in Northill

Enquire Online Today! - 15 Dec 2018

logbook loans Northill

Logbook Loans Northill


Lend cash from your car with Northill logbook loans

Northill logbook loan quotes

If you need fast cash but also need to keep mobile then this could be the best loan for you. 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 Northill Logbook Loans. They could be the perfect lending solution if you have had a loan application refused in the past.

The money borrowed can be spent on anything you like too... Logbook Loans let you have complete control over how you spend the money so youcan pay of other debts, take a holiday or anything else you prefer.

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

Been refused before? If you’ve been thwarted before at the credit check stage when applying for loans then relax... V5 loans are amongst the most accessible loan types.

Continue driving: Keep driving your car for the entire loan period whilst still enjoying the money you borrow with a Logbook Loan.

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

Your money: It’s your loan, and your money to spend however you please. You could clear some debts, go on holiday or buy something nice!

Flexible loan periods: If you need to tailor your loan to suit your own requirements better then get in touch to speak to an expert about your lending needs.

It’s really easy to apply for Northill Logbook Loans too, just take a minute of your time to complete our short online application form with a few details, we’ll then arrange for a Logbook Loan expert to get in touch direct to discuss your application further.

Why not apply online today to find out just how much you could lend with Northill 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 Northill 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 Northill

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! Northill 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 Northill 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

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Northill 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.

Northill business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Northill business, you may be able to do so in one of two ways. First, you can enquire about a loan on a vehicle that is registered in your name; this is much the same as obtaining a personal logbook loan. Second, you can also use a company vehicle that is registered in the business’s name if the business name and your name match. You should always check with individual lenders for their policies.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples in 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

Northill 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

Your Questions Answered

Though applying for your Northill logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How do Bedfordshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Northill 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 Northill residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why might a Logbook Loan be a good idea?

If you live in Northill, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Bedfordshire residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

Can I qualify for Bedfordshire car logbook loans if I am unemployed?

If you live in Bedfordshire, are unemployed and are looking for a way to secure a personal loan, then you might be eligible to borrow against your car. As long as you own a car that’s registered in your name then you could qualify. However, it’s important to note that all Northill applicants have different situations, so it’s advisable to get in touch with the logbook lender. Also, as part of responsible lending, the loan applicant has to be able to prove that they can afford to make the loan repayments to avoid extra charges, late repayments and possible repossession of their vehicle.

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.

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

To qualify for Northill 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.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

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.

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.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.