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Easy Logbook Loans in Westoning

Enquire Online Today! - 15 Dec 2018

logbook loans Westoning

Logbook Loans Westoning


Need fast convenient cash? Westoning logbook loans are the answer

Westoning logbook loan quotes

If you’re looking to get a loan that’s convenient where you can still drive your car then this could be the solution for you! You could even have the money in your hand in less than a day if there is currently no finance on your vehicle!

Westoning Logbook Loans are a great way to secure yourself a loan whilst avoiding the usual hassles and checks that other loans need. Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

You can do anything you like with the borrowed funds... why not clear some outstanding debts, spend the money on a new holiday or anything else you like. Logbook Loans give you complete flexibility.

Risk-free quotes: Get a free no-obligation quote to see just how much you could release from the value of your car without having to commit.

Hassle-free loans: Frustrated at being turned down for loans before? Your credit history might not even be an issue with a Logbook Loan application.

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Westoning 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!

Loans that suit you: Get in touch with a specialist that can arrange your loan to suit your requirements. All lending requirements differ from person to person.

Thankfully applying for Westoning Logbook Loans couldn’t be more straightforward, in fact all you need to do is complete the short application form on this page with some basic information, you can then discuss your lending requirements further as a loan specialist will be in touch direct.

Free quotes for Westoning Logbook Loans are just around the corner, so apply online today to see how much you can lend!

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 Westoning

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 Westoning 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 Westoning logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional 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 Westoning 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.

Westoning business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Westoning business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

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

Loan Percentage Calculator

It’s simple to use our online loan calculator... just use the sliders below to set your car value and loan percentage.

7000
80%

£5600

FAQs About Westoning V5 Loans

If you’ve got any questions about Westoning 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

If you own a car and live in Bedfordshire, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

What will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your Bedfordshire residency, along with payslips or bank statements that show your income.

Why might a Logbook Loan be a good idea?

If you live in Westoning, 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 unemployed persons secure a Logbook Loan?

To be eligible for Westoning 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.

What about Bedfordshire residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Bedfordshire loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Westoning billing address, proof of identification, MOT certificate and proof of income.

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Westoning v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

Who is responsible for general car maintenance?

Although the loan is secured with your car, you get to keep your car throughout the duration of the loan as long as you make the payments on time as agreed. Because the car stays in your possession, it also stays under your car. You will be required to have regular MOT checks, to have the car serviced, and to maintain insurance on the car at all times. If you do not, or if anything should affect the car’s value (other than normal mileage and wear and tear), then you should contact your lender.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Bedfordshire lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £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 FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.