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Effortless Logbook Loans in Leckhampstead

Enquire Online Today! - 20 Jun 2019

logbook loans Leckhampstead

Logbook Loans Leckhampstead


Leckhampstead logbook loans can unlock the value in your car

Leckhampstead logbook loan quotes

If you need fast cash but also need to keep mobile then this could be the best loan for you. The loans can be arranged very quickly too... if your vehicle is finance-free you could get the money in just 24 hours!

One of the fastest growing and most popular types of loan, Leckhampstead Logbook Loans bypass the usual credit checks and obstacles that other loans require. If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

You can even spend the money on whatever you wish... from clearing some debts to giving your cashflow a boost a Logbook Loan can provide the funds you need almost immediately.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

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.

Continue to drive: Continue driving the vehicle you are borrowing against for the whole loan period. Benefit from both the money and the keys!

One minute application: Applying for your Leckhampstead Logbook Loan quote is simple, quick and can be done via our online form.

Any purpose: No matter what reason for you wanting to take out a Logbook Loan, the money you lend is yours to spend however you like.

Loans to suit you: Not all loans ’out the box’ suit everyone, so have a chat with an advisor to see how a Logbook Loan can work for your own situation.

Thankfully applying for Leckhampstead Logbook Loans is a simple process, just take a minute of your time to complete our short online application form with a few details, a specialist will then be in touch direct to chat to you further regarding your lending requirements.

With obligation-free quotes delivered direct, why not apply online to see how much you could lend with Leckhampstead Logbook Loans?

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 Berkshire 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 Leckhampstead

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 Leckhampstead 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 Leckhampstead 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 Berkshire

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Berkshire lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Leckhampstead. You will still have to prove you can afford the repayments however.

Leckhampstead business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Leckhampstead 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.

Release £400 - £50,000 From Your Vehicle

Below you can see a table of typical lending examples based on 80% of your car’s current value. The lending range can be anything from £400 up to £50,000 which should cover most borrowing requirements. Get in touch to see how much you could borrow:

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

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Leckhampstead applicants.

How Logbook Loans work

If you own a car and live in Berkshire, 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 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 Berkshire 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.

Why are Logbook Loans in Leckhampstead a good idea?

This kind of loan is ideal for Berkshire 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 Leckhampstead 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!.

Can the unemployed secure a Logbook Loan?

Leckhampstead individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Berkshire might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

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 Leckhampstead 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 Berkshire 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.

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

Leckhampstead 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 Berkshire 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.

Who is responsible for car maintenance?

Most logbook lenders will ask that you maintain your car so that the value remains the same (or close to the same) throughout the duration of the loan period. This maintenance includes regular servicing, MOT checks, and automobile insurance, among other things. You will need to notify your lender if anything reduces the value of your car significantly, including damage or mechanical problems. However, your lender will expect some additional mileage and the usual wear and tear throughout the loan term.

Will a Logbook Loan show on a HPI check?

Berkshire lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you up to £30,000.

How long do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.