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First-Rate Logbook Loans in Reading

Enquire Online Today! - 13 Dec 2019

logbook loans Reading

Logbook Loans Reading


Need fast convenient cash? Reading logbook loans are the answer

Reading logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? If you can has no finance attached to it you could access your loan in as little as 24 hours!

You don’t have to jump through hoops or undergo a lot of checks with Reading Logbook Loans either, which is why they’re so popular! If you are being declined loans from other providers then this type of loan might be the answer to your lending needs.

What’s more the money you release can be used for anything you like... 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.

Obligation-free quotes: You’re never obligated to accept the quote provided, so why not simply find out how much you could lend today?

No-hassle loans: If a previous loan has been refused elsewhere then don’t worry, there’s a good chance you’ll qualify even with CCJs or arrears

Keep mobile: It’s easy to stay mobile whilst still lending money against your car with a Logbook Loan. You can drive for the whole loan period!

One minute application: You can apply for your Reading Logbook Loan in les than a minute using our simple online quote form.

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

Personalise your loans: Your loan doesn’t come straight ’out the box’ and can be tailored to suit your own individual requirements. Speak to an expert today!

It’s really easy to apply for Reading Logbook Loans too, simply complete our online form with a few basic details which will only take 60 seconds, a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

With a free Reading Logbook Loan quote available in no time at all, why not apply online today to see how much you could borrow?

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Reading lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Reading

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Reading then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Reading logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Berkshire

Self-Employed - Do I Qualify?

It has long been a problem for the Reading self-employed to qualify for any type of loan as most Berkshire 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.

Reading 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 Reading 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.

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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

Logbook Lending FAQs

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

How do Berkshire Logbook Loans work exactly?

The principal of borrowing against your car (or a V5 loan) in Berkshire is very straightforward... you use the V5 document of your car as security for a loan against it. Typically you can borrow up to 80% of the car’s value and have a range or repayment durations available. An added bonus of this type of loan is that Reading applicants can continue to drive their vehicles throughout the loan period, an once the loan is repaid in full the V5 document is returned. V5 loans are particularly popular with those who have less than favourable credit scores.

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.

Are Berkshire V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Reading residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Berkshire personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Reading Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

What about Berkshire 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 Berkshire loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Reading billing address, proof of identification, MOT certificate and proof of income.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Berkshire can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Reading V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

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.

Will my HPI check show any Logbook Loans?

All loans such as Reading V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires Berkshire lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

To find answers to any further queries you may have then simply get in touch today using the short form you can see above. You’ll be contacted by an advisor who can answer any questions you have to see if a V5 loan is for you.