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Fast Logbook Loans in Sonning

Enquire Online Today! - 20 Feb 2019

logbook loans Sonning

Logbook Loans Sonning


Lend cash from your car with Sonning logbook loans

Sonning logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. Providing that no finance is attached to your car you could even receive the funds agreed in under 24 hours of applying!

Now one of the most popular loan types available, Sonning Logbook Loans let you bypass the usual credit checks and annoying hoops to jump through. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

Whatever amount you borrow can be spent on anything you like... you might decide to pay off some debts or treat yourself to a holiday, with Logbook Loans you can get access to your funds very quickly.

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.

Accessible lending: There is no need to have perfect credit with V5 loans, making them one of the most accessible forms of loans available.

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

Easy online application: Just provide us with some basic information using our online form to apply for your Sonning Logbook Loan quote.

Any reason loans: Need a no-questions asked loan that you can spend however you like? A logbook loan gives you complete control over your money.

Flexible loans: An ’out-the-box’ loan solution might not meet your lending needs, so get in touch to discuss a Logbook Loan with an advisor today!

It’s simple to apply for Sonning Logbook Loans as well, it takes less than a minute to apply online using our short application form, an expert loan provider will then be in touch direct to provide more information and a free Logbook Loan quote.

You could be receiving a free Sonning Logbook Loan quote in no time at all, so why not apply online 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 Sonning lenders will limit the age of an eligible car to 8 years, but the lenders on our Berkshire 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 Sonning

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! Sonning 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 Sonning logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Berkshire

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Sonning lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Berkshire as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Sonning business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Sonning company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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

V5 Car Loan FAQs

There are a number of questions we receive regarding Sonning logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

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 Sonning 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 documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Berkshire residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

Why are Logbook Loans in Sonning 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 Sonning 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 I still get a V5 Loan even if i’m unemployed?

Yes, Berkshire residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Sonning loan application, simply enquire online using the form on this page.

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Sonning loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, Berkshire residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Berkshire loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

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

Sonning 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 should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Will my HPI check show any Logbook Loans?

All loans such as Sonning 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 do I have to repay?

Your loan can be arranged with three different repayment durations... 12, 18 or 36 months. Your interest is charged monthly, and there are no penalties for settling the loan early which means you can save money on the total amount payable.

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.