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Quality Logbook Loans in Crayford

Enquire Online Today! - 18 Nov 2019

logbook loans Crayford

Logbook Loans Crayford


Unlock the value in your car easily with Crayford logbook loans

Crayford 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 there is no existing finance attached to your vehicle then your loan amount could be delivered in under 24 hours!

One of the fastest growing and most popular types of loan, Crayford Logbook Loans bypass the usual credit checks and obstacles that other loans require. They could be the perfect lending solution if you have had a loan application refused in the past.

You can do anything you like with the borrowed funds... the choice is yours, you could clear some other debts or go on a dream holiday. Logbook Loans give you the flexibility and freedom to decide yourself.

No obligation: Hundreds of people apply for a free quote every single day! Why not get your free no-obligation quote today?

Poor credit? If you’ve been refused a loan elsewhere due to bad credit ratings then try a Logbook Loan which can be far more accepting.

Continue to drive: A Logbook Loan lets you borrow money whilst keeping the car keys, so you can continue to drive for the 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 Crayford Logbook Loan quote!

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Flexible loans: If you need a loan that can suit you and your own individual requirements, not an out-the-box solution then get in touch today.

It couldn’t be more straightforward to apply for Crayford Logbook Loans, the application form you can see on this page is all you need to complete with a few details (no more than 60secs), we’ll then arrange for a Logbook Loan specialist to get in touch to discuss your lending requirements.

Why not get yourself a free Crayford Logbook Loan quote to discover just how much you could borrow today?

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Crayford lenders might limit the borrowing to cars under 8 years of age, the lenders on our Bexley network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Crayford

Prestige, Vintage & Classic Vehicles

Any proud Crayford owners of either a classic, prestige or vintage car can be eligible to take out a loan too. As each and every loan is based around the current value of your vehicle then high-end vehicles such as Rolls-Royce, Bentley, Aston Martin or classic cars such as Mercedes, Morgan can qualify as they are still desirable in the current market. The application to borrow against a more prestigious car is exactly the same.

no credit check Crayford 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 Bexley

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most Bexley lenders want a guaranteed income. If you apply for Crayford 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.

Crayford business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Crayford 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.

Unlock £400 - £50,000 From Your Car

Most lending requirements are covered by the amount you can borrow with a V5 loan. You can unlock up to 80% of your current car’s value (which can be anything from £400 up to £50,000). Here’s a table showing some typical borrowing amounts at 80%

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

Your Questions Answered

Though applying for your Crayford 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 they work?

Quite simply the way Crayford Logbook Loans work is that you use your car as security in order to receive a loan against the value of it. In order to receive the loan you need to own the car yourself (or have very little finance on it) then hand over the V5 document in exchange for an agreed amount of up to 80% of the car’s value. You can carry on driving your car throughout the loan period, and once repaid your V5 document is returned to you. They are particularly popular in Bexley as they can often be available to residents with poor 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 Bexley 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.

Are Bexley 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, Crayford 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 the unemployed secure a Logbook Loan?

Crayford 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 Bexley 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.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Bexley lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Crayford applicants are still credit checked, but may find this type of loan more accepting than others.

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

Crayford 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 Bexley 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.

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.

Do V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

If there are any other questions you would like answered then use the form above to get in touch direct to an advisor. They’ll help answer any queries you have and determine whether a V5 loan is the right solution for you.