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Expert Logbook Loans in East Wickham

Enquire Online Today! - 20 Sep 2019

logbook loans East Wickham

Logbook Loans East Wickham


Your car is the answer to quick cash with East Wickham logbook loans

East Wickham logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. Providing that no finance is attached to your car you could even receive the funds agreed in under 24 hours of applying!

East Wickham Logbook Loans have become one of the most popular types of loans as you aren’t faced with the usual hassles and checks. Choosing to lend against your logbook could be the ideal solution particularly if you have been refused a loan elswhere.

You can even use your loan for any purpose 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.

Free quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

Hassle-free application: In order to qualify for a Logbook Loan you won’t need to jump through hoops unlike other loan types.

Keep driving: Stay mobile and drive your car as normal throughout the loan while you borrow the money with a Logbook Loan.

60 secs online application: The easy form you can see on this page is all you need to complete to get a free East Wickham Logbook Loan quote!

Your money: The amount you borrow with a Logbook Loan is yours to spend however you may like, the choice is entirely yours.

Loans that suit you: If you need to lend money over a longer duration then speak to the specialist who can factor in your own specific needs.

Our website makes it super-simple to apply for free East Wickham Logbook Loan quotes too, take just 60secs of your time to tell us about you and your car with our convenient online quote application form, we’ll then arrange for a Logbook Loan specialist to get in touch to discuss your lending requirements.

You could be receiving a free East Wickham Logbook Loan quote in no time at all, so why not apply online today!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other East Wickham 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 East Wickham

Prestigious, Classic and Vintage Cars

If you are a East Wickham classic car owner, or own a vintage or prestige car then you could still get a V5 loan. Based on the value of your vehicle you could borrow up to 80% of the current market value. So if you are the proud owner of a Bentley, Porsche, Maserati, Rolls-Royce or even a classic car then you can enquire in exactly the same way as any other car. Find out by enquiring online today.

no credit check East Wickham 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 Bexley

Are the Self-Employed Eligible to Borrow?

If you’re in East Wickham and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Bexley lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

East Wickham business v5 loans

What About Companies?

East Wickham business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

East Wickham Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Bexley.

7000
80%

£5600

FAQs - East Wickham V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your East Wickham logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How do Bexley V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where East Wickham borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with East Wickham residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

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 Bexley 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 a good idea?

They are often a good type of loan for East Wickham borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Bexley V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can unemployed persons secure a Logbook Loan?

To be eligible for East Wickham 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 Bexley loan, without delays. It’s part of a responsible lending culture amongst lenders.

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

What happens if I can’t prove my current income?

Bexley V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to East Wickham applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Bexley lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

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.