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Easy Logbook Loans in Old Bexley

Enquire Online Today! - 23 Sep 2019

logbook loans Old Bexley

Logbook Loans Old Bexley


Lend cash from your car with Old Bexley logbook loans

Old Bexley 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. If you can has no finance attached to it you could access your loan in as little as 24 hours!

Rapidly becoming the most popular way to secure a loan, Old Bexley Logbook Loans bypass the usual credit checks and hoops to jump through. If any of your previous loan applications have been unsuccessful then this might be the best solution.

Furthermore any money borrowed can be spent however you like, on whatever you like... Logbook Loans offer utter flexibility and the freedom to do what you like such as pay off other loans or go on a holiday with the money.

No obligation: The obligation-free quotes you receive by applying online mean there is never any pressure to commit to a loan.

Poor credit history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Stay mobile: Drive your car for the entire loan period whilst receiving the money loaned against it with a Logbook Loan.

Apply in seconds: Take just a minute to complete our online form to apply for your Old Bexley Logbook Loan quote.

Your money to use: It’s your loan so you can spend the money as you see fit. Logbook Loans give you complete control over the money loaned.

Flexible loan periods: Whatever your borrowing requirements are there’s a good chance that a Logbook Loan will be suitable. Get in touch today to find out!

Getting your Old Bexley Logbook Loan quote couldn’t be more straightforward, all we need is some basic information about you and your car which you submit via our short online form, soon afterwards a specialist will get in touch with you direct

Free quotes for Old Bexley Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Old Bexley V5 lenders. Many other Bexley companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Old Bexley

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 Old Bexley 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 Old Bexley logbook loans

No Credit Check Logbook Loans?

Not true unfortunately, however don’t let that put you off! Even though all applicants are credit checked you may find that these loans are more attainable as your car is used as security for the duration of the loan, which is why people can often be accepted when they have been denied more traditional loans. So if you’ve been denied a loan before due to a poor credit score then give a V5 loan a try and find out today.

loans for self employed in Bexley

Self-Employed - Do I Qualify?

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

Old Bexley business v5 loans

Logbook Loans and Businesses

A small Old Bexley business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

Borrow Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look 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

Loan Percentage Calculator

It’s simple to use our online loan calculator... just use the sliders below to set your car value and loan percentage.

7000
80%

£5600

Your Questions Answered

Though applying for your Old Bexley 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 Bexley V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Old Bexley 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 Old Bexley residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Bexley residency, and income – and they’ll need it to get you 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, Old Bexley 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.

What about Old Bexley V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach Bexley logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Old Bexley. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Bexley.

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 Old Bexley 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.

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.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

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.