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Quality Logbook Loans in Sidcup

Enquire Online Today! - 24 Jul 2019

logbook loans Sidcup

Logbook Loans Sidcup


If you need quick cash then Sidcup logbook loans are for you

Sidcup logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. The money can be yours in as little as 24 hours if your car is free from finance!

Now amongst the most popular ways to secure a fast loans, Sidcup Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. If any of your previous loan applications have been refused, then this could well be the ideal solution.

You can use the money you borrow on anything you want... why not pay off a few debts, treat yourself to a holiday or even give your cashflow a boost? Logbook Loans can provide you with the funds you need quickly and easily.

Free quotes: Apply online to get a free no-obligation quote. You don’t have to commit to any proposals, so why not apply today!

Refused loans before? Have you been refused a loan elsewhere due to a bad credit history? No need to worry with a Logbook Loan.

Keep driving: Want to keep mobile whilst enjoying your new loan? You can keep on driving your car throughout the loan period with a Logbook Loan.

One minute application: Applying for your no-obligation Sidcup Logbook Loan quote can be done online and only takes a minute!

Your money: The loan is yours, so you can spend the money borrowed however you wish. You have total control over the money at your disposal.

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!

Getting your free Sidcup Logbook Loan quote couldn’t be easier, you can see our short online application form on this page which takes less than a minute to fill-in, a Logbook Loan provider will then contact you direct to discuss your requirements and to provide your obligation-free quote.

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

logbook loans for older cars

Logbook Loans Cover Older Cars Too

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

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Sidcup and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Sidcup logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in Bexley

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Sidcup to get a loan as most lenders want to see a more secure income. Bexley Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Sidcup business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Sidcup 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

Sidcup 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

Sidcup V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Sidcup logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How do Bexley V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Sidcup 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 Sidcup 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.

Why might a Logbook Loan be a good idea?

If you live in Sidcup, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Bexley residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

What about Sidcup 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.

Does poor credit history affect Bexley applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Bexley residents are finding them very popular. As your car is used as security it makes the loan lower risk to the lender so they are more likely to agree to the loan. You will still have your credit checked, but the outcome is normally more positive than if you had tried for a loan elsewhere.

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

Sidcup 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.

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.

Will a Logbook Loan show up on a HPI check?

An HPI Check is a car check which is provided by HPI ltd. which scrutinises the history of motorised vehicles that are registered in UK including vans, motorbikes and cars. The HPI check report alerts you to any kind of worrying information that’s held against the car by insurance or finance companies, the police, the DVLA, and such other industry bodies. A loan against your car will show as a Bill of Sale Agreement. If for any reason it doesn’t show on a HPI check then the HPI guarantee will offer reimbursement of up to £30,000.

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.

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.