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First-Rate Logbook Loans in West Heath

Enquire Online Today! - 22 Jul 2019

logbook loans West Heath

Logbook Loans West Heath


Release cash from your car with West Heath logbook loans

West Heath logbook loan quotes

Need to keep driving your car but want to unlock value from it? This could be the perfect solution for your borrowing needs. Your money can even be delivered in less than a day providing the criteria is met and there is no finance on the car.

West Heath Logbook Loans have established themselves as one of the most popular loan types with no hoops to jump through or credit checks. If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

You can spend any money you lend on anything you want... some spend the money on clearing debts, others on holidays or simply for additional cashflow. With Logbook Loans you can get access to funds quickly and easily.

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

Refused before? Been declined a loan before because of poor credit? Don’t worry this time as your application for a loan could still be accepted.

Keep on driving: Stay mobile with a Logbook Loan. Not only do you lend money, but you get to keep on driving your car!

60sec application: To apply online for your West Heath Logbook Loan quote takes less than a minute using our easy application form.

Loans for any usage: You can spend the money you borrow with a Logbook Loan on anything you like... from bills to holidays the freedom is yours!

Loan periods to suit you: Your loan can be tailored to suit your needs. Just chat to the specialist to see what options are available to you.

It’s easy to apply for your West Heath Logbook Loan too, the application form you can see on this page is all you need to complete with a few details (no more than 60secs), a loan provider will then get in touch direct to discuss your requirements further.

Get your free quote today to see how much you could lend with West Heath Logbook Loans!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

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

Prestige, Vintage & Classic Vehicles

Any proud West Heath 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 West Heath 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

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most West Heath 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 Bexley 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.

West Heath business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your West Heath business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding West Heath logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

How do Bexley Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among West Heath residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Bexley address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

Are Bexley Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. Bexley applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making West Heath V5 Loans a great idea for many.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Bexley loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in West Heath and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Bexley, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all West Heath loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to West Heath applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. West Heath v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

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.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.