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Expert Logbook Loans in North Wembley

Enquire Online Today! - 29 Sep 2020

logbook loans North Wembley

Logbook Loans North Wembley


Need fast convenient cash? North Wembley logbook loans are the answer

North Wembley logbook loan quotes

If you need to lend money and still carry on driving your car then you could borrow up to £50,000 on the same day. You could receive the loan in less than a day providing your vehicle is finance-free.

North Wembley Logbook Loans are an increasingly popular way of securing a loan as there are no hoops to jump through or embarrassing credit checks. Are other loan providers declining your applications? If so then enquiring online here could be the solution for you.

What’s more the money loaned can be spent on anything you fancy... from paying off some debts to paying for a holiday or even just a cashflow boost, Logbook Loans can offer you the funds you need almost instantly.

No commitment necessary: Why not get a free quote and see just how much money you could loan against your car’s value?

Hassle-free loans: If you have had loan applications refused before because of poor credit history then you’ll love the fact that you might still be accepted!

Keep driving: Not only do you get to borrow the agreed amount, but you can carry on driving the vehicle for the entire loan period!

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

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

Personalise your loans: A Logbook Loan is a flexible loan that can be tailored to suit your own needs. Get in touch to discuss your lending requirements.

Applying for your North Wembley Logbook Loan is simple, simply complete our online form with a few basic details which will only take 60 seconds, you will then be contacted direct by a loan specialist to discuss your requirements further.

With simple online application and free no-obligation North Wembley Logbook Loan quotes, why not see how much you could lend now!

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some North Wembley lenders only let you borrow against cars under 8 years old, the Brent lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in North Wembley

Borrowing Against a Classic or Prestigious Vehicle

North Wembley owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check North Wembley logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Brent

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most North Wembley 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 Brent 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.

North Wembley business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your North Wembley business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding North Wembley logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

How Logbook Loans work

If you own a car and live in Brent, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why are Logbook Loans a good idea?

They are often a good type of loan for North Wembley 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, Brent 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 North Wembley 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 Brent loan, without delays. It’s part of a responsible lending culture amongst lenders.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many North Wembley borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Brent lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Brent lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

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

Brent 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 North Wembley 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 should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Will a Logbook Loan show on a HPI check?

Brent lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you 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.

Hopefully these should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.