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Quick Logbook Loans in Evanstown

Enquire Online Today! - 01 Oct 2020

logbook loans Evanstown

Logbook Loans Evanstown


Looking for quick cash? Evanstown logbook loans are for you

Evanstown logbook loan quotes

If you want to borrow money whilst remaining mobile then read on... you can lend up to £50,000 whilst still driving your car! You can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

If you don’t want to jump through hoops and undergo credit checks to get your loan then Evanstown Logbook Loans are perfect for you. If you are being declined loans from other providers then this type of loan might be the answer to your lending needs.

The money you release from your car can be used for any purpose... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the choice is yours and the money can often be arranged the same day.

No-risk quotations: There’s no risk involved in getting a free quote as you never have to commit. Find out how much you could borrow 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: Drive your car as per normal throughout the loan period whilst still benefitting from the borrowed money.

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

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Flexible loans: Loans that suit both your needs and budget can be arranged. Simply speak to the specialist to find out the very best deal for you.

Thankfully it’s a simple process applying for Evanstown Logbook Loans, all you need to do is tell us about yourself and your vehicle with our online quote application form, soon afterwards a specialist will get in touch with you direct

Find out more about Evanstown Logbook Loans and discover how much you could loan by applying online for a free quote today!

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Evanstown logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Evanstown

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Evanstown and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Evanstown logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Bridgend

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Bridgend lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Evanstown. You will still have to prove you can afford the repayments however.

Evanstown business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Evanstown 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.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples in the table 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 Value Calculator

Use the sliders to see how much you could lend against your logbook in Evanstown, up to a maximum 80%.

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding Evanstown 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 Bridgend, 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 Evanstown 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, Bridgend 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.

What about Evanstown 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 Bridgend 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 a poor credit score mean no loan?

If you have been refused a loan elsewhere in Bridgend, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Evanstown 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 income, is that a problem?

Evanstown 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 Bridgend 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.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

Will a Logbook Loan show on a HPI check?

Bridgend 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 do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.