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Quick Logbook Loans in Bishopsworth

Enquire Online Today! - 25 Aug 2019

logbook loans Bishopsworth

Logbook Loans Bishopsworth


Release cash from your car with Bishopsworth logbook loans

Bishopsworth logbook loan quotes

You can lend anything from £400 right up to £50,000 on the same day and you can still carry on driving your car. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

Bishopsworth Logbook Loans have become one of the most popular types of loans as you aren’t faced with the usual hassles and checks. Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

What’s more the money you release can be used for anything you like... with Logbook Loans you get complete control over you money so you can spend it on clearing debts, going on holiday or whatever you fancy!

No obligation necessary: Join hundreds of people who apply for a free quote every single day! No risk and no-obligation necessary.

Poor credit history? Your credit may not affect your application, so if you’ve been thwarted before by other loans then this may not be an issue!

Carry on driving: Lend money from the value of your car and carry on driving it at the same time with a Logbook Loan!

Apply easily online: The online Bishopsworth Logbook Loan quote application process couldn’t be easier and won’t take more than a minute.

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Flexible loan durations: Your loans can be tailored to suit your own individual needs, speak to a specialist to see what can be arranged for you.

Getting your Bishopsworth Logbook Loan quote couldn’t be more straightforward, just take a minute of your time to complete our short online application form with a few details, a short time after your free Logbook Loan quote will be delivered to you direct by a specialist lender.

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

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Bishopsworth lenders will limit the age of an eligible car to 8 years, but the lenders on our Bristol network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Bishopsworth

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 Bishopsworth 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 Bishopsworth 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 Bristol

Self Employment - Refused Elsewhere?

Are you self-employed in Bishopsworth? Struggling to get a loan due to an irregular income? With a logbook document loan your vehicle is used as collateral against your loan repayments which provides more security for Bristol lenders. You may still be eligible for a loan even if you work for yourself. You will still need to prove that you can afford the repayments as part of a responsible lending approach, so get in touch to discuss your lending needs.

Bishopsworth business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Bishopsworth companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

Borrow From £400 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

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

Your Questions Answered

Though applying for your Bishopsworth 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 Bristol V5 Logbook Loans work?

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

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 Bristol 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.

What makes Bishopsworth Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Bristol applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Bishopsworth v5 loans can be a great idea. Get in touch to find out more.

Can unemployed persons secure a Logbook Loan?

To be eligible for Bishopsworth 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 Bristol loan, without delays. It’s part of a responsible lending culture amongst lenders.

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Bishopsworth loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, Bristol residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Bristol loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Bishopsworth v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

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 V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Bristol lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial reimbursement of up to £30,000.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

Should you have any further queries you can hear direct from an advisor by simply filling-in the form above. An advisor will be in touch direct to chat further about our lending requirements and whether a V5 loan is suitable for your needs.