Enter Your Reg Click Here!

Easy Logbook Loans in Eastfield

Enquire Online Today! - 26 Jun 2019

logbook loans Eastfield

Logbook Loans Eastfield


Your car is the answer to quick cash with Eastfield logbook loans

Eastfield logbook loan quotes

Did you know that lending anything from £400 up to £50,000 and keeping on driving your vehicle is possible? Frequently the loan amounts can be paid out in under a day assuming that your car is free of any finance.

Eastfield Logbook Loans are fast becoming the most popular way of obtaining a loan without the hassles that other loans come with. Are other loan providers declining your applications? If so then enquiring online here could be the solution for you.

It doesn’t matter what you wish to spend the money on either... 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 no-risk quotes: Why not discover just how much you could borrow against the value of your car with a completely obligation-free quote!

Accessible loans: You won’t have to worry about a poor credit history too with a Logbook Loan as your application could well be approved.

Keep your keys: You can stay mobile by keeping on driving your car whilst benefitting from the amount borrowed.

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your Eastfield Logbook Loan quote.

Your money: The amount you borrow with a Logbook Loan is yours to spend however you may like, the choice is entirely yours.

Flexible loans: If you need a loan that can suit you and your own individual requirements, not an out-the-box solution then get in touch today.

Luckily our site makes it easy to apply for Eastfield Logbook Loans, just tell us about yourself and your vehicle using our quick online application form, you will then be contacted direct by a loan specialist to discuss your requirements further.

Get a free quote for Eastfield Logbook Loans by applying online now! Discover how much you could borrow today!

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Eastfield logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Eastfield

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Eastfield and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Eastfield 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 Bristol

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Bristol 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 Eastfield. You will still have to prove you can afford the repayments however.

Eastfield business v5 loans

What About Companies?

Eastfield business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Eastfield applicants.

How do Bristol V5 Logbook Loans work?

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

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 might a Logbook Loan be a good idea?

If you live in Eastfield, 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 Bristol 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.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Bristol residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Eastfield loan application, simply enquire online using the form on this page.

What about Bristol residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Bristol loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Eastfield billing address, proof of identification, MOT certificate and proof of income.

Do I qualify if I can’t prove my income?

To qualify for Eastfield V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Bristol.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Bristol lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.