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Expert Logbook Loans in Speedwell

Enquire Online Today! - 08 Jul 2020

logbook loans Speedwell

Logbook Loans Speedwell

Release cash from your car with Speedwell logbook loans

Speedwell 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 can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

Speedwell Logbook Loans have become one of the most popular types of loans as you aren’t faced with the usual hassles and checks. If other loan types have refused your application recently, then this could be the answer to your money lending needs.

You can spend any money you lend on anything you want... with a Logbook Loan you get complete freedom to do what you like with the money, so why not clear some debts or even go on a holiday?

No obligation: The obligation-free quotes you receive by applying online mean there is never any pressure to commit to a loan.

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.

Carry on driving: Release money from your vehicle whilst still keeping the keys and carrying on driving it with a Logbook Loan.

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Speedwell Logbook Loan quote.

Loans for any usage: You can use the money borrowed with a Logbook Loan for any purpose, you aren’t restricted in how you can spend the money.

Loans that suit you: All situations are different, so why not get in touch to discuss the very best lending option for your circumstances?

It couldn’t be more straightforward to apply for Speedwell Logbook Loans, the application form you can see on this page is all you need to complete with a few details (no more than 60secs), shortly after you will be contacted to discuss your loan requirements direct.

Why not get yourself a free Speedwell Logbook Loan quote to discover just how much you could borrow today?

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 Speedwell 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 Speedwell

V5 Loans For Classic and Prestigious Cars

If you are the lucky owner of a prestigious or classic car then this type of loan could still apply to you! Speedwell residents (if eligible) could get a loan against all makes and models including Aston Martin, Bentley, Rolls-Royce, Porsche and Ferrari not to mention vintage models. The loan amounts are based upon the value of your vehicle, so most older models are considered.

no credit check Speedwell 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-Employed - Do I Qualify?

It has long been a problem for the Speedwell self-employed to qualify for any type of loan as most Bristol lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Speedwell business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Speedwell 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.

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

Calculate Your Loan Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning Speedwell logbook loans.

How do they work?

Quite simply the way Speedwell Logbook Loans work is that you use your car as security in order to receive a loan against the value of it. In order to receive the loan you need to own the car yourself (or have very little finance on it) then hand over the V5 document in exchange for an agreed amount of up to 80% of the car’s value. You can carry on driving your car throughout the loan period, and once repaid your V5 document is returned to you. They are particularly popular in Bristol as they can often be available to residents with poor credit scores.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Bristol residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Why opt for Speedwell Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Bristol, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Speedwell loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can unemployed persons secure a Logbook Loan?

To be eligible for Speedwell 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.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Speedwell V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Bristol and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

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

Bristol 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 Speedwell 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.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Will my HPI check show any Logbook Loans?

All loans such as Speedwell V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires Bristol lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

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.