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Convenient Logbook Loans in Beckenham

Enquire Online Today! - 25 Oct 2020

logbook loans Beckenham

Logbook Loans Beckenham


Lend cash from your car with Beckenham logbook loans

Beckenham logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. If you can has no finance attached to it you could access your loan in as little as 24 hours!

Beckenham Logbook Loans don’t require you to undergo credit checks or jump through hoops unlike other loans, which is why they’re so popular! Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

The funds you release for your car can be used on anything... with Logbook Loans you can clear some debts, go on a holiday or anything you like with the money. You have complete control over the money.

Obligation-free quotes: You can apply for a free quote safe in the knowledge that there is never any pressure to commit.

Hassle-free loans: Are you fed up of a less-than-perfect credit history ruining your loan applications? You’ll love the fact that V5 loans are very accessible.

Keep driving: Want to keep mobile whilst enjoying your new loan? You can keep on driving your car throughout the loan period with a Logbook Loan.

Apply easily online: Take only a minute to complete our application form. Thats all you need to do to apply for your Beckenham Logbook Loan quote!

Any reason loans: You don’t have to justify your reason for wanting a loan, you can spend the money you borrow on anything you like.

Loans that suit you: A loan needs to suit your own individual requirements, so have a chat with an advisor and see how a loan can be tailored to your needs.

Thankfully applying for Beckenham Logbook Loans is a simple process, 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.

Get an obligation-free quote for Beckenham Logbook Loans by applying online today. See how much you could lend!

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 Beckenham 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 Beckenham

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Beckenham and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Beckenham logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Bromley

Self-Employed - Do I Qualify?

It has long been a problem for the Beckenham self-employed to qualify for any type of loan as most Bromley 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.

Beckenham business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Beckenham businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

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

Calculate Your Loan

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

Frequently Asked Questions

It’s only natural to have a number of questions regarding V5 loans, so we have compiled a series of answers to the more frequently asked questions. Please get in touch to discuss any element of Beckenham logbook loans further.

How do they work?

Quite simply the way Beckenham 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 Bromley 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 Bromley 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 Beckenham 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 Bromley, 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 Beckenham loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

What about Beckenham 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 Bromley 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.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Beckenham borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Bromley 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 Bromley 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?

Bromley 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 Beckenham 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.

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 Bromley 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 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.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.