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Professional Logbook Loans in Chislehurst

Enquire Online Today! - 11 Dec 2019

logbook loans Chislehurst

Logbook Loans Chislehurst


Release cash from your car with Chislehurst logbook loans

Chislehurst logbook loan quotes

Need to borrow up to £50,000 whilst still driving your car? You can do this and receive money the same day!. What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

Rapidly becoming the most popular way to secure a loan, Chislehurst Logbook Loans bypass the usual credit checks and hoops to jump through. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

The money you lend can be used for any purpose you like... 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?

Risk-free quotes: There’s no risk or commitment necessary when applying for a free quote. Why not find out how much you could lend?

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!

Continue to drive: A Logbook Loan lets you borrow money whilst keeping the car keys, so you can continue to drive for the loan period.

60sec application: Applying for a free Chislehurst Logbook Loan quote is simple, and will only take you a minute of your time!

Loans for any purpose: Paying off debts? Holiday? Cashflow? No matter what your reason for wanting to loan, you have complete control over your money.

Loan periods to suit you: It’s no good getting a loan that doesn’t meet your needs, so get in touch to discuss the various options available to you today!

Luckily applying for Chislehurst Logbook Loans is a simple process, you only need to fill-in our online quote application form with some basic details about you and your car, a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

With completely free quotes why not discover how much Chislehurst Logbook Loans could allow you to loan?

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 Chislehurst 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 Chislehurst

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Chislehurst 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 Chislehurst logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Bromley

Refused Elsewhere Due To Self-Employment?

Obtaining a loan when you are self-employed in Chislehurst can be difficult as it is often hard to prove income stability. A loan against a logbook could provide the funds you need as your car is used as security against the loan making it less-risky for Bromley lenders. Why not enquire online to discuss your lending needs? Please be aware that you need to demonstrate your ability to make repayments as part of responsible lending requirements.

Chislehurst business v5 loans

What About Companies?

Chislehurst 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.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at 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

Bromley Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

7000
80%

£5600

FAQs - Chislehurst V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Chislehurst logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Bromley residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

What ID and documents do I need?

Providing logbook lenders with proof of Bromley residency, income, car ownership, and identity is vital when you enquire for a loan. It only takes a few minutes, and you can do all of this with a handful of documents. Your photo ID, logbook (or V5 document), current MOT, proof of insurance, a utility bill, and a bank statement or copies of payslips will suffice. Bear in mind that some lenders may ask for additional information for verification purposes, too.

Why opt for Chislehurst 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 Chislehurst loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can the unemployed secure a Logbook Loan?

Chislehurst individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Bromley might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

What about Bromley 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 Bromley loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Chislehurst billing address, proof of identification, MOT certificate and proof of income.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Chislehurst applicants who can afford to make the monthly repayments. Chislehurst v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

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 HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

What is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.