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Effortless Logbook Loans in New Beckenham

Enquire Online Today! - 01 Oct 2020

logbook loans New Beckenham

Logbook Loans New Beckenham


Release cash from your car with New Beckenham logbook loans

New Beckenham logbook loan quotes

Did you know you could borrow money against your car whilst still driving it? You borrow anything from £400 to £50,000 on the same day! The money can be yours in as little as 24 hours if your car is free from finance!

If you don’t want to jump through hoops and have your credit score checked then New Beckenham Logbook Loans are the obvious choice, and have become very popular. Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

You can do anything you like with the borrowed funds... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the chouce is yours and the money can be arranged quickly.

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!

Refused loans before? Have you been refused a loan elsewhere due to a bad credit history? No need to worry with a Logbook Loan.

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 online in 60secs: Our super-simple, online New Beckenham Logbook Loan quote application form will only take a minute to complete!

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

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 easier to apply for your New Beckenham Logbook Loan, simply complete our online form with a few basic details which will only take 60 seconds, a short time after your free Logbook Loan quote will be delivered to you direct by a specialist lender.

Find out just how much you could borrow against your car with a free New Beckenham Logbook Loan quote today!

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some New Beckenham lenders only let you borrow against cars under 8 years old, the Bromley lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in New 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 New 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 New Beckenham 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

Self-Employed - Do I Qualify?

It has long been a problem for the New 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.

New Beckenham business v5 loans

Logbook Loans and Businesses

A small New Beckenham business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

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

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

FAQs About New Beckenham V5 Loans

If you’ve got any questions about New Beckenham logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How do Bromley Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among New Beckenham residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Bromley residency, and income – and they’ll need it to get you approved.

Are New Beckenham Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Bromley residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can unemployed persons secure a Logbook Loan?

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

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Bromley lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all New Beckenham applicants are still credit checked, but may find this type of loan more accepting than others.

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 New Beckenham applicants who can afford to make the monthly repayments. New Beckenham 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.

Who is responsible for general car maintenance?

Although the loan is secured with your car, you get to keep your car throughout the duration of the loan as long as you make the payments on time as agreed. Because the car stays in your possession, it also stays under your car. You will be required to have regular MOT checks, to have the car serviced, and to maintain insurance on the car at all times. If you do not, or if anything should affect the car’s value (other than normal mileage and wear and tear), then you should contact your lender.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Bromley lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

To find answers to any further queries you may have then simply get in touch today using the short form you can see above. You’ll be contacted by an advisor who can answer any questions you have to see if a V5 loan is for you.