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Professional Logbook Loans in Orpington

Enquire Online Today! - 29 Sep 2020

logbook loans Orpington

Logbook Loans Orpington


Orpington logbook loans can unlock the value in your car

Orpington 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. Your money can even be delivered in less than a day if your vehicle has no finance attached.

Orpington Logbook Loans are one of the fastest growing loan types for those not wanting to jump through hoops and undergo credit checks. If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

The money you borrow is yours to spend on anything your like... a Logbook Loan provides complete flexibility over you money, so you can spend it on anything you like from clearing debts to foreign holidays!

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

Continue to drive: Continue driving the vehicle you are borrowing against for the whole loan period. Benefit from both the money and the keys!

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Orpington Logbook Loan quote!

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Personalise your loans: Discuss your individual lending requirements with a specialist to see just how a Logbook Loan can suit your needs.

It couldn’t be more straightforward to apply for Orpington Logbook Loans, just take a minute of your time to complete our short online application form with a few details, you will then be contacted by a specialist to discuss your lending needs further.

With simple online application and free no-obligation Orpington Logbook Loan quotes, why not see how much you could lend now!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Orpington lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Orpington

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Orpington and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Orpington logbook loans

No Credit Check Logbook Loans?

Not true unfortunately, however don’t let that put you off! Even though all applicants are credit checked you may find that these loans are more attainable as your car is used as security for the duration of the loan, which is why people can often be accepted when they have been denied more traditional loans. So if you’ve been denied a loan before due to a poor credit score then give a V5 loan a try and find out today.

loans for self employed in Bromley

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Orpington lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Bromley as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Orpington business v5 loans

What About Companies?

Orpington 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 Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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 Orpington applicants.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Orpington residents can borrow depends on just how much their car is worth; some Bromley lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

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.

What makes a V5 Logbook Loan a good idea?

If you are struggling to get approved for a loan in Bromley because you have bad credit, you should consider applying for a V5 document loan. With these type of loans, all credit is considered. Whether you’ve bad credit score due to missed payments or such other defaults, it might not matter; so long as you live in Bromley, own a car or have very little finance you simply need to avail the logbook, and you can obtain a loan quickly.

Can unemployed persons secure a Logbook Loan?

To be eligible for Orpington 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.

Does poor credit history affect Bromley applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Bromley residents are finding them very popular. As your car is used as security it makes the loan lower risk to the lender so they are more likely to agree to the loan. You will still have your credit checked, but the outcome is normally more positive than if you had tried for a loan elsewhere.

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Orpington v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

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.

Will a Logbook Loan show on a HPI check?

Bromley lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you up to £30,000.

How long do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

Should you have any further queries you can hear direct from an advisor by simply filling-in the form above. An advisor will be in touch direct to chat further about our lending requirements and whether a V5 loan is suitable for your needs.