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Fast Logbook Loans in Petts Wood

Enquire Online Today! - 11 Dec 2019

logbook loans Petts Wood

Logbook Loans Petts Wood


Petts Wood logbook loans can unlock the value in your car

Petts Wood logbook loan quotes

You can lend anything from £400 right up to £50,000 on the same day and you can still carry on driving your car. If there is no existing finance attached to your vehicle then your loan amount could be delivered in under 24 hours!

Petts Wood Logbook Loans are perfect for those not wanting to undergo credit checks and jump through the hoops associated with other loan types. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

The borrowed money can also be used for whatever you like... some people choose to clear debts, others book a holiday with their loan. With Logbook Loans you can get access to the funds quickly and easily.

No risk quotes: With no commitment and no-obligation necessary why not get yourself a free quote to see how much you could loan?

Accessible loans: Logbook Loan applications don’t require masses of hoops to jump through, so if you’ve been declined before you may well be in luck!

Carry on driving: Borrow the agreed amount and also keep your car keys to stay mobile throughout the loan period!

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

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.

Flexible loans: Your borrowing needs are likely to differ from that of others, so apply online and speak to someone direct about your own individual needs.

It’s easy to apply for your Petts Wood Logbook Loan too, the application form you can see on this page is all you need to complete with a few details (no more than 60secs), a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

Free quotes for Petts Wood Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Petts Wood 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 Petts Wood

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Petts Wood 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 Petts Wood 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 Bromley

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most Bromley lenders want a guaranteed income. If you apply for Petts Wood car V5 loans however, the lender takes into consideration your vehicle being used as security for the payments so you may be eligible to borrow. In order to comply with responsible lending, you are still required to prove you can cover the monthly payments.

Petts Wood business v5 loans

What About Companies?

Petts Wood 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.

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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

Your Questions Answered

Though applying for your Petts Wood logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How do they work?

Quite simply the way Petts Wood 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 documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of Bromley residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Why are Logbook Loans a good idea?

They are often a good type of loan for Petts Wood borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Bromley V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Bromley residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Petts Wood loan application, simply enquire online using the form on this page.

Does my poor credit score affect my Petts Wood loan application?

A poor credit score normally means refusal for any other type of Bromley loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

I can’t prove my income, is that a problem?

Petts Wood V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional Bromley lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Bromley lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

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.