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First-Class Logbook Loans in Plaistow

Enquire Online Today! - 28 Sep 2020

logbook loans Plaistow

Logbook Loans Plaistow


Got a car and need quick cash? Try Plaistow logbook loans

Plaistow logbook loan quotes

Did you know that you can access anything from £400 to £50,000 from the value of your car whilst still driving it? If you have no existing finance on your car then you could be receiving your money within 24 hours of applying!

Rapidly becoming the most popular way to secure a loan, Plaistow Logbook Loans bypass the usual credit checks and hoops to jump through. Refused a loan in the past? Choosing this type of loan could be the answer to all your money lending needs.

Any money lent can be used for whatever reason you like... a Logbook Loan gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

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 history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your Plaistow Logbook Loan quote.

Your money to use: Spend your new loan on anything you fancy, from paying off other debts to buying a holiday you have complete freedom of choice.

Loans to suit you: You can arrange a loan that not only suits your lending needs, but suits your budget too. For instance longer repayment durations.

It couldn’t be easier to apply for Plaistow Logbook Loans with our site, the simple application form you can see on this page is all you need to fill-in with some basic details, you can then discuss your lending requirements further as a loan specialist will be in touch direct.

With completely free Plaistow Logbook Loan quotes available, why not find out just how much you could be lending?

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Plaistow lenders will limit the age of an eligible car to 8 years, but the lenders on our Bromley network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Plaistow

Borrowing Against a Classic or Prestigious Vehicle

Plaistow owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Plaistow logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not 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 Plaistow 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.

Plaistow business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your Plaistow business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

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

Loan Value Calculator

Use the sliders to see how much you could lend against your logbook in Plaistow, up to a maximum 80%.

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding Plaistow logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

How Logbook Loans work

If you own a car and live in Bromley, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

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.

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

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Bromley personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Plaistow Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

What if I can’t prove my income?

In order to be eligible for Plaistow V5 loans the lender needs to be sure that you can afford the repayments. Responsible lending is important to ensure you don’t fall into arrears or risk losing ownership of your vehicle, and if the lender cannot prove this then you won’t be offered a loan. In circumstances such as this it’s always best to get in touch direct using the form you can see on this page.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

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.

What periods of repayment are available?

In order to suit most repayment needs your loan can be repaid over 12,18 or even 36 months. As interest is charged monthly, there is no penalty for paying off your loan, so repaying your loan faster results in a reduction of the overall cost.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.