Enter Your Reg Click Here!

Expert Logbook Loans in Shortlands

Enquire Online Today! - 29 Sep 2020

logbook loans Shortlands

Logbook Loans Shortlands


Get easy, convenient cash with Shortlands logbook loans

Shortlands logbook loan quotes

You could have anything from £400 to £50,000 on the same day whilst still carrying on driving your car. If your car is finance-free then there’s a good chance you could even receive your loan within 24 hours!

Now amongst the most popular ways to secure a fast loans, Shortlands Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. Have any of your previous loan applications been refused? If so this could be the loan for you.

What’s more the money loaned can be spent on anything you fancy... Logbook Loans let you have complete control over how you spend the money so youcan pay of other debts, take a holiday or anything else you prefer.

No commitment necessary: There isn’t any commitment necessary on your behalf when you get your free quote, so there’s no risk in simply finding out.

Refused loans before? If previous loan applications have been thwarted at the credit-check phase then you’ll be pleased to know that may not be an issue!

Keep on driving: Drive your car as per normal throughout the loan period whilst still benefitting from the borrowed money.

60secs online application: Just provide a few basic details about yourself and your car to apply online for your Shortlands Logbook Loan quote.

Loans for any purpose: Feel free to use your new loan for any purpose such as paying some other bills, going on holiday or just increasing cashflow.

Flexible loans: Have a chat to a specialist to see just how suitable a Logbook Loan can be to your own individual borrowing requirements.

It couldn’t be easier to apply for Shortlands Logbook Loans with our site, just tell us about yourself and your vehicle using our quick online application form, a loan expert will then get in contact with you direct to speak further about your Logbook Loan application.

Find out just how much you could borrow today with a free Shortlands Logbook Loan quote.

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Shortlands lenders might limit the borrowing to cars under 8 years of age, the lenders on our Bromley network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Shortlands

Prestige, Vintage & Classic Vehicles

Any proud Shortlands owners of either a classic, prestige or vintage car can be eligible to take out a loan too. As each and every loan is based around the current value of your vehicle then high-end vehicles such as Rolls-Royce, Bentley, Aston Martin or classic cars such as Mercedes, Morgan can qualify as they are still desirable in the current market. The application to borrow against a more prestigious car is exactly the same.

no credit check Shortlands 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

Are the Self-Employed Eligible to Borrow?

If you’re in Shortlands and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Bromley lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

Shortlands business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Shortlands company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

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

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

Logbook Lending FAQs

We receive a number of questions regarding Shortlands logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

How do they work?

Quite simply the way Shortlands 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 should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Bromley residency, and some form of income validation that proves your ability to repay your obligation.

Why might a Logbook Loan be a good idea?

If you live in Shortlands, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Bromley residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

Can the unemployed secure a Logbook Loan?

Shortlands 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.

Does my poor credit score affect my Shortlands 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 current income... does that matter?

Responsible lending entails only lending money to Shortlands applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Shortlands v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

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.

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.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.