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First-Class Logbook Loans in West Wickham

Enquire Online Today! - 29 Sep 2020

logbook loans West Wickham

Logbook Loans West Wickham


West Wickham logbook loans can unlock the value in your car

West Wickham 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? Frequently the agreed loans can be completed in under a day if the car has no finance attached!

With other loans you’ll be asked to jump through hoops and undergo credit checks which isn’t the case with West Wickham Logbook Loans. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

Any money released from your vehicle can be used for anything you like... Logbook Loans give you the freedom to spend your money freely so you could pay off some other debts or go on holiday, the choice is yours!

No obligation: There’s never any pressure to commit to the free quote provided, so find out the amount you could loan risk-free today!

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 your keys: Get a loan against the value of your car but keep the keys! You can carry on driving your car for the duration of the loan.

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

Any reason loans: You don’t have to justify your reason for wanting a loan, you can spend the money you borrow on anything you like.

Personalise your loans: A Logbook Loan is a flexible loan that can be tailored to suit your own needs. Get in touch to discuss your lending requirements.

It’s easy to apply for your West Wickham Logbook Loan too, take just 60secs of your time to tell us about you and your car with our convenient online quote application form, shortly after you will be contacted to discuss your loan requirements direct.

With our free no-obligation West Wickham Logbook Loan quote service, why not find out how much you could borrow today?

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 West Wickham 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 West Wickham

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in West Wickham then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check West Wickham 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

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Bromley lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in West Wickham. You will still have to prove you can afford the repayments however.

West Wickham 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 West Wickham 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.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples in the table 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 Percentage Calculator

It’s simple to use our online loan calculator... just use the sliders below to set your car value and loan percentage.

7000
80%

£5600

West Wickham V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your West Wickham logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How do West Wickham Logbook Loans work?

The way Bromley loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Bromley and are increasing in popularity with those with bad credit.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why might a Logbook Loan be a good idea?

If you live in West Wickham, 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.

Unemployed but want a Logbook Loan... is this possible?

West Wickham residents that find themselves unemployed but still want to take out a loan gainst there vehicle have to meet certain criteria in order to be successful. For instance you have to prove that the monthly loan repayments are affordable in order to avoid arrears and the possible loss of your car. Responsible Bromley lenders won’t grant loans to those who cannot afford the repayments. To find out more simply get in touch today!

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.

Do I qualify if I can’t prove my income?

To qualify for West Wickham V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Bromley.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

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 the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

If there are any other questions you would like answered then use the form above to get in touch direct to an advisor. They’ll help answer any queries you have and determine whether a V5 loan is the right solution for you.