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First-Class Logbook Loans in Botley

Enquire Online Today! - 04 Dec 2020

logbook loans Botley

Logbook Loans Botley

Need fast convenient cash? Botley logbook loans are the answer

Botley logbook loan quotes

If you need anything from £400 up to £50,000 then this could be the answer... and you even get to carry on driving your car. They’re quick loans too... in fact providing your car is finance-free your money can be arranged in not time at all.

If you don’t want to jump through hoops and undergo credit checks to get your loan then Botley Logbook Loans are perfect for you. If other loan types have refused your application recently, then this could be the answer to your money lending needs.

Any money borrowed can be spent on anything you like... how about clearing some other debts, or putting some money aside for a holiday? The choice is entirely yours to do what you like with the money.

No obligation: The obligation-free quotes you receive by applying online mean there is never any pressure to commit to a loan.

Hassle-free loans: If you have had loan applications refused before because of poor credit history then you’ll love the fact that you might still be accepted!

Carry on driving: Lend money from the value of your car and carry on driving it at the same time with a Logbook Loan!

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

Any reason loans: Your loan is yours to spend however you wish, so if you want to clear some debts or go on holiday the choice is yours!

Flexible loans: An ’out-the-box’ loan solution might not meet your lending needs, so get in touch to discuss a Logbook Loan with an advisor today!

The process of applying for Botley Logbook Loans couldn’t be simpler too, the application form you can see on this page is all you need to complete with a few details (no more than 60secs), we will then arrange for a loan provider to get in touch with you to chat about your money lending needs.

Get an obligation-free quote for Botley Logbook Loans by applying online today. See how much you could lend!

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Botley lenders only let you borrow against cars under 8 years old, the Buckinghamshire lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Botley

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Botley and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Botley logbook loans

No Credit Check Logbook Loans?

Sadly this isn’t actually the case, and is a misconception about V5 loans but it shouldn’t put you off from enquiring. Even though all applicants are actually credit checked, because you are using your vehicle as security you may find that a V5 loan is more attainable than other forms of loan making them particularly popular with those with poorer credit histories. So if you’ve been refused in the past you may find this type of loan is your best option.

loans for self employed in Buckinghamshire

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Botley to get a loan as most lenders want to see a more secure income. Buckinghamshire Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Botley business v5 loans

Logbook Loans and Businesses

A small Botley business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

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 Value Calculator

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

7000
80%

£5600

Logbook Lending FAQs

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

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Buckinghamshire residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Buckinghamshire residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

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

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out Botley V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Buckinghamshire and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

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.

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, Botley 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.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Will a Logbook Loan show on a HPI check?

Buckinghamshire 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.

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.