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Easy Logbook Loans in Codmore

Enquire Online Today! - 26 Sep 2020

logbook loans Codmore

Logbook Loans Codmore


Codmore logbook loans can unlock the value in your car

Codmore logbook loan quotes

By lending against your vehicle you could unlock anything from £400 to £50,000 whilst still driving your car. You could receive the loan in less than a day providing your vehicle is finance-free.

Other loans might slow you down with credit checks and hoops to jump through but not Codmore Logbook Loans, which is why they’re so popular. Been declined a loan elsewhere? You could be eligible to borrow the funds you’ve been looking for.

It’s no problem what you want to use the borrowed money for... you might decide to pay off some debts or treat yourself to a holiday, with Logbook Loans you can get access to your funds very quickly.

No risk quotes: Your free logbook loan quote is totally obligation-free and therefore risk-free, so apply online today to see how much you could loan!

Accessible loans: If you have had a loan refused before you’ll be pleased to know you could well qualify with a Logbook Loan.

Carry on driving: Release money from your vehicle whilst still keeping the keys and carrying on driving it with a Logbook Loan.

60secs online application: You can apply for a quote for Codmore Logbook Loans in just a minute with our online application form!

Any purpose: No matter what reason for you wanting to take out a Logbook Loan, the money you lend is yours to spend however you like.

Loan periods to suit you: Your loan can be tailored to suit your needs. Just chat to the specialist to see what options are available to you.

Getting your Codmore Logbook Loan quote couldn’t be more straightforward, the quote application form on this page won’t take more than a minute to complete with some basic details, a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

Get a free quote for Codmore Logbook Loans by applying online now! Discover 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 Codmore lenders might limit the borrowing to cars under 8 years of age, the lenders on our Buckinghamshire 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 Codmore

Prestige, Vintage & Classic Vehicles

Any proud Codmore 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 Codmore logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Buckinghamshire

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Buckinghamshire 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 Codmore. You will still have to prove you can afford the repayments however.

Codmore business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Codmore business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

Logbook Lending FAQs

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

How do Buckinghamshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Codmore borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Codmore residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Buckinghamshire address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

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

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Buckinghamshire loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in Codmore and unemployed you still need to be able to prove that you can afford the repayments to qualify for the 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.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Codmore applicants who can afford to make the monthly repayments. Codmore v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

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 up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

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.