Enter Your Reg Click Here!

Quality Logbook Loans in Downley

Enquire Online Today! - 23 Sep 2020

logbook loans Downley

Logbook Loans Downley


Need fast convenient cash? Downley logbook loans are the answer

Downley logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. Your money can even be delivered in less than a day providing the criteria is met and there is no finance on the car.

Downley Logbook Loans have become one of the most popular ways to secure a loan without the usual credit-checks and hassles. Refused a loan in the past? Choosing this type of loan could be the answer to all your money lending needs.

Your loan can even be used for any reason you like... Logbook Loans give you the flexibility to pay of other loan amounts, go on holiday or just release some cashflow if you prefer.

Obligation-free quotes: You can apply for a free quote safe in the knowledge that there is never any pressure to commit.

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

Use your car: Carry on using your car as normal whilst still benefitting from the money you can borrow against it.

Apply in seconds: Downley Logbook Loan quotes are easy to apply for online, and only take a minute of your time to complete our form.

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Loans to suit you: Your new loan can be tailored to suit your own individual lending requirements, so get in touch to discuss your own lending needs.

Thankfully applying for Downley Logbook Loans couldn’t be more straightforward, just tell us about yourself and your vehicle using our quick online application form, a Logbook Loan provider will then contact you direct to discuss your requirements and to provide your obligation-free quote.

Get an obligation-free quote for Downley 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 Downley 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 Downley

Prestige, Vintage & Classic Vehicles

Any proud Downley 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 Downley logbook loans

No Credit Check Logbook Loans?

Actually ’No Credit Check’ is in fact a misconception brought about by the fact that this type of loan can be more accepting of those with poor credit. When anyone applies for a loan they will be credit checked, however this shouldn’t put you off as you may still be eligible to borrow money as your car is used as security... making it a lower risk to the lender. Why not find out if you’re eligible for a loan?

loans for self employed in Buckinghamshire

Are the Self-Employed Eligible to Borrow?

If you’re in Downley and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Buckinghamshire 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.

Downley business v5 loans

V5 Business Loans?

Whether you are the owner of your own small Downley business or you’re a sole proprietor, there are some instances in which you may be able to get a logbook loan on your company car. This is true if your car is registered in your name, or if your name is part of the company name. The best way to find out if you qualify is to enquire through a lender network, where you can be put in contact with a variety of lenders that may suit your needs.

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 Downley, up to a maximum 80%.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Downley V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

How do Downley Logbook Loans work?

The way Buckinghamshire 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 Buckinghamshire and are increasing in popularity with those with bad credit.

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, Buckinghamshire residency, and income – and they’ll need it to get you approved.

Why opt for Downley 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 Downley 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 Downley and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Downley borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Buckinghamshire lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Buckinghamshire lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

What happens if I can’t prove my current income?

Buckinghamshire V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Downley applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

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 HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Buckinghamshire lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

We hope these FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.