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Fast Logbook Loans in Elmhurst

Enquire Online Today! - 29 Sep 2020

logbook loans Elmhurst

Logbook Loans Elmhurst


Need fast convenient cash? Elmhurst logbook loans are the answer

Elmhurst logbook loan quotes

You could carry on driving your car and have anything from £400 to £50,000 in your account on the same day. You can even receive your money in as little as 24 hours if your car is free from any finance.

Elmhurst Logbook Loans are an increasingly popular way of securing a loan as there are no hoops to jump through or embarrassing credit checks. If other loan providers are turning down your applications then why not try this type of loan? It could be the perfect solution.

What’s more the money you release can be used for anything you like... why not clear some debts, book a holiday or simply give your cashflow a boost. Logbook Loans let you access the funds you require very quickly.

No commitment necessary: Why not get a free quote and see just how much money you could loan against your car’s value?

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 driving: Want to keep mobile whilst enjoying your new loan? You can keep on driving your car throughout the loan period with a Logbook Loan.

60secs to apply: You can apply for your Elmhurst Logbook Loan quote in less than a minute with just a few basic online details.

Your money: It’s your loan, and your money to spend however you please. You could clear some debts, go on holiday or buy something nice!

Loans that suit you: If you need to lend money over a longer duration then speak to the specialist who can factor in your own specific needs.

Thankfully our website makes it easy to apply for Elmhurst Logbook Loans, just complete our simple application form with some basic details about you and your vehicle, an expert loan provider will then be in touch direct to provide more information and a free Logbook Loan quote.

With free no-risk quotes available in minutes, why not discover just how much Elmhurst Logbook Loans could allow you to lend?

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Elmhurst logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Elmhurst

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Elmhurst classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Elmhurst logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Buckinghamshire

Self-Employed? You Could Still Borrow

Most Buckinghamshire lenders want proof of regular income which makes it very difficult for the self-employed in Elmhurst to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

Elmhurst business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Elmhurst 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.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Elmhurst Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Buckinghamshire.

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding Elmhurst logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

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.

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.

Are Elmhurst Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Buckinghamshire residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can the unemployed secure a Logbook Loan?

Elmhurst 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 Buckinghamshire 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.

What about Buckinghamshire residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Buckinghamshire loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Elmhurst billing address, proof of identification, MOT certificate and proof of income.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Elmhurst 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. Elmhurst 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.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Buckinghamshire lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial reimbursement of up to £30,000.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

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.