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Convenient Logbook Loans in Chatham

Enquire Online Today! - 20 Sep 2020

logbook loans Chatham

Logbook Loans Chatham


Unlock the value in your car easily with Chatham logbook loans

Chatham logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? The money can even be yours in less than 24 hours providing your car doesn’t have any finance attached to it!

Chatham Logbook Loans are now one of the most popular loan types because you don’t need to jump through hoops and undergo credit checks. If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

Any money borrowed can be spent on anything you like... why not clear some outstanding debts, spend the money on a new holiday or anything else you like. Logbook Loans give you complete flexibility.

No commitment necessary: There isn’t any commitment necessary on your behalf when you get your free quote, so there’s no risk in simply finding out.

No-hassle application: You don’t even have to jump through hoops in order to qualify for a loan. CCJs/Arrears can also be accepted!

Keep driving your car: You can stay mobile whilst releasing value from your car throughout your loan’s duration.

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

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.

Flexible loans: If you need a loan that can suit you and your own individual requirements, not an out-the-box solution then get in touch today.

Our site makes it super-easy to apply for Chatham Logbook Loans too, in fact all you need to do is complete the short application form on this page with some basic information, a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Discover how much you could be lending with Chatham Logbook Loans, apply online today!

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Chatham V5 lenders. Many other Caerphilly companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Chatham

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Chatham and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Chatham logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Caerphilly

Self-Employed? You Could Still Borrow

Most Caerphilly lenders want proof of regular income which makes it very difficult for the self-employed in Chatham 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!

Chatham business v5 loans

What About Companies?

Chatham business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

Calculate Your Loan

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Chatham 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 Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Chatham residents can borrow depends on just how much their car is worth; some Caerphilly lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

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

Can unemployed persons secure a Logbook Loan?

To be eligible for Chatham loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Caerphilly loan, without delays. It’s part of a responsible lending culture amongst lenders.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Chatham. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Caerphilly.

I can’t prove my income, is that a problem?

Chatham V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional Caerphilly lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

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 my HPI check show any Logbook Loans?

All loans such as Chatham V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires Caerphilly lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

What is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

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.