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Easy Logbook Loans in Benwick

Enquire Online Today! - 29 Sep 2020

logbook loans Benwick

Logbook Loans Benwick


Unlock the value in your car easily with Benwick logbook loans

Benwick logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. You can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

Other loan types will have you jumping through hoops and undergoing credit checks which you won’t have to do with Benwick Logbook Loans. Have you applied for other loans and been declined? You might be more likely to get the funds you require with this type of loan.

Any money released from your vehicle can be used for anything you like... maybe you want to go on holiday or need to boost your cashflow or perhaps you would like to repay some other debts, Logbook Loans provide you with money quickly.

Risk-free quotes: There’s no risk or commitment necessary when applying for a free quote. Why not find out how much you could lend?

Hassle-free: If you’re worried about your credit history affecting your loan application then a Logbook Loan could be the loan for you!

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

One minute application: Applying for your no-obligation Benwick Logbook Loan quote can be done online and only takes a minute!

Your money: The loan is yours, so you can spend the money borrowed however you wish. You have total control over the money at your disposal.

Personalise your loans: A Logbook Loan is a flexible loan that can be tailored to suit your own needs. Get in touch to discuss your lending requirements.

It’s easy to apply for your Benwick Logbook Loan too, you can see our short online application form on this page which takes less than a minute to fill-in, you will then be contacted by a specialist to discuss your lending needs further.

Why not discover just how much you could borrow with a free Benwick Logbook Loan quote today?

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Benwick lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Benwick

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Benwick then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Benwick logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Cambridgeshire

Self-Employment - Refused Elsewhere?

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

Benwick business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Benwick companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

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

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

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning Benwick logbook loans.

How do Benwick Logbook Loans work?

The way Cambridgeshire 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 Cambridgeshire 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, Cambridgeshire residency, and income – and they’ll need it to get you approved.

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

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Cambridgeshire personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Benwick Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

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 Benwick. 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 Cambridgeshire.

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

Benwick 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 Cambridgeshire 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.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Will a Logbook Loan show up on a HPI check?

An HPI Check is a car check which is provided by HPI ltd. which scrutinises the history of motorised vehicles that are registered in UK including vans, motorbikes and cars. The HPI check report alerts you to any kind of worrying information that’s held against the car by insurance or finance companies, the police, the DVLA, and such other industry bodies. A loan against your car will show as a Bill of Sale Agreement. If for any reason it doesn’t show on a HPI check then the HPI guarantee will offer reimbursement of 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.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.