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Professional Logbook Loans in Cambourne

Enquire Online Today! - 01 Oct 2020

logbook loans Cambourne

Logbook Loans Cambourne


Need fast convenient cash? Cambourne logbook loans are the answer

Cambourne logbook loan quotes

If you need to lend money and still carry on driving your car then you could borrow up to £50,000 on the same day. In less than 24 hours you could receive your loan amount providing your car is free from finance.

Cambourne Logbook Loans don’t require you to undergo credit checks or jump through hoops unlike other loans, which is why they’re so popular! Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

Whatever amount you borrow can be spent on anything you like... a loan secured against your car gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

No commitment necessary: The quote you receive for your loan is completely obligation-free, so why not just find out the amount available to you?

Accessible loans: Logbook Loan applications don’t require masses of hoops to jump through, so if you’ve been declined before you may well be in luck!

Continue driving: You can continue to drive your car as normal for the entire loan duration whilst lending money against it with a Logbook Loan.

Apply online: The form you can see above is all you ned to complete in order to apply for your free Cambourne Logbook Loan quote.

Your money to spend: You can spend the money you borrow on absolutely anything you like. It’s yours to do whatever you want with!

Loans to suit you: You can arrange a loan that not only suits your lending needs, but suits your budget too. For instance longer repayment durations.

Thankfully applying for Cambourne Logbook Loans is a simple process, take just 60 seconds of your time to complete our online quote application form with some basic details, shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

Get your free quote today to see how much you could lend with Cambourne Logbook Loans!

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Cambourne logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Cambourne

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 Cambourne 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 Cambourne logbook loans

No Credit Check Logbook Loans?

Sadly this isn’t actually the case, and is a misconception about V5 loans but it shouldn’t put you off from enquiring. Even though all applicants are actually credit checked, because you are using your vehicle as security you may find that a V5 loan is more attainable than other forms of loan making them particularly popular with those with poorer credit histories. So if you’ve been refused in the past you may find this type of loan is your best option.

loans for self employed in Cambridgeshire

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Cambourne to get a loan as most lenders want to see a more secure income. Cambridgeshire Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Cambourne business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Cambourne company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

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

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

Cambourne V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Cambourne logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How do Cambridgeshire Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among Cambourne residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

What ID and documents do I need?

Providing logbook lenders with proof of Cambridgeshire residency, income, car ownership, and identity is vital when you enquire for a loan. It only takes a few minutes, and you can do all of this with a handful of documents. Your photo ID, logbook (or V5 document), current MOT, proof of insurance, a utility bill, and a bank statement or copies of payslips will suffice. Bear in mind that some lenders may ask for additional information for verification purposes, too.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Cambridgeshire logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Cambourne. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can unemployed Cambourne residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. Cambridgeshire V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Cambridgeshire, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Cambourne loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

Is it a problem if I can’t prove my income level?

In order to qualify for Cambourne logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Cambridgeshire V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

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 Cambridgeshire 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 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.

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.