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First-Class Logbook Loans in Coton

Enquire Online Today! - 01 Oct 2020

logbook loans Coton

Logbook Loans Coton


Get easy, convenient cash with Coton logbook loans

Coton logbook loan quotes

If you still need to drive your car, but need access to same day money then you could borrow up to £50,000.. If you have no existing finance on your car then you could be receiving your money within 24 hours of applying!

With Coton Logbook Loans you aren’t required to undergo credit checks or jump through hoops like other loans making them incredibly 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.

It doesn’t matter what you wish to spend the money on either... with Logbook Loans you get complete control over you money so you can spend it on clearing debts, going on holiday or whatever you fancy!

No obligation necessary: Join hundreds of people who apply for a free quote every single day! No risk and no-obligation necessary.

Been refused before? Your credit history won’t necessarily end your loan application, making Logbook Loans accessible to more people.

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.

60sec application: To apply online for your Coton Logbook Loan quote takes less than a minute using our easy application form.

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

Flexible loan periods: Your V5 Loan can be tailored to fit in with your lifestyle and budget, chat with an advisor to see how you can make it work for you.

It’s a simple process to apply for your Coton Logbook Loan quote too, take just 60 seconds of your time to complete our online quote application form with some basic details, you’ll then be contacted by a provider to discuss your loan requirements.

Discover more about Coton Logbook Loans and get your free quote by applying online today!

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Coton lenders might limit the borrowing to cars under 8 years of age, the lenders on our Cambridgeshire network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Coton

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Coton and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Coton 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 Cambridgeshire

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Coton as most Cambridgeshire lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Coton business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Coton businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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

Coton V5 Logbook Loan FAQs

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

How do they work?

Quite simply the way Coton Logbook Loans work is that you use your car as security in order to receive a loan against the value of it. In order to receive the loan you need to own the car yourself (or have very little finance on it) then hand over the V5 document in exchange for an agreed amount of up to 80% of the car’s value. You can carry on driving your car throughout the loan period, and once repaid your V5 document is returned to you. They are particularly popular in Cambridgeshire as they can often be available to residents with poor credit scores.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Cambridgeshire residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

What makes a V5 Logbook Loan a good idea?

If you are struggling to get approved for a loan in Cambridgeshire because you have bad credit, you should consider applying for a V5 document loan. With these type of loans, all credit is considered. Whether you’ve bad credit score due to missed payments or such other defaults, it might not matter; so long as you live in Cambridgeshire, own a car or have very little finance you simply need to avail the logbook, and you can obtain a loan quickly.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Cambridgeshire 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 Coton and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Cambridgeshire lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Coton applicants are still credit checked, but may find this type of loan more accepting than others.

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

In order to qualify for Coton 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?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Cambridgeshire lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Hopefully these should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.