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First-Class Logbook Loans in Croydon

Enquire Online Today! - 01 Oct 2020

logbook loans Croydon

Logbook Loans Croydon


Get easy, convenient cash with Croydon logbook loans

Croydon logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. They’re fast too... if your car is free from finance your loan could be arranged and delivered the same day!

Other loans might slow you down with credit checks and hoops to jump through but not Croydon Logbook Loans, which is why they’re so popular. Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

You can do anything you like with the borrowed funds... why not pay off a few debts, treat yourself to a holiday or even give your cashflow a boost? Logbook Loans can provide you with the funds you need quickly and easily.

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.

Accessible loans: If you have had a loan refused before you’ll be pleased to know you could well qualify with a Logbook Loan.

Keep driving your car: Keep the keys and carry on driving your car whilst enjoying borrowing some of the value.

Apply easily online: Take only a minute to complete our application form. Thats all you need to do to apply for your Croydon Logbook Loan quote!

Any use loans: If you’re looking for a loan that doesn’t restrict what you can spend the money on then a Logbook Loan is for you.

Loan periods to suit you: All borrowing requirements differ from individual to individual, so chat to a specialist to discuss your needs and tailor a loan.

Our site makes it super-easy to apply for Croydon Logbook Loans too, in fact all you need to do is complete the short application form on this page with some basic information, you’ll then be contacted by a provider to discuss your loan requirements.

With our free no-obligation Croydon Logbook Loan quote service, why not find out how much you could borrow today?

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Croydon 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 Croydon

Borrowing Against a Classic or Prestigious Vehicle

Croydon owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Croydon logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional loan.

loans for self employed in Cambridgeshire

Self-Employed? You Could Still Borrow

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

Croydon 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 Croydon 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.

Unlock £400 - £50,000 From Your Car

Most lending requirements are covered by the amount you can borrow with a V5 loan. You can unlock up to 80% of your current car’s value (which can be anything from £400 up to £50,000). Here’s a table showing some typical borrowing amounts at 80%

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 Questions Answered

Though applying for your Croydon logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

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 Cambridgeshire 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.

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 are Logbook Loans a good idea?

They are often a good type of loan for Croydon borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Cambridgeshire V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Cambridgeshire residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Croydon loan application, simply enquire online using the form on this page.

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 Croydon 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.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Croydon applicants who can afford to make the monthly repayments. Croydon v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

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.

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.

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.

To find answers to any further queries you may have then simply get in touch today using the short form you can see above. You’ll be contacted by an advisor who can answer any questions you have to see if a V5 loan is for you.