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Easy Logbook Loans in Fenstanton

Enquire Online Today! - 29 Sep 2020

logbook loans Fenstanton

Logbook Loans Fenstanton


Lend cash from your car with Fenstanton logbook loans

Fenstanton logbook loan quotes

Need to keep driving your car but want to unlock value from it? This could be the perfect solution for your borrowing needs. Your money can even be delivered in less than a day providing the criteria is met and there is no finance on the car.

Other loan types will have you jumping through hoops and undergoing credit checks which you won’t have to do with Fenstanton Logbook Loans. If you are being declined loans from other providers then this type of loan might be the answer to your lending needs.

Any funds borrowed against your vehicle can be used for any purpose... whether you want to clear off some debts, book a holiday or simply boost your cashflow a Logbook Loan can provide you with the required funds quickly.

No-obligation quotes: Why not join hundreds of others who apply for completely obligation-free logbook loan quotes to see how much they can borrow.

Accessible loans: You won’t have to worry about a poor credit history too with a Logbook Loan as your application could well be approved.

Keep driving: Not only do you get to borrow the agreed amount, but you can carry on driving the vehicle for the entire loan period!

60sec application: Applying for a free Fenstanton Logbook Loan quote is simple, and will only take you a minute of your time!

Your money to use: Spend your new loan on anything you fancy, from paying off other debts to buying a holiday you have complete freedom of choice.

Flexible loan durations: Your new loan needs to suit your lifestyle and budget, so get in touch to discuss the best possible options to suit your requirements.

It couldn’t be more straightforward to apply for Fenstanton Logbook Loans, just use the online form to provide us with some basic information about both yourself and your vehicle, we’ll then arrange for a Logbook Loan specialist to get in touch to discuss your lending requirements.

Apply online today to discover just how much you could borrow against your car with Fenstanton Logbook Loans.

logbook loans for older cars

Logbook Loans Cover Older Cars Too

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

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 Fenstanton 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 Fenstanton 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

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most Cambridgeshire lenders want a guaranteed income. If you apply for Fenstanton car V5 loans however, the lender takes into consideration your vehicle being used as security for the payments so you may be eligible to borrow. In order to comply with responsible lending, you are still required to prove you can cover the monthly payments.

Fenstanton business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Fenstanton 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.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at 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

Cambridgeshire Loan Calculator

Want to know how much you could borrow against your car in Fenstanton? Use this handy calculator to show up to 80%.

7000
80%

£5600

FAQs - Fenstanton V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Fenstanton logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How do Cambridgeshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Fenstanton borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Fenstanton residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

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 might a Logbook Loan be a good idea?

If you live in Fenstanton, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Cambridgeshire residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out Fenstanton V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Cambridgeshire and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

Does poor credit history affect Cambridgeshire applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Cambridgeshire residents are finding them very popular. As your car is used as security it makes the loan lower risk to the lender so they are more likely to agree to the loan. You will still have your credit checked, but the outcome is normally more positive than if you had tried for a loan elsewhere.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Cambridgeshire can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Fenstanton V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Cambridgeshire lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.