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Fast Logbook Loans in Horningsea

Enquire Online Today! - 01 Oct 2020

logbook loans Horningsea

Logbook Loans Horningsea

Unlock the value in your car easily with Horningsea logbook loans

Horningsea logbook loan quotes

Did you know that lending anything from £400 up to £50,000 and keeping on driving your vehicle is possible? You could receive the loan in less than a day providing your vehicle is finance-free.

Now amongst the most popular ways to secure a fast loans, Horningsea Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. If you’ve been refused a loan for whatever reason then this could well be your best way to obtain the funding you need.

It doesn’t matter what you want to do with your money... a Logbook Loan provides complete flexibility and the freedom to spend the money on anything from paying off other loans to going on holiday.

No-obligation quotes: You don’t have to commit to a loan, why not just get a free quote to see how much you could borrow against your car.

Refused loans before? If previous loan applications have been thwarted at the credit-check phase then you’ll be pleased to know that may not be an issue!

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

Apply online in 60secs: Applying for your Horningsea Logbook Loan quote takes just a minute and couldn’t be simpler.

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 loans: Your borrowing needs are likely to differ from that of others, so apply online and speak to someone direct about your own individual needs.

The process of applying for Horningsea Logbook Loans couldn’t be simpler too, our application form takes just 60 seconds to complete and that’s all you need to do, you will then be contacted by a specialist to discuss your lending needs further.

Discover how much you could be lending with Horningsea Logbook Loans, apply online today!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

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

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in Horningsea and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check Horningsea logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Cambridgeshire

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Horningsea lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Cambridgeshire as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Horningsea 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 Horningsea 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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

FAQs

If you have any questions regarding any element of Horningsea V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Horningsea residents can borrow depends on just how much their car is worth; some Cambridgeshire lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Cambridgeshire address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

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 Horningsea. 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 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. Horningsea 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.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Horningsea V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Cambridgeshire and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

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 Horningsea applicants who can afford to make the monthly repayments. Horningsea 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.

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.

Will my HPI check show any Logbook Loans?

All loans such as Horningsea V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires Cambridgeshire lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

What are the repayment durations?

You can choose to repay your loan in either 12, 18 or 36 month instalments. What’s more there is no penalty for settling your loan early so you could save money on monthly interest payments by repaying your loan sooner.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.