Enter Your Reg Click Here!

Easy Logbook Loans in Little Downham

Enquire Online Today! - 24 Nov 2020

logbook loans Little Downham

Logbook Loans Little Downham


If you need quick cash then Little Downham logbook loans are for you

Little Downham logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? They’re quick loans too... in fact providing your car is finance-free your money can be arranged in not time at all.

Little Downham Logbook Loans are now one of the most popular loan types because you don’t need to jump through hoops and undergo credit checks. Have any of your previous loan applications been refused? If so this could be the loan for you.

Whatever amount you borrow can be spent on anything you like... a Logbook Loan provides complete flexibility and the freedom to spend the money on anything from paying off other loans to going on holiday.

Free quotes: Apply online to get a free no-obligation quote. You don’t have to commit to any proposals, so why not apply today!

Poor credit history? If you have ever been declined a loan due to your credit history then you don’t have to worry, you may still be approved!

Stay mobile: Drive your car for the entire loan period whilst receiving the money loaned against it with a Logbook Loan.

Simple online application: It’s easy to apply online for your Little Downham Logbook Loan quote, just take a minute to complete our quick form.

Your money to spend: You can spend any money borrowed however you wish, you aren’t restricted in any way. Your loan, your money.

Personalise your loans: If you need a loan that can be tailored to your own individual circumstances then get in touch to discuss a Logbook Loan today!

Getting your Little Downham Logbook Loan quote couldn’t be more straightforward, all you need to do is tell us about yourself and your vehicle with our online quote application form, a short time after you apply you will be contacted direct to discuss your lending needs further.

You could be receiving a free Little Downham Logbook Loan quote in no time at all, so why not apply online today!

logbook loans for older cars

Logbook Loans For Older Cars?

Other Little Downham logbook lenders might limit the age of an eligible vehicle to just 8 years, but we base our loans on the value of the vehicle itself. That means even if your vehicle is slightly older it could still be eligible for a loan against it. With lending amounts from £400 up to £50,000 there’s a good chance that your vehicle will qualify and you will be able to lend against it. It’s simple to find out if you can borrow against an older vehicle, simply apply online.

loans against classic, vintage and prestige cars in Little Downham

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 Little Downham 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 Little Downham 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

Are the Self-Employed Eligible to Borrow?

If you’re in Little Downham and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Cambridgeshire lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

Little Downham business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your Little Downham business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

Borrow From £400 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

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 Little Downham 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 Little Downham 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.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Cambridgeshire residency, and income – and they’ll need it to get you approved.

Why opt for Little Downham Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Cambridgeshire, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Little Downham loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can unemployed persons secure a Logbook Loan?

To be eligible for Little Downham loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Cambridgeshire loan, without delays. It’s part of a responsible lending culture amongst lenders.

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 Little Downham 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.

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 Little Downham 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.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Cambridgeshire lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

How long do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

We hope these FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.