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Expert Logbook Loans in Melbourn

Enquire Online Today! - 29 Nov 2020

logbook loans Melbourn

Logbook Loans Melbourn

Get easy, convenient cash with Melbourn logbook loans

Melbourn logbook loan quotes

You can lend anything from £400 right up to £50,000 on the same day and you can still carry on driving your car. Your money can even be delivered in less than a day if your vehicle has no finance attached.

Melbourn Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

The money you borrow is yours to spend on anything your like... with a Logbook Loan you get complete freedom to do what you like with the money, so why not clear some debts or even go on a holiday?

Free quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

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

Continue to drive: If keeping mobile is important to you then a Logbook Loan lets you borrow the money and keep hold of your car keys!

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

Your money: The loan is yours to spend however you wish, so if you have other debts to clear, want a holiday or anything else you can with a V5 loan.

Loans to suit you: Not all loans ’out the box’ suit everyone, so have a chat with an advisor to see how a Logbook Loan can work for your own situation.

It’s really easy to apply for Melbourn Logbook Loans too, you can see our short online application form on this page which takes less than a minute to fill-in, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

Get an obligation-free quote for Melbourn Logbook Loans by applying online today. See how much you could lend!

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Melbourn lenders will limit the age of an eligible car to 8 years, but the lenders on our Cambridgeshire network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Melbourn

Prestige, Vintage & Classic Vehicles

Any proud Melbourn owners of either a classic, prestige or vintage car can be eligible to take out a loan too. As each and every loan is based around the current value of your vehicle then high-end vehicles such as Rolls-Royce, Bentley, Aston Martin or classic cars such as Mercedes, Morgan can qualify as they are still desirable in the current market. The application to borrow against a more prestigious car is exactly the same.

no credit check Melbourn logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

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 Melbourn 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.

Melbourn business v5 loans

What About Companies?

Melbourn business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Borrow Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look 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 Value Calculator

Use the sliders to see how much you could lend against your logbook in Melbourn, up to a maximum 80%.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Melbourn 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 Melbourn 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 do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Cambridgeshire residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

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 Melbourn. 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 unemployed persons secure a Logbook Loan?

To be eligible for Melbourn 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.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Melbourn. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Cambridgeshire.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Melbourn applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Melbourn v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

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.

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.