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First-Rate Logbook Loans in Milton

Enquire Online Today! - 29 Sep 2020

logbook loans Milton

Logbook Loans Milton


Lend cash from your car with Milton logbook loans

Milton logbook loan quotes

If you’re looking to get a loan that’s convenient where you can still drive your car then this could be the solution for you! They’re quick loans too... in fact providing your car is finance-free your money can be arranged in not time at all.

Other loans might slow you down with credit checks and hoops to jump through but not Milton Logbook Loans, which is why they’re so popular. Have you ever had any of your previous loan applications refused? If so thses might be the perfect solution for you.

You can use the money you borrow on anything you want... with Logbook Loans you get complete control over you money so you can spend it on clearing debts, going on holiday or whatever you fancy!

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.

Poor credit? If you’ve been refused a loan elsewhere due to bad credit ratings then try a Logbook Loan which can be far more accepting.

Use your car: Keep on the road throughout the loan period with a Logbook Loan. You can borrow money and keep the keys to your car!

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Milton Logbook Loan quote!

Your money to use: It’s your loan, so your money to spend however you like. There are no restrictions on how you can spend your Logbook 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.

Fortunately it’s simple to apply for Milton Logbook Loans with our site, just tell us about yourself and your vehicle using our quick online application form, we’ll then arrange for a Logbook Loan expert to get in touch direct to discuss your application further.

Free quotes for Milton Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Get a Logbook Loan For Your Older Car

It’s true... your car may still be eligible for a loan even if it is older than the 8 year limit some other Cambridgeshire lenders impose. Your borrowing amount is based upon the value of your vehicle, so as long as it has some value it could well be eligible for a loan. Finding out if your car qualifies is easy too... just complete the short online form to see how much you could borrow with a V5 loan.

loans against classic, vintage and prestige cars in Milton

Borrowing Against a Classic or Prestigious Vehicle

Milton 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 Milton logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in Cambridgeshire

Are the Self-Employed Eligible to Borrow?

If you’re in Milton 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.

Milton business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Milton 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.

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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding Milton logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

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.

What should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Cambridgeshire residency, and some form of income validation that proves your ability to repay your obligation.

What makes a V5 Logbook Loan a good idea?

If you are struggling to get approved for a loan in Cambridgeshire because you have bad credit, you should consider applying for a V5 document loan. With these type of loans, all credit is considered. Whether you’ve bad credit score due to missed payments or such other defaults, it might not matter; so long as you live in Cambridgeshire, own a car or have very little finance you simply need to avail the logbook, and you can obtain a loan quickly.

What about Milton V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach Cambridgeshire logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

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 Milton. 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 Milton 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. Milton 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.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

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.

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.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.