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Fast Logbook Loans in Papworth Everard

Enquire Online Today! - 25 Sep 2020

logbook loans Papworth Everard

Logbook Loans Papworth Everard


Papworth Everard logbook loans can unlock the value in your car

Papworth Everard logbook loan quotes

You could carry on driving your car and have anything from £400 to £50,000 in your account on the same day. The money can even be yours in less than 24 hours providing your car doesn’t have any finance attached to it!

Papworth Everard Logbook Loans have established themselves as one of the most popular loan types with no hoops to jump through or credit checks. If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

Your loan can even be used for any reason 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.

No obligation necessary: You don’t have to commit to a loan, so why not apply online to see how much you could be borrowing with a Logbook Loan?

Refused before? Been declined a loan before because of poor credit? Don’t worry this time as your application for a loan could still be accepted.

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!

Simple online application: Applying for a quote online for Papworth Everard Logbook Loans is simple and fast (less than 60secs to apply!).

Any reason loans: You don’t have to justify your reason for wanting a loan, you can spend the money you borrow on anything you like.

Personalise your loans: Discuss your individual lending requirements with a specialist to see just how a Logbook Loan can suit your needs.

Applying for Papworth Everard Logbook Loans is a simple straightforward process, our online quote application form only takes 60secs to complete and that’s all you need to do, a specialist will then be in touch direct to chat to you further regarding your lending requirements.

With free no-risk quotes available in minutes, why not discover just how much Papworth Everard Logbook Loans could allow you to 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 Papworth Everard 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 Papworth Everard

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 Papworth Everard 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 Papworth Everard logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Cambridgeshire

Refused Elsewhere Due To Self-Employment?

Obtaining a loan when you are self-employed in Papworth Everard can be difficult as it is often hard to prove income stability. A loan against a logbook could provide the funds you need as your car is used as security against the loan making it less-risky for Cambridgeshire lenders. Why not enquire online to discuss your lending needs? Please be aware that you need to demonstrate your ability to make repayments as part of responsible lending requirements.

Papworth Everard business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Papworth Everard business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

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

Calculate Your Loan Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

Papworth Everard V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Papworth Everard logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How do Cambridgeshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Papworth Everard 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 Papworth Everard residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What ID and documents do I need?

Providing logbook lenders with proof of Cambridgeshire residency, income, car ownership, and identity is vital when you enquire for a loan. It only takes a few minutes, and you can do all of this with a handful of documents. Your photo ID, logbook (or V5 document), current MOT, proof of insurance, a utility bill, and a bank statement or copies of payslips will suffice. Bear in mind that some lenders may ask for additional information for verification purposes, too.

What makes Papworth Everard Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Cambridgeshire applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Papworth Everard v5 loans can be a great idea. Get in touch to find out more.

Can unemployed persons secure a Logbook Loan?

To be eligible for Papworth Everard 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 my poor credit score affect my Papworth Everard loan application?

A poor credit score normally means refusal for any other type of Cambridgeshire loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

What happens if I can’t prove my current income?

Cambridgeshire V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Papworth Everard applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

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 V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.