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First-Rate Logbook Loans in Soham Cotes

Enquire Online Today! - 28 Nov 2020

logbook loans Soham Cotes

Logbook Loans Soham Cotes


Your car is the answer to quick cash with Soham Cotes logbook loans

Soham Cotes logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. They’re quick loans too... in fact providing your car is finance-free your money can be arranged in not time at all.

As one of the fastest growing ways to secure a loan, Soham Cotes Logbook Loans don’t require credit checks or hoops to jump through. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

You can even use your loan for any purpose you like... perhaps you have some debts that need paying off or you want to go on holiday, with Logbook Loans your money is delivered quickly so you can do what you wish!

Risk-free quotes: Get a free no-obligation quote to see just how much you could release from the value of your car without having to commit.

Accessible loans: Logbook Loan applications don’t require masses of hoops to jump through, so if you’ve been declined before you may well be in luck!

Keep driving: Stay mobile and drive your car as normal throughout the loan while you borrow the money with a Logbook Loan.

Easy online application: Just provide us with some basic information using our online form to apply for your Soham Cotes Logbook Loan quote.

Your money: It’s your loan, and your money to spend however you please. You could clear some debts, go on holiday or buy something nice!

Flexible loans: Have a chat to a specialist to see just how suitable a Logbook Loan can be to your own individual borrowing requirements.

Thankfully applying for Soham Cotes Logbook Loans is a simple process, all we need is some basic information about you and your car which you submit via our short online form, you’ll then hear from a loan provider direct who will deliver your personalised quote.

With our free no-obligation Soham Cotes Logbook Loan quote service, why not find out how much you could borrow today?

logbook loans for older cars

Logbook Loans For Older Cars?

Other Soham Cotes 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 Soham Cotes

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Soham Cotes then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Soham Cotes logbook loans

No Credit Check Logbook Loans?

Not true unfortunately, however don’t let that put you off! Even though all applicants are credit checked you may find that these loans are more attainable as your car is used as security for the duration of the loan, which is why people can often be accepted when they have been denied more traditional loans. So if you’ve been denied a loan before due to a poor credit score then give a V5 loan a try and find out today.

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 Soham Cotes 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.

Soham Cotes business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Soham Cotes 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.

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 Value Calculator

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

7000
80%

£5600

Your Questions Answered

Though applying for your Soham Cotes logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How exactly do Cambridgeshire Logbook Loans work?

A loan using your V5 document is a loan that’s secured on your car, so the lender owns your car until you repay the loan. When taking out a loan of this type, you’ll be asked by the lender to hand over the car’s V5 registration document or logbook. You can keep using your car as you repay the loan. You won’t get the logbook back until you have cleared the debt. If you default on the loan payments, your car can be seized by the lender.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Cambridgeshire residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Are Cambridgeshire V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Soham Cotes residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

Can unemployed Soham Cotes residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. Cambridgeshire V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

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 Soham Cotes 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.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

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.

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.