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Professional Logbook Loans in Steeple Morden

Enquire Online Today! - 28 Nov 2020

logbook loans Steeple Morden

Logbook Loans Steeple Morden


Need fast convenient cash? Steeple Morden logbook loans are the answer

Steeple Morden logbook loan quotes

If you’re looking to borrow anything from £400 - £50,000 whilst still keeping mobile then this could be the loan for you. You can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

Steeple Morden Logbook Loans have fast become amongst the most popular ways to secure a loan without the usual hassles and checks other loans require. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

Your loan can even be used for any reason you like... from clearing some debts to giving your cashflow a boost a Logbook Loan can provide the funds you need almost immediately.

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?

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

Continue to drive: Continue driving the vehicle you are borrowing against for the whole loan period. Benefit from both the money and the keys!

Apply online in 60secs: It only takes a minute of your time to complete the simple form on this page with a few details.

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: Your loan doesn’t come straight ’out the box’ and can be tailored to suit your own individual requirements. Speak to an expert today!

Fortunately it’s simple to apply for Steeple Morden Logbook Loans with our site, just provide us with some basic details regarding you and your car by completing the short application form on this page, a Logbook Loan provider will then contact you direct to discuss your requirements and to provide your obligation-free quote.

With free no-risk quotes available in minutes, why not discover just how much Steeple Morden Logbook Loans could allow you to lend?

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Steeple Morden lenders only let you borrow against cars under 8 years old, the Cambridgeshire lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Steeple Morden

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 Steeple Morden 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 Steeple Morden 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

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Steeple Morden as most Cambridgeshire lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Steeple Morden business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Steeple Morden company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at the table 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 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

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Steeple Morden applicants.

How do Cambridgeshire V5 Logbook Loans work?

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

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why are Logbook Loans in Steeple Morden a good idea?

This kind of loan is ideal for Cambridgeshire residents who have bad credit score and have no other form of finance available to them. Regardless of how bad or poor your credit score history, there could be less chance of getting rejected. You simply need to meet the requirements, especially pertaining ownership of the car, and you could be approved for the loan. Your credit history might not be a negative factor when issuing the approval for your loan application. Generally, approval for lending against your Steeple Morden vehicle mainly depends on the make or model of the car that you’re using as security. You can even get money on the same day!.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Cambridgeshire residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Steeple Morden loan application, simply enquire online using the form on this page.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Steeple Morden V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Cambridgeshire and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

Is it a problem if I can’t prove my income level?

In order to qualify for Steeple Morden logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Cambridgeshire V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Cambridgeshire lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

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 should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.