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First-Rate Logbook Loans in Stonea

Enquire Online Today! - 02 Jul 2022

logbook loans Stonea

Logbook Loans Stonea

Need fast convenient cash? Stonea logbook loans are the answer

Stonea logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. You could receive the loan in less than a day providing your vehicle is finance-free.

One of the most hassle-free and quick ways to lend money, Stonea Logbook Loans have become one of the most popular ways to obtain funds. If any of your previous loan applications have been unsuccessful then this might be the best solution.

The money you borrow is yours to spend on anything your like... clear some debts, go on holiday, boost your cashflow, whatever you decide to do the choice is yours.

No obligation: Hundreds of people apply for a free quote every single day! Why not get your free no-obligation quote today?

Poor credit history? If you have ever been declined a loan due to your credit history then you don’t have to worry, you may still be approved!

Keep on driving: Need to lend some money and stay mobile? No problem with a Logbook Loan... borrow the money and keep your car keys!

One minute application: Applying for your Stonea Logbook Loan quote is simple, quick and can be done via our online form.

Loans for any purpose: Paying off debts? Holiday? Cashflow? No matter what your reason for wanting to loan, you have complete control over your money.

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

It’s easy to apply for your Stonea Logbook Loan too, in fact you only need to complete the short quote application form on this page which won’t take you more than a minute, you’ll then hear direct from a loan specialist to chat about your lending needs further.

Discover how much you could be lending with Stonea Logbook Loans, apply online today!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Stonea lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Stonea

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Stonea and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Stonea 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 a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Stonea 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.

Stonea business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Stonea business, you may be able to do so in one of two ways. First, you can enquire about a loan on a vehicle that is registered in your name; this is much the same as obtaining a personal logbook loan. Second, you can also use a company vehicle that is registered in the business’s name if the business name and your name match. You should always check with individual lenders for their policies.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Cambridgeshire Loan Calculator

Want to know how much you could borrow against your car in Stonea? Use this handy calculator to show up to 80%.

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 Stonea applicants.

How Logbook Loans work

If you own a car and live in Cambridgeshire, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

What documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of Cambridgeshire residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Why opt for Stonea Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Cambridgeshire, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Stonea loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

What about Stonea 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.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Cambridgeshire lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Stonea applicants are still credit checked, but may find this type of loan more accepting than others.

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

Responsible lending entails only lending money to Stonea 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. Stonea 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.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Cambridgeshire lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.