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Easy Logbook Loans in Stretham

Enquire Online Today! - 25 Oct 2020

logbook loans Stretham

Logbook Loans Stretham


Lend cash from your car with Stretham logbook loans

Stretham logbook loan quotes

Did you know you could borrow money against your car whilst still driving it? You borrow anything from £400 to £50,000 on the same day! Your money can even be delivered in less than a day if your vehicle has no finance attached.

With Stretham Logbook Loans you won’t have to jump through hoops or undergo embarrassing credt checks which helps explain their popularity. If you’ve been refused a loan for whatever reason then this could well be your best way to obtain the funding you need.

Furthermore any money borrowed can be spent however you like, on whatever you like... the choice is yours, you could clear some other debts or go on a dream holiday. Logbook Loans give you the flexibility and freedom to decide yourself.

Free quotes: Apply online to get a free no-obligation quote. You don’t have to commit to any proposals, so why not apply today!

Poor credit history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Stay mobile: You can stay on the road and keep your car keys throughout the duration of a Logbook Loan whilst still borrowing money!

60secs online application: You can apply for a quote for Stretham Logbook Loans in just a minute with our online application form!

Loans for any usage: How you want to spend the money you receive is completely up to you. You have complete freedom to spend the loan as you wish.

Loan periods to suit you: All borrowing requirements differ from individual to individual, so chat to a specialist to discuss your needs and tailor a loan.

Don’t think it’s difficult to apply for Stretham Logbook Loans either, you only need to fill-in our online quote application form with some basic details about you and your car, a loan expert will then get in contact with you direct to speak further about your Logbook Loan application.

Get your free quote today to see how much you could lend with Stretham Logbook Loans!

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Stretham lenders might limit the borrowing to cars under 8 years of age, the lenders on our Cambridgeshire network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Stretham

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Stretham classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Stretham logbook loans

No Credit Check Logbook Loans?

Actually ’No Credit Check’ is in fact a misconception brought about by the fact that this type of loan can be more accepting of those with poor credit. When anyone applies for a loan they will be credit checked, however this shouldn’t put you off as you may still be eligible to borrow money as your car is used as security... making it a lower risk to the lender. Why not find out if you’re eligible for a loan?

loans for self employed in Cambridgeshire

Refused Elsewhere Due To Self-Employment?

Obtaining a loan when you are self-employed in Stretham 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.

Stretham business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Stretham 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.

Release £400 - £50,000 From Your Vehicle

Below you can see a table of typical lending examples based on 80% of your car’s current value. The lending range can be anything from £400 up to £50,000 which should cover most borrowing requirements. Get in touch to see how much you could borrow:

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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

FAQs About Stretham V5 Loans

If you’ve got any questions about Stretham logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Stretham residents can borrow depends on just how much their car is worth; some Cambridgeshire lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

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 might a Logbook Loan be a good idea?

If you live in Stretham, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Cambridgeshire residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Cambridgeshire loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in Stretham and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Cambridgeshire, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Stretham loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Stretham applicants who can afford to make the monthly repayments. Stretham v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

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 do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

We hope these FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.