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Quality Logbook Loans in Thorney

Enquire Online Today! - 31 Oct 2020

logbook loans Thorney

Logbook Loans Thorney


Got a car and need quick cash? Try Thorney logbook loans

Thorney logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? Your money can even be delivered in less than a day providing the criteria is met and there is no finance on the car.

With Thorney Logbook Loans you won’t have to jump through hoops or undergo embarrassing credt checks which helps explain their popularity. Have your previous loan applications been denied for any reason? If yes, then this type of loan could be the perfect solution.

What’s more the money loaned can be spent on anything you fancy... how about clearing some other debts, or putting some money aside for a holiday? The choice is entirely yours to do what you like with the money.

Risk-free quotes: Obligation-free quotes mean that applying online is completely risk-free, so it’s worth finding out what you could borrow!

Hassle-free loans: Frustrated at being turned down for loans before? Your credit history might not even be an issue with a Logbook Loan application.

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Thorney Logbook Loan quote!

Any purpose: No matter what reason for you wanting to take out a Logbook Loan, the money you lend is yours to spend however you like.

Flexible loan periods: Your lending requirements might differ from others, so get in contact with a specialist to chat further about your borrowing needs.

It’s not difficult to apply for Thorney Logbook Loan quotes either, take just 60 seconds of your time to complete our online quote application form with some basic details, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

Apply online today to see just how much money you can release with Thorney 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 Thorney 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 Thorney

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Thorney and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Thorney logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional loan.

loans for self employed in Cambridgeshire

Self-Employed? You Could Still Borrow

Most Cambridgeshire lenders want proof of regular income which makes it very difficult for the self-employed in Thorney to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

Thorney business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your Thorney business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

£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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

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 Thorney applicants.

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 Thorney 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 will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Cambridgeshire address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

Why opt for Thorney 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 Thorney loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can unemployed Thorney 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 affect my Thorney 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 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 Thorney 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.

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.

Will a Logbook Loan show up on a HPI check?

An HPI Check is a car check which is provided by HPI ltd. which scrutinises the history of motorised vehicles that are registered in UK including vans, motorbikes and cars. The HPI check report alerts you to any kind of worrying information that’s held against the car by insurance or finance companies, the police, the DVLA, and such other industry bodies. A loan against your car will show as a Bill of Sale Agreement. If for any reason it doesn’t show on a HPI check then the HPI guarantee will offer reimbursement of up to £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.