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Convenient Logbook Loans in Upton

Enquire Online Today! - 31 Oct 2020

logbook loans Upton

Logbook Loans Upton


Release cash from your car with Upton logbook loans

Upton logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. If you can has no finance attached to it you could access your loan in as little as 24 hours!

As one of the fastest growing ways to secure a loan, Upton Logbook Loans don’t require credit checks or hoops to jump through. This could be the perfect solution if you have ever had a loan application refused in the past.

You can spend any money you lend on anything you want... you might decide to pay off some debts or treat yourself to a holiday, with Logbook Loans you can get access to your funds very quickly.

Risk-free quotes: There’s no risk or commitment necessary when applying for a free quote. Why not find out how much you could lend?

Poor credit history? Your credit may not affect your application, so if you’ve been thwarted before by other loans then this may not be an issue!

Carry on driving: Lend money from the value of your car and carry on driving it at the same time with a Logbook Loan!

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Upton Logbook Loan quote.

Loans for any purpose: Whatever your need to take out a Logbook Loan you have the freedom of being able to spend the money as you please.

Flexible loan periods: Your V5 Loan can be tailored to fit in with your lifestyle and budget, chat with an advisor to see how you can make it work for you.

Applying for your Upton Logbook Loan is simple, in fact you only need to complete the short quote application form on this page which won’t take you more than a minute, we’ll then arrange for a Logbook Loan expert to get in touch direct to discuss your application further.

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

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Upton v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Upton

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 Upton 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 Upton 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

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Upton 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.

Upton business v5 loans

V5 Business Loans?

Whether you are the owner of your own small Upton business or you’re a sole proprietor, there are some instances in which you may be able to get a logbook loan on your company car. This is true if your car is registered in your name, or if your name is part of the company name. The best way to find out if you qualify is to enquire through a lender network, where you can be put in contact with a variety of lenders that may suit your needs.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples in 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

FAQs - Upton V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Upton logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

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.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Cambridgeshire residency, and income – and they’ll need it to get you approved.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Cambridgeshire logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Upton. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can I qualify for Cambridgeshire car logbook loans if I am unemployed?

If you live in Cambridgeshire, are unemployed and are looking for a way to secure a personal loan, then you might be eligible to borrow against your car. As long as you own a car that’s registered in your name then you could qualify. However, it’s important to note that all Upton applicants have different situations, so it’s advisable to get in touch with the logbook lender. Also, as part of responsible lending, the loan applicant has to be able to prove that they can afford to make the loan repayments to avoid extra charges, late repayments and possible repossession of their vehicle.

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.

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

Responsible lending entails only lending money to Upton 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. Upton 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.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

Will a Logbook Loan show on a HPI check?

Cambridgeshire lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you up to £30,000.

How long do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

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.