Enter Your Reg Click Here!

First-Class Logbook Loans in West Wickham

Enquire Online Today! - 26 Oct 2020

logbook loans West Wickham

Logbook Loans West Wickham


Lend cash from your car with West Wickham logbook loans

West Wickham logbook loan quotes

If you’re looking to get a loan that’s convenient where you can still drive your car then this could be the solution for you! What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

West Wickham Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. Have your previous loan applications been denied for any reason? If yes, then this type of loan could be the perfect solution.

The money borrowed can be spent on anything you like too... Logbook Loans give you the flexibility to pay of other loan amounts, go on holiday or just release some cashflow if you prefer.

No-obligation quotes: You don’t have to commit to a loan, why not just get a free quote to see how much you could borrow against your car.

Hassle-free loans: Are you fed up of a less-than-perfect credit history ruining your loan applications? You’ll love the fact that V5 loans are very accessible.

Carry on driving: Borrow the agreed amount and also keep your car keys to stay mobile throughout the loan period!

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your West Wickham Logbook Loan quote.

Loans for any usage: You can use the money borrowed with a Logbook Loan for any purpose, you aren’t restricted in how you can spend the money.

Loans to suit you: Your own individual loan requirements will likely differ from that of others, so chat to a specialist to arrange a loan to suit you.

Thankfully our website makes it easy to apply for West Wickham Logbook Loans, all we need is some basic information about you and your car which you submit via our short online form, a Logbook Loan provider will then contact you direct to discuss your requirements and to provide your obligation-free quote.

You could be receiving a free West Wickham Logbook Loan quote in no time at all, so why not apply online today!

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most West Wickham logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in West Wickham

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 West Wickham 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 West Wickham logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Cambridgeshire

Are the Self-Employed Eligible to Borrow?

If you’re in West Wickham and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Cambridgeshire lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

West Wickham business v5 loans

Can a Business Get a Loan?

Logbook loans are available for West Wickham 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.

Unlock £400 - £50,000 From Your Car

Most lending requirements are covered by the amount you can borrow with a V5 loan. You can unlock up to 80% of your current car’s value (which can be anything from £400 up to £50,000). Here’s a table showing some typical borrowing amounts at 80%

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

West Wickham Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Cambridgeshire.

7000
80%

£5600

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning West Wickham logbook loans.

How do West Wickham Logbook Loans work?

The way Cambridgeshire loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Cambridgeshire and are increasing in popularity with those with bad credit.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Cambridgeshire residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

Are West Wickham Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Cambridgeshire residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can unemployed West Wickham 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 poor credit history affect Cambridgeshire applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Cambridgeshire residents are finding them very popular. As your car is used as security it makes the loan lower risk to the lender so they are more likely to agree to the loan. You will still have your credit checked, but the outcome is normally more positive than if you had tried for a loan elsewhere.

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

In order to qualify for West Wickham 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.

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.

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 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 should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.