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Fast Logbook Loans in Westwick

Enquire Online Today! - 25 Oct 2020

logbook loans Westwick

Logbook Loans Westwick


Your car is the answer to quick cash with Westwick logbook loans

Westwick logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

As one of the fastest growing ways to secure a loan, Westwick Logbook Loans don’t require credit checks or hoops to jump through. If any previous loan requests have been denied then you might find this is the solution that can deliver the funds you need.

Any money lent can be used for whatever reason you like... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the chouce is yours and the money can be arranged quickly.

Obligation-free quotes: You can apply for a free quote safe in the knowledge that there is never any pressure to commit.

No-hassle application: You don’t even have to jump through hoops in order to qualify for a loan. CCJs/Arrears can also be accepted!

Stay mobile: Drive your car for the entire loan period whilst receiving the money loaned against it with a Logbook Loan.

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

Your money: The amount you borrow with a Logbook Loan is yours to spend however you may like, the choice is entirely yours.

Loans to suit you: You can arrange a loan that not only suits your lending needs, but suits your budget too. For instance longer repayment durations.

It’s easy to apply for your Westwick Logbook Loan too, just use the online form on this page to tell us a little about yourself and your vehicle, you then hear from a Logbook Loan provider who can assess your requirements and provide you with a free quote.

Why not discover just how much you could borrow with a free Westwick Logbook Loan quote today?

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Westwick 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 Westwick

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 Westwick 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 Westwick logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

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 Westwick 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!

Westwick business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Westwick company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

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

Cambridgeshire Loan Calculator

Want to know how much you could borrow against your car in Westwick? 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 Westwick applicants.

How do Cambridgeshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Westwick borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Westwick residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

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 are Logbook Loans a good idea?

They are often a good type of loan for Westwick borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Cambridgeshire V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can unemployed persons secure a Logbook Loan?

To be eligible for Westwick loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Cambridgeshire loan, without delays. It’s part of a responsible lending culture amongst lenders.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Westwick borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Cambridgeshire lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Cambridgeshire lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

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 Westwick applicants who can afford to make the monthly repayments. Westwick 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.

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.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Cambridgeshire lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

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.