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Fast Logbook Loans in Bloomsbury

Enquire Online Today! - 22 Oct 2021

logbook loans Bloomsbury

Logbook Loans Bloomsbury


Unlock the value in your car easily with Bloomsbury logbook loans

Bloomsbury logbook loan quotes

By lending against your vehicle you could unlock anything from £400 to £50,000 whilst still driving your car. Assuming your car is currently finance-free your loan can often be arranged quickly and your money provided within 24 hours!

Bloomsbury Logbook Loans are now one of the most popular ways to secure a fast, hassle-free loan minus all the checks and obstacles that other loans require. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

You can even use your loan for any purpose 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.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

Been refused before? Your credit history won’t necessarily end your loan application, making Logbook Loans accessible to more people.

Keep driving: Want to keep mobile whilst enjoying your new loan? You can keep on driving your car throughout the loan period with a Logbook Loan.

60sec application: Applying for a free Bloomsbury Logbook Loan quote is simple, and will only take you a minute of your time!

Any reason loans: Need a no-questions asked loan that you can spend however you like? A logbook loan gives you complete control over your money.

Personalise your loans: Discuss your individual lending requirements with a specialist to see just how a Logbook Loan can suit your needs.

Don’t think it’s difficult to apply for Bloomsbury Logbook Loans either, just take a moment (less than a minute!) to tell us about yourself and your vehicle using our online form, a short time after you apply you will be contacted direct to discuss your lending needs further.

With our free no-obligation Bloomsbury Logbook Loan quote service, why not find out how much you could borrow today?

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Bloomsbury lenders only let you borrow against cars under 8 years old, the Camden lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Bloomsbury

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in Bloomsbury and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check Bloomsbury 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 Camden

Self-Employed - Do I Qualify?

It has long been a problem for the Bloomsbury self-employed to qualify for any type of loan as most Camden lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Bloomsbury business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Bloomsbury business, you may be able to do so in one of two ways. First, you can enquire about a loan on a vehicle that is registered in your name; this is much the same as obtaining a personal logbook loan. Second, you can also use a company vehicle that is registered in the business’s name if the business name and your name match. You should always check with individual lenders for their policies.

Borrow From £400 to £50k - Examples

If you are eligible for a loan then you can release up to 80% of your car’s market value, which can be anything from £400 - £50,000 covering most lending requirements. We’ve created a list of lending examples so you can get an idea of loan amounts 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

Bloomsbury Loan Calculator

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

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 Bloomsbury logbook loans.

How exactly do Camden Logbook Loans work?

A loan using your V5 document is a loan that’s secured on your car, so the lender owns your car until you repay the loan. When taking out a loan of this type, you’ll be asked by the lender to hand over the car’s V5 registration document or logbook. You can keep using your car as you repay the loan. You won’t get the logbook back until you have cleared the debt. If you default on the loan payments, your car can be seized by the lender.

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 Camden 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 Bloomsbury 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 Camden 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 the unemployed secure a Logbook Loan?

Bloomsbury individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Camden might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

Does poor credit history affect Camden applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Camden 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 Bloomsbury logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Camden 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 is responsible for car maintenance?

Most logbook lenders will ask that you maintain your car so that the value remains the same (or close to the same) throughout the duration of the loan period. This maintenance includes regular servicing, MOT checks, and automobile insurance, among other things. You will need to notify your lender if anything reduces the value of your car significantly, including damage or mechanical problems. However, your lender will expect some additional mileage and the usual wear and tear throughout the loan term.

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 Camden 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.

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 should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.