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Expert Logbook Loans in Eaglescliffe

Enquire Online Today! - 26 Jun 2019

logbook loans Eaglescliffe

Logbook Loans Eaglescliffe


Looking for quick cash? Eaglescliffe logbook loans are for you

Eaglescliffe logbook loan quotes

Borrow money against the current value of your car and lend from £400 to £50,000 whilst still driving it! Your money can even be delivered in less than a day providing the criteria is met and there is no finance on the car.

Eaglescliffe Logbook Loans have become one of the most popular ways to secure a loan without the usual credit-checks and hassles. Been declined a loan elsewhere? You could be eligible to borrow the funds you’ve been looking for.

Your borrowed funds can be used for any purpose too... Logbook Loans give you the freedom to spend your money freely so you could pay off some other debts or go on holiday, the choice is yours!

No obligation: There’s never any pressure to commit to the free quote provided, so find out the amount you could loan risk-free today!

Been refused a loan? Perhaps you’ve been declined loans in the past because of a ’less than perfect’ credit history? Your application might well be accepted with a Logbook Loan.

Continue driving: Conveniently you get to keep the keys to your car so you can both borrow money and carry on driving for the loan duration!

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

Your money to spend: Your loan is yours to spend however you like, so whatever your reason for wanting a loan you have complete control.

Flexible loans: An ’out-the-box’ loan solution might not meet your lending needs, so get in touch to discuss a Logbook Loan with an advisor today!

Thankfully our website makes it easy to apply for Eaglescliffe Logbook Loans, our application form takes just 60 seconds to complete and that’s all you need to do, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

With free Eaglescliffe Logbook Loan quotes from a reputable lender, why not discover just how much you could borrow 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 Eaglescliffe 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 Eaglescliffe

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Eaglescliffe 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 Eaglescliffe logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in County Durham

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most County Durham lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Eaglescliffe. You will still have to prove you can afford the repayments however.

Eaglescliffe business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Eaglescliffe 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

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

If you have any questions regarding any element of Eaglescliffe V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

How do County Durham V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Eaglescliffe 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 Eaglescliffe residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your County Durham residency, along with payslips or bank statements that show your income.

Are County Durham Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. County Durham applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Eaglescliffe V5 Loans a great idea for many.

Can unemployed persons secure a Logbook Loan?

To be eligible for Eaglescliffe 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 County Durham loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Eaglescliffe V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in County Durham and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

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

Responsible lending entails only lending money to Eaglescliffe 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. Eaglescliffe 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.

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.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

What are the repayment durations?

You can choose to repay your loan in either 12, 18 or 36 month instalments. What’s more there is no penalty for settling your loan early so you could save money on monthly interest payments by repaying your loan sooner.

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.