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First-Class Logbook Loans in Addiscombe

Enquire Online Today! - 22 Aug 2019

logbook loans Addiscombe

Logbook Loans Addiscombe


Looking for quick cash? Addiscombe logbook loans are for you

Addiscombe logbook loan quotes

Did you know that you can access anything from £400 to £50,000 from the value of your car whilst still driving it? They’re fast too... if your car is free from finance your loan could be arranged and delivered the same day!

Addiscombe Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. Been declined a loan elsewhere? You could be eligible to borrow the funds you’ve been looking for.

You can spend any money you lend on anything you want... perhaps you want to clear some of your debts, book a dream holiday or even simply to bost your cashflow a Logbook Loan can provide the money needed very quickly.

No obligation necessary: You don’t have to commit to a loan, so why not apply online to see how much you could be borrowing with a Logbook Loan?

Refused loans before? If previous loan applications have been thwarted at the credit-check phase then you’ll be pleased to know that may not be an issue!

Use your car: Carry on using your car as normal whilst still benefitting from the money you can borrow against it.

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Addiscombe 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.

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

Fortunately it’s simple to apply for Addiscombe Logbook Loans with our site, our application form takes just 60 seconds to complete and that’s all you need to do, you will then be contacted direct by a loan specialist to discuss your requirements further.

Get a free quote for Addiscombe Logbook Loans by applying online now! Discover how much you could borrow today!

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Addiscombe V5 lenders. Many other Croydon companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Addiscombe

Borrowing Against a Classic or Prestigious Vehicle

Addiscombe owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Addiscombe 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 Croydon

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Addiscombe to get a loan as most lenders want to see a more secure income. Croydon Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Addiscombe business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Addiscombe 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 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

Addiscombe Loan Calculator

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

7000
80%

£5600

Frequently Asked Questions

It’s only natural to have a number of questions regarding V5 loans, so we have compiled a series of answers to the more frequently asked questions. Please get in touch to discuss any element of Addiscombe logbook loans further.

How Logbook Loans work

If you own a car and live in Croydon, 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.

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 Croydon 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 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 Croydon logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Addiscombe. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Croydon loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in Addiscombe and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

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.

What happens if I can’t prove my current income?

Croydon V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Addiscombe applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

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 is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

If there are any other questions you would like answered then use the form above to get in touch direct to an advisor. They’ll help answer any queries you have and determine whether a V5 loan is the right solution for you.