Enter Your Reg Click Here!

Easy Logbook Loans in Monks Orchard

Enquire Online Today! - 08 Dec 2021

logbook loans Monks Orchard

Logbook Loans Monks Orchard


Got a car and need quick cash? Try Monks Orchard logbook loans

Monks Orchard logbook loan quotes

Keep driving your car whilst borrowing anything up to £50,000 against the current market value today. You could even receive the loan amount in less than a day assuming no finance is in place on your vehicle.

Other loans might slow you down with credit checks and hoops to jump through but not Monks Orchard Logbook Loans, which is why they’re so popular. Have you applied for and been declined a loan in the past? You may have found the very answer you’re looking for.

It doesn’t matter what you wish to spend the money on either... Logbook Loans let you have complete control over how you spend the money so youcan pay of other debts, take a holiday or anything else you prefer.

Free no-risk quotes: There’s never any need to commit when you apply for a free logbook loan quote, so why not find out what you could loan?

Hassle-free application: If your credit history has let you down on previous loan applications then don’t worry, you may still be eligible for a loan.

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Monks Orchard Logbook Loan quote.

Your money: It’s your loan, and your money to spend however you please. You could clear some debts, go on holiday or buy something nice!

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.

Don’t think it’s difficult to apply for Monks Orchard Logbook Loans either, the quote application form on this page won’t take more than a minute to complete with some basic details, a loan expert will then get in contact with you direct to speak further about your Logbook Loan application.

Free quotes for Monks Orchard Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Monks Orchard lenders will limit the age of an eligible car to 8 years, but the lenders on our Croydon network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Monks Orchard

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Monks Orchard and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Monks Orchard 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 Croydon

Self-Employed - Do I Qualify?

It has long been a problem for the Monks Orchard self-employed to qualify for any type of loan as most Croydon 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.

Monks Orchard business v5 loans

Logbook Loans and Businesses

A small Monks Orchard business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

Calculate Your Loan Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

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 Monks Orchard logbook loans.

How do they work?

Quite simply the way Monks Orchard Logbook Loans work is that you use your car as security in order to receive a loan against the value of it. In order to receive the loan you need to own the car yourself (or have very little finance on it) then hand over the V5 document in exchange for an agreed amount of up to 80% of the car’s value. You can carry on driving your car throughout the loan period, and once repaid your V5 document is returned to you. They are particularly popular in Croydon as they can often be available to residents with poor credit scores.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Croydon residency, and income – and they’ll need it to get you approved.

What makes Monks Orchard Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Croydon applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Monks Orchard v5 loans can be a great idea. Get in touch to find out more.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Croydon residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Monks Orchard loan application, simply enquire online using the form on this page.

What about Croydon residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Croydon loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Monks Orchard billing address, proof of identification, MOT certificate and proof of income.

I can’t prove my income, is that a problem?

Monks Orchard V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional Croydon lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Croydon lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial reimbursement of up to £30,000.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.