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Professional Logbook Loans in New Addington

Enquire Online Today! - 16 May 2022

logbook loans New Addington

Logbook Loans New Addington


Your car is the answer to quick cash with New Addington logbook loans

New Addington logbook loan quotes

Borrow money against the current value of your car and lend from £400 to £50,000 whilst still driving it! The money can be yours in as little as 24 hours if your car is free from finance!

New Addington 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. This could be the perfect solution if you have ever had a loan application refused in the past.

Your loan can even be used for any 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.

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?

Poor credit? Your credit history and CCJs/arrears aren’t necessarily a problem either when you apply for a V5 loan.

Keep driving your car: Keep the keys and carry on driving your car whilst enjoying borrowing some of the value.

Easy online application: Just provide us with some basic information using our online form to apply for your New Addington Logbook Loan quote.

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Flexible loan durations: Your loan can be tailored to your own specific circumstances, so have a chat with a Logbook Loan advisor today.

Applying through our website for New Addington Logbook Loans is simple too, take just 60secs of your time to tell us about you and your car with our convenient online quote application form, a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

Discover how much you could be lending with New Addington Logbook Loans, apply online today!

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other New Addington lenders might limit the borrowing to cars under 8 years of age, the lenders on our Croydon network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in New Addington

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in New Addington then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check New Addington 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

Are the Self-Employed Eligible to Borrow?

If you’re in New Addington and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Croydon lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

New Addington business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your New Addington 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.

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

Croydon Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

7000
80%

£5600

FAQs About New Addington V5 Loans

If you’ve got any questions about New Addington logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How do Croydon Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among New Addington residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

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 Croydon residency, along with payslips or bank statements that show your income.

Are New Addington 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 Croydon 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.

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out New Addington V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Croydon and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many New Addington borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Croydon 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 Croydon 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.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Croydon can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for New Addington V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Croydon lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a 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.