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Quality Logbook Loans in Cotehill

Enquire Online Today! - 17 Feb 2019

logbook loans Cotehill

Logbook Loans Cotehill


Unlock the value in your car easily with Cotehill logbook loans

Cotehill logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. Providing your car is free of finance you can get your money in as little as 24 hours from applying!

Other loan types require you to jump through hoops and undergo credit checks, but Cotehill Logbook Loans don’t which is why they’re so popular! If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

You can spend the borrowed money on anything you like too... from clearing some debts to giving your cashflow a boost a Logbook Loan can provide the funds you need almost immediately.

No commitment necessary: The quote you receive for your loan is completely obligation-free, so why not just find out the amount available to you?

Refused loans before? It can be embarrassing to be refused a loan due to poor credit history, so Logbook Loans might be the best option for you.

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

Apply online in 60secs: Applying for your Cotehill Logbook Loan quote takes just a minute and couldn’t be simpler.

Your money to use: Spend your new loan on anything you fancy, from paying off other debts to buying a holiday you have complete freedom of choice.

Personalise your loans: If you need a loan that can be tailored to your own individual circumstances then get in touch to discuss a Logbook Loan today!

Applying for Cotehill Logbook Loans is a simple straightforward process, just tell us about yourself and your vehicle using our quick online application form, a specialist will then be in touch direct to chat to you further regarding your lending requirements.

With free no-obligation quotes, why not see how much you could lend with Cotehill Logbook Loans?

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 Cotehill lenders will limit the age of an eligible car to 8 years, but the lenders on our Cumbria 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 Cotehill

Borrowing Against a Classic or Prestigious Vehicle

Cotehill 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 Cotehill 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 Cumbria

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Cotehill lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Cumbria as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Cotehill business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your Cotehill business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at 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

Cotehill Loan Calculator

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

7000
80%

£5600

FAQs

If you have any questions regarding any element of Cotehill 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 does a V5 Logbook Loan work precisely?

It is a type of secured loan which provides a convenient and simple way of obtaining money for Cotehill residents, and all credit rating is considered. The amount you’re entitled to borrow is normally determined by your vehicle’s value, and the amount you are able to repay, instead of your employment status or credit history. This means that Cumbria residents, even if they’re self employed, or suffer from poor credit rating may still qualify for the loan; provided they can afford to repay it. You basically borrow the cash on an understanding that in case you do not pay the money back in the stipulated time, the lender can re-possess your vehicle.

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 Cumbria 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.

Why might a Logbook Loan be a good idea?

If you live in Cotehill, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Cumbria residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

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

One of the key requirements to taking out Cumbria 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 Cotehill and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Cotehill. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Cumbria.

I have no income proof, is that a problem?

In order to qualify for your Cotehill car logbook loan, you need to prove you will be able to make the loan repayments as stipulated. Being self employed or unemployed might not stop you from getting approved, as long as the loan lender can see that you’ve the ability to cover your logbook loan payments. However, you should fill in the above form to hear from an advisor about the available loan options for you.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Cumbria lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

How long do I have to repay?

Your loan can be arranged with three different repayment durations... 12, 18 or 36 months. Your interest is charged monthly, and there are no penalties for settling the loan early which means you can save money on the total amount payable.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.