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Effortless Logbook Loans in Birch Vale

Enquire Online Today! - 15 Dec 2018

logbook loans Birch Vale

Logbook Loans Birch Vale


Looking for quick cash? Birch Vale logbook loans are for you

Birch Vale logbook loan quotes

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

Birch Vale Logbook Loans are one of the fastest growing loan types for those not wanting to jump through hoops and undergo credit checks. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

Furthermore any money borrowed can be spent however you like, on whatever you like... how about clearing some other debts, or putting some money aside for a holiday? The choice is entirely yours to do what you like with the money.

No commitment necessary: There isn’t any commitment necessary on your behalf when you get your free quote, so there’s no risk in simply finding out.

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

Carry on driving: Borrow the agreed amount and also keep your car keys to stay mobile throughout the loan period!

One minute application: Applying for your no-obligation Birch Vale Logbook Loan quote can be done online and only takes a minute!

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: Not all loans ’out the box’ suit everyone, so have a chat with an advisor to see how a Logbook Loan can work for your own situation.

Thankfully our website makes it easy to apply for Birch Vale Logbook Loans, all you have to do is fill in our online quote application form with a few basic details, you’ll then hear from a loan specialist with whom you can discuss your loan requirements.

With free Birch Vale Logbook Loan quotes from a reputable lender, why not discover just how much you could borrow today!

logbook loans for older cars

Get a Logbook Loan For Your Older Car

It’s true... your car may still be eligible for a loan even if it is older than the 8 year limit some other Derbyshire lenders impose. Your borrowing amount is based upon the value of your vehicle, so as long as it has some value it could well be eligible for a loan. Finding out if your car qualifies is easy too... just complete the short online form to see how much you could borrow with a V5 loan.

loans against classic, vintage and prestige cars in Birch Vale

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Birch Vale classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Birch Vale 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 Derbyshire

Are the Self-Employed Eligible to Borrow?

If you’re in Birch Vale and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Derbyshire 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.

Birch Vale business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your Birch Vale business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Your Questions Answered

Though applying for your Birch Vale logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How do Birch Vale Logbook Loans work?

The way Derbyshire loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Derbyshire and are increasing in popularity with those with bad credit.

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

Are Birch Vale 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 Derbyshire 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.

Can the unemployed secure a Logbook Loan?

Birch Vale individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Derbyshire might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

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.

Is it a problem if I can’t prove my income level?

In order to qualify for Birch Vale logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Derbyshire V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

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 Derbyshire 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.

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.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.