Enter Your Reg Click Here!

Fast Logbook Loans in Ridgeway

Enquire Online Today! - 12 Nov 2019

logbook loans Ridgeway

Logbook Loans Ridgeway


Release cash from your car with Ridgeway logbook loans

Ridgeway logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. If your car is free of all finance arrangements then it’s possible to get your loan agreed and delivered in under 24 hours!

If you don’t want to jump through hoops and have your credit score checked then Ridgeway Logbook Loans are the obvious choice, and have become very popular. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

What’s more the money you release can be used for anything you like... why not pay off a few debts, treat yourself to a holiday or even give your cashflow a boost? Logbook Loans can provide you with the funds you need quickly and easily.

No risk quotes: All the quotes provided are completely risk-free as there is never any pressure to commit to a loan.

Been refused before? If you’ve been thwarted before at the credit check stage when applying for loans then relax... V5 loans are amongst the most accessible loan types.

Keep driving: Not only do you get to borrow the agreed amount, but you can carry on driving the vehicle for the entire loan period!

Simple online application: It’s easy to apply online for your Ridgeway Logbook Loan quote, just take a minute to complete our quick form.

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.

Flexible loans: Have a chat to a specialist to see just how suitable a Logbook Loan can be to your own individual borrowing requirements.

Luckily applying for Ridgeway Logbook Loans is a simple process, you only need to fill-in our online quote application form with some basic details about you and your car, you then hear from a Logbook Loan provider who can assess your requirements and provide you with a free quote.

You could be receiving a free Ridgeway Logbook Loan quote in no time at all, so why not apply online 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 Ridgeway

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Ridgeway and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Ridgeway 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

Self-Employed - Do I Qualify?

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

Ridgeway business v5 loans

What About Companies?

Ridgeway business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

£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

Ridgeway Loan Calculator

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

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding Ridgeway logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

How do Derbyshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Ridgeway borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Ridgeway residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Derbyshire residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Are Derbyshire Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. Derbyshire applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Ridgeway V5 Loans a great idea for many.

What about Ridgeway V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach Derbyshire logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Derbyshire lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Ridgeway applicants are still credit checked, but may find this type of loan more accepting than others.

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Ridgeway v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

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.

Will a Logbook Loan show on a HPI check?

Derbyshire lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you 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.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.