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Fast Logbook Loans in Colaton Raleigh

Enquire Online Today! - 10 Apr 2020

logbook loans Colaton Raleigh

Logbook Loans Colaton Raleigh


Colaton Raleigh logbook loans can unlock the value in your car

Colaton Raleigh logbook loan quotes

If you’re looking to borrow anything from £400 - £50,000 whilst still keeping mobile then this could be the loan for you. If there is no existing finance attached to your vehicle then your loan amount could be delivered in under 24 hours!

If you don’t want to be jumping through hoops and carrying out embarrassing credit checks then Colaton Raleigh Logbook Loans are a popular choice. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

You can use the money you borrow on anything you want... whether you want to clear off some debts, book a holiday or simply boost your cashflow a Logbook Loan can provide you with the required funds quickly.

No-risk quotations: Find out how much you could be lending with an obligation-free logbook loan quote. It only takes a minute to apply.

Poor credit rating? There isn’t the need to have a perfect credit history when taking out a V5 loan, which makes it accessible to more people.

Continue to drive: A Logbook Loan lets you borrow money whilst keeping the car keys, so you can continue to drive for the loan period.

60secs to apply: You can apply for your Colaton Raleigh Logbook Loan quote in less than a minute with just a few basic online details.

Loans for any purpose: Paying off debts? Holiday? Cashflow? No matter what your reason for wanting to loan, you have complete control over your money.

Loan periods to suit you: All borrowing requirements differ from individual to individual, so chat to a specialist to discuss your needs and tailor a loan.

Our website makes it super-simple to apply for free Colaton Raleigh Logbook Loan quotes too, all we need is some basic information about you and your car which you submit via our short online form, we’ll then arrange for a Logbook Loan expert to get in touch direct to discuss your application further.

With completely free quotes why not discover how much Colaton Raleigh Logbook Loans could allow you to loan?

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 Colaton Raleigh lenders will limit the age of an eligible car to 8 years, but the lenders on our Devon 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 Colaton Raleigh

Borrowing Against a Classic or Prestigious Vehicle

Colaton Raleigh 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 Colaton Raleigh logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Devon

Are the Self-Employed Eligible to Borrow?

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

Colaton Raleigh business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Colaton Raleigh business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

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

Devon 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

If you have any questions regarding any element of Colaton Raleigh 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 do Devon Logbook Loans work exactly?

The principal of borrowing against your car (or a V5 loan) in Devon is very straightforward... you use the V5 document of your car as security for a loan against it. Typically you can borrow up to 80% of the car’s value and have a range or repayment durations available. An added bonus of this type of loan is that Colaton Raleigh applicants can continue to drive their vehicles throughout the loan period, an once the loan is repaid in full the V5 document is returned. V5 loans are particularly popular with those who have less than favourable credit scores.

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 Devon 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.

Why are Logbook Loans a good idea?

They are often a good type of loan for Colaton Raleigh borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Devon V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

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

One of the key requirements to taking out Devon 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 Colaton Raleigh and unemployed you still need to be able to prove that you can afford the repayments to qualify for the 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 Colaton Raleigh borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Devon 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 Devon 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.

Do I qualify if I can’t prove my income?

To qualify for Colaton Raleigh V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Devon.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Do V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

Should you have any further queries you can hear direct from an advisor by simply filling-in the form above. An advisor will be in touch direct to chat further about our lending requirements and whether a V5 loan is suitable for your needs.