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First-Rate Logbook Loans in Exmouth

Enquire Online Today! - 10 Apr 2020

logbook loans Exmouth

Logbook Loans Exmouth


Your car is the answer to quick cash with Exmouth logbook loans

Exmouth logbook loan quotes

Stay mobile whilst lending the money you need for whatever you need. You can borrow up to £50,000 while keeping on the road. If your car is finance-free then there’s a good chance you could even receive your loan within 24 hours!

As one of the fastest growing ways to secure a loan, Exmouth Logbook Loans don’t require credit checks or hoops to jump through. These loans can provide you with the money you have been looking to borrow, particularly if you have been refused other types of loan elsewhere.

The money you borrow can be used towards anything you like too... a Logbook Loan gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

Free quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

Been refused a loan? Perhaps you’ve been declined loans in the past because of a ’less than perfect’ credit history? Your application might well be accepted with a Logbook Loan.

Keep driving your car: You can stay mobile whilst releasing value from your car throughout your loan’s duration.

Apply online: The form you can see above is all you ned to complete in order to apply for your free Exmouth Logbook Loan quote.

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.

Loan periods to suit you: Your loan can be tailored to suit your needs. Just chat to the specialist to see what options are available to you.

Applying for Exmouth Logbook Loans is a simple straightforward process, take just 60 seconds of your time to complete our online quote application form with some basic details, finally you will be contacted by a Logbook Loan specialist who can provide you with a free quote and further information.

Apply for your free no-obligation Exmouth Logbook Loan quote today to see how much you could lend against your vehicle.

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Exmouth logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Exmouth

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 Exmouth 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 Exmouth 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

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Exmouth 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 Devon 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.

Exmouth business v5 loans

What About Companies?

Exmouth 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.

Borrow From £400 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

Loan Value Calculator

Use the sliders to see how much you could lend against your logbook in Exmouth, up to a maximum 80%.

7000
80%

£5600

FAQs About Exmouth V5 Loans

If you’ve got any questions about Exmouth 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 Devon V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Exmouth 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 Exmouth residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What documents should I supply to proceed?

Loan enquiries are not complicated, and most can be completed in just a few minutes. After providing some basic information about yourself, you should be prepared to provide copies of your photo ID, V5 documents, current MOT, most recent utility bill (must be in your name), proof of car insurance, and proof of income, which may be a copy of your bank statement or several payslips.

Why are Logbook Loans a good idea?

They are often a good type of loan for Exmouth 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.

Can unemployed persons secure a Logbook Loan?

To be eligible for Exmouth loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Devon loan, without delays. It’s part of a responsible lending culture amongst lenders.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Exmouth 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 Exmouth 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 Logbook Loans show on a HPI check?

Yes. It is a requirement for all Devon 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.

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.