Enter Your Reg Click Here!

First-Rate Logbook Loans in Shaldon

Enquire Online Today! - 23 Sep 2019

logbook loans Shaldon

Logbook Loans Shaldon


If you need quick cash then Shaldon logbook loans are for you

Shaldon logbook loan quotes

Did you know you could borrow money against your car whilst still driving it? You borrow anything from £400 to £50,000 on the same day! Frequently the loan amounts can be paid out in under a day assuming that your car is free of any finance.

Other loan types require you to jump through hoops and undergo credit checks, but Shaldon Logbook Loans don’t which is why they’re so popular! Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

It doesn’t matter what you want to do with your money... perhaps you have some debts that need paying off or you want to go on holiday, with Logbook Loans your money is delivered quickly so you can do what you wish!

No commitment necessary: Why not get a free quote and see just how much money you could loan against your car’s value?

Hassle-free loans: Are you fed up of a less-than-perfect credit history ruining your loan applications? You’ll love the fact that V5 loans are very accessible.

Keep on driving: Drive your car as per normal throughout the loan period whilst still benefitting from the borrowed money.

60sec application: To apply online for your Shaldon Logbook Loan quote takes less than a minute using our easy application form.

Any use loans: If you’re looking for a loan that doesn’t restrict what you can spend the money on then a Logbook Loan is for you.

Flexible loan durations: If you need a loan but want to discuss longer durations then apply online and speak to a specialist to discuss your needs.

Don’t think it’s difficult to apply for Shaldon Logbook Loans either, the simple application form you can see on this page is all you need to fill-in with some basic details, you’ll then be contacted by a provider to discuss your loan requirements.

Discover how much you could be lending with Shaldon Logbook Loans, apply online today!

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Shaldon lenders only let you borrow against cars under 8 years old, the Devon lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Shaldon

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Shaldon then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Shaldon logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not find out today!

loans for self employed in Devon

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Shaldon as most Devon lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Shaldon business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Shaldon business, you may be able to do so in one of two ways. First, you can enquire about a loan on a vehicle that is registered in your name; this is much the same as obtaining a personal logbook loan. Second, you can also use a company vehicle that is registered in the business’s name if the business name and your name match. You should always check with individual lenders for their policies.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples in 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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

Shaldon V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Shaldon logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How do they work?

Quite simply the way Shaldon Logbook Loans work is that you use your car as security in order to receive a loan against the value of it. In order to receive the loan you need to own the car yourself (or have very little finance on it) then hand over the V5 document in exchange for an agreed amount of up to 80% of the car’s value. You can carry on driving your car throughout the loan period, and once repaid your V5 document is returned to you. They are particularly popular in Devon as they can often be available to residents with poor credit scores.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Devon residency, and income – and they’ll need it to get you approved.

Why are Logbook Loans a good idea?

They are often a good type of loan for Shaldon 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 I get a Logbook Loan if I am unemployed?

If you have tried to apply for Devon personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Shaldon Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Shaldon V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Devon and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Shaldon applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Shaldon v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

What is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

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.