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Easy Logbook Loans in Woodbury Salterton

Enquire Online Today! - 10 Apr 2020

logbook loans Woodbury Salterton

Logbook Loans Woodbury Salterton


Get easy, convenient cash with Woodbury Salterton logbook loans

Woodbury Salterton logbook loan quotes

If you need fast cash but also need to keep mobile then this could be the best loan for you. You can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

Woodbury Salterton Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. Refused a loan in the past? Choosing this type of loan could be the answer to all your money lending needs.

Your borrowed funds can be used for any purpose too... Logbook Loans give you the freedom to spend your money freely so you could pay off some other debts or go on holiday, the choice is yours!

No-risk quotations: There’s no risk involved in getting a free quote as you never have to commit. Find out how much you could borrow today!

Refused before? Been declined a loan before because of poor credit? Don’t worry this time as your application for a loan could still be accepted.

Keep on driving: Stay mobile with a Logbook Loan. Not only do you lend money, but you get to keep on driving your car!

60sec application: Applying for a free Woodbury Salterton Logbook Loan quote is simple, and will only take you a minute of your time!

Any use loans: Your new Logbook Loan amount can be spent on anything that you want, there are no restrictions on how you spend your new loan.

Flexible loan periods: Your V5 Loan can be tailored to fit in with your lifestyle and budget, chat with an advisor to see how you can make it work for you.

This website makes the Woodbury Salterton Logbook Loan application process simple too, in fact the application process takes just 60 seconds by using the short online form on this page, a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Discover just how much you could lend against the value of your vehicle with a quote for Woodbury Salterton Logbook Loans today!

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 Woodbury Salterton 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 Woodbury Salterton

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Woodbury Salterton and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Woodbury Salterton logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Devon

Are the Self-Employed Eligible to Borrow?

If you’re in Woodbury Salterton 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.

Woodbury Salterton business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Woodbury Salterton 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.

£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

Loan Value Calculator

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

7000
80%

£5600

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Woodbury Salterton applicants.

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Devon residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

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 opt for Woodbury Salterton Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Devon, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Woodbury Salterton loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

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 Woodbury Salterton and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Woodbury Salterton. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Devon.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Woodbury Salterton applicants who can afford to make the monthly repayments. Woodbury Salterton v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

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.