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Fast Logbook Loans in North Acton

Enquire Online Today! - 24 Jan 2022

logbook loans North Acton

Logbook Loans North Acton


Got a car and need quick cash? Try North Acton logbook loans

North Acton logbook loan quotes

You could carry on driving your car and have anything from £400 to £50,000 in your account on the same day. You could receive the loan in less than a day providing your vehicle is finance-free.

Other loan types require you to jump through hoops and undergo credit checks, but North Acton Logbook Loans don’t which is why they’re so popular! 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... the choice is yours, you could clear some other debts or go on a dream holiday. Logbook Loans give you the flexibility and freedom to decide yourself.

No-obligation quotes: Why not join hundreds of others who apply for completely obligation-free logbook loan quotes to see how much they can borrow.

Poor credit? Your credit history and CCJs/arrears aren’t necessarily a problem either when you apply for a V5 loan.

Continue to drive: If keeping mobile is important to you then a Logbook Loan lets you borrow the money and keep hold of your car keys!

60secs to apply: That’s right! It only takes a minute to apply for your free North Acton Logbook Loan quote via our online form.

Any use loans: A Logbook Loan can be used for whatever purpose you like. The money you receive can be spend entirely as you wish, on whatever you want.

Personalise your loans: If you need a loan that can be tailored to your own individual circumstances then get in touch to discuss a Logbook Loan today!

Applying for North Acton Logbook Loan quotes is a simple process too, all you need to do is tell us about yourself and your vehicle with our online quote application form, a loan provider will then get in touch direct to discuss your needs and to provide a free no-obligation quote.

Apply online today to discover just how much you could borrow against your car with North Acton Logbook Loans.

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other North Acton lenders might limit the borrowing to cars under 8 years of age, the lenders on our Ealing network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in North Acton

V5 Loans For Classic and Prestigious Cars

If you are the lucky owner of a prestigious or classic car then this type of loan could still apply to you! North Acton residents (if eligible) could get a loan against all makes and models including Aston Martin, Bentley, Rolls-Royce, Porsche and Ferrari not to mention vintage models. The loan amounts are based upon the value of your vehicle, so most older models are considered.

no credit check North Acton 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 Ealing

Self Employment - Refused Elsewhere?

Are you self-employed in North Acton? Struggling to get a loan due to an irregular income? With a logbook document loan your vehicle is used as collateral against your loan repayments which provides more security for Ealing lenders. You may still be eligible for a loan even if you work for yourself. You will still need to prove that you can afford the repayments as part of a responsible lending approach, so get in touch to discuss your lending needs.

North Acton business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your North Acton 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

Loan Value Calculator

Use the sliders to see how much you could lend against your logbook in North Acton, 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 North Acton applicants.

How does a V5 Logbook Loan work precisely?

It is a type of secured loan which provides a convenient and simple way of obtaining money for North Acton residents, and all credit rating is considered. The amount you’re entitled to borrow is normally determined by your vehicle’s value, and the amount you are able to repay, instead of your employment status or credit history. This means that Ealing residents, even if they’re self employed, or suffer from poor credit rating may still qualify for the loan; provided they can afford to repay it. You basically borrow the cash on an understanding that in case you do not pay the money back in the stipulated time, the lender can re-possess your vehicle.

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 Ealing 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 North Acton Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Ealing residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Ealing 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. North Acton 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 a poor credit score mean no loan?

If you have been refused a loan elsewhere in Ealing, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all North Acton loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

What happens if I can’t prove my current income?

Ealing V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to North Acton applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

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.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Ealing lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.