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First-Class Logbook Loans in Roydon Hamlet

Enquire Online Today! - 15 Dec 2018

logbook loans Roydon Hamlet

Logbook Loans Roydon Hamlet


Lend cash from your car with Roydon Hamlet logbook loans

Roydon Hamlet logbook loan quotes

If you need to lend money and still carry on driving your car then you could borrow up to £50,000 on the same day. If you have no existing finance on your car then you could be receiving your money within 24 hours of applying!

One of the fastest growing and most popular types of loan, Roydon Hamlet Logbook Loans bypass the usual credit checks and obstacles that other loans require. If any previous loan requests have been denied then you might find this is the solution that can deliver the funds you need.

You can spend any money you lend on anything you want... how about clearing some other debts, or putting some money aside for a holiday? The choice is entirely yours to do what you like with the money.

Free no-risk quotes: Why not discover just how much you could borrow against the value of your car with a completely obligation-free quote!

Poor credit? If you’ve been refused a loan elsewhere due to bad credit ratings then try a Logbook Loan which can be far more accepting.

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

Apply online: Just complete the simple application form on this page to apply for your free Roydon Hamlet Logbook Loan quote today!

Loans for any purpose: Your new loan amount is yours to spend however you like, whether it’s to pay off some other bills or to go on holiday!

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

Applying for your Roydon Hamlet Logbook Loan is simple, all you have to do is fill in our online quote application form with a few basic details, shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

Find out just how much you could borrow against your car with a free Roydon Hamlet Logbook Loan quote today!

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 Roydon Hamlet lenders will limit the age of an eligible car to 8 years, but the lenders on our Essex 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 Roydon Hamlet

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Roydon Hamlet classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Roydon Hamlet logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in Essex

Are the Self-Employed Eligible to Borrow?

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

Roydon Hamlet business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Roydon Hamlet companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

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 Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

Your Questions Answered

Though applying for your Roydon Hamlet logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How exactly do Essex Logbook Loans work?

A loan using your V5 document is a loan that’s secured on your car, so the lender owns your car until you repay the loan. When taking out a loan of this type, you’ll be asked by the lender to hand over the car’s V5 registration document or logbook. You can keep using your car as you repay the loan. You won’t get the logbook back until you have cleared the debt. If you default on the loan payments, your car can be seized by the lender.

What documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of Essex residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Are Essex V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Roydon Hamlet residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Essex residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Roydon Hamlet loan application, simply enquire online using the form on this page.

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 Roydon Hamlet. 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 Essex.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Essex can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Roydon Hamlet V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

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 Essex 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.

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.