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First-Rate Logbook Loans in Beswick

Enquire Online Today! - 17 Jan 2019

logbook loans Beswick

Logbook Loans Beswick


Lend cash from your car with Beswick logbook loans

Beswick logbook loan quotes

If you’re looking to get a loan that’s convenient where you can still drive your car then this could be the solution for you! You can even receive your money in as little as 24 hours if your car is free from any finance.

Beswick Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. If you have been unsuccessful in previous loan applications then look no further as this could be the solution.

The money you borrow is yours to spend on anything your like... some people choose to clear debts, others book a holiday with their loan. With Logbook Loans you can get access to the funds quickly and easily.

No obligation necessary: You don’t have to commit to a loan, so why not apply online to see how much you could be borrowing with a Logbook Loan?

Refused loans? If you’re frustrated at other loans declining your applications then you might be in luck with a Logbook Loan as they are very accessible!

Continue to drive: Continue driving the vehicle you are borrowing against for the whole loan period. Benefit from both the money and the keys!

Apply online: Simply take a minute to complete our online quote application form to apply for your Beswick Logbook Loan quote.

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

Flexible loan periods: Your lending requirements might differ from others, so get in contact with a specialist to chat further about your borrowing needs.

Using our website to apply for Beswick Logbook Loans couldn’t be more simple too, all we need is some basic information about you and your car which you submit via our short online form, a loan provider will then get in touch direct to discuss your requirements further.

Why not discover just how much you could borrow with a free Beswick 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 Beswick lenders will limit the age of an eligible car to 8 years, but the lenders on our Greater Manchester 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 Beswick

Borrowing Against a Classic or Prestigious Vehicle

Beswick owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Beswick logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Greater Manchester

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Greater Manchester lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Beswick. You will still have to prove you can afford the repayments however.

Beswick business v5 loans

What About Companies?

Beswick 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 to £50k - Examples

If you are eligible for a loan then you can release up to 80% of your car’s market value, which can be anything from £400 - £50,000 covering most lending requirements. We’ve created a list of lending examples so you can get an idea of loan amounts 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

Greater Manchester Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding Beswick logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

How exactly do Greater Manchester 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.

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, Greater Manchester residency, and income – and they’ll need it to get you approved.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Greater Manchester logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Beswick. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out Greater Manchester 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 Beswick and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Greater Manchester lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Beswick applicants are still credit checked, but may find this type of loan more accepting than others.

I can’t prove my income, is that a problem?

Beswick V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional Greater Manchester lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

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.

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 periods of repayment are available?

In order to suit most repayment needs your loan can be repaid over 12,18 or even 36 months. As interest is charged monthly, there is no penalty for paying off your loan, so repaying your loan faster results in a reduction of the overall cost.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.