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Professional Logbook Loans in Old Trafford

Enquire Online Today! - 26 Jun 2019

logbook loans Old Trafford

Logbook Loans Old Trafford


Release cash from your car with Old Trafford logbook loans

Old Trafford logbook loan quotes

If you still need to drive your car, but need access to same day money then you could borrow up to £50,000.. Frequently the agreed loans can be completed in under a day if the car has no finance attached!

Old Trafford Logbook Loans are a great way to secure yourself a loan whilst avoiding the usual hassles and checks that other loans need. They could be the perfect lending solution if you have had a loan application refused in the past.

What’s more the money loaned can be spent on anything you fancy... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the chouce is yours and the money can be arranged quickly.

No-risk quotations: Find out how much you could be lending with an obligation-free logbook loan quote. It only takes a minute to apply.

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.

Continue driving: You can continue to drive your car as normal for the entire loan duration whilst lending money against it with a Logbook Loan.

60sec application: Apply online for your free Old Trafford Logbook Loan quote in just a minute with our online application form.

Your money: The loan is yours to spend however you wish, so if you have other debts to clear, want a holiday or anything else you can with a V5 loan.

Flexible loan periods: Whatever your borrowing requirements are there’s a good chance that a Logbook Loan will be suitable. Get in touch today to find out!

Our site makes it super-easy to apply for Old Trafford Logbook Loans too, take just 60 seconds of your time to complete our online quote application form with some basic details, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

With completely free quotes why not discover how much Old Trafford Logbook Loans could allow you to loan?

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Old Trafford lenders only let you borrow against cars under 8 years old, the Greater Manchester 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 Old Trafford

Borrowing Against a Classic or Prestigious Vehicle

Old Trafford 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 Old Trafford logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Greater Manchester

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Old Trafford lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Greater Manchester as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Old Trafford business v5 loans

What About Companies?

Old Trafford 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.

Unlock £400 - £50,000 From Your Car

Most lending requirements are covered by the amount you can borrow with a V5 loan. You can unlock up to 80% of your current car’s value (which can be anything from £400 up to £50,000). Here’s a table showing some typical borrowing amounts at 80%

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

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

Old Trafford V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Old Trafford 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 Old Trafford 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 Greater Manchester as they can often be available to residents with poor credit scores.

What should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Greater Manchester residency, and some form of income validation that proves your ability to repay your obligation.

Are Old Trafford 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 Greater Manchester 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.

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out Old Trafford V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Greater Manchester and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

What about Greater Manchester residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Greater Manchester loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Old Trafford billing address, proof of identification, MOT certificate and proof of income.

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

Old Trafford 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.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Greater Manchester lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £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 FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.