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Expert Logbook Loans in Salford

Enquire Online Today! - 17 Oct 2019

logbook loans Salford

Logbook Loans Salford


Got a car and need quick cash? Try Salford logbook loans

Salford logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. The money can even be yours in less than 24 hours providing your car doesn’t have any finance attached to it!

Other loan types will have you jumping through hoops and undergoing credit checks which you won’t have to do with Salford Logbook Loans. Have any of your previous loan applications been refused? If so this could be the loan for you.

You can even spend the money on whatever you wish... whether you want to clear off some debts, book a holiday or simply boost your cashflow a Logbook Loan can provide you with the required funds quickly.

No obligation necessary: Join hundreds of people who apply for a free quote every single day! No risk and no-obligation necessary.

Accessible loans: Logbook Loan applications don’t require masses of hoops to jump through, so if you’ve been declined before you may well be in luck!

Carry on driving: Borrow the agreed amount and also keep your car keys to stay mobile throughout the loan period!

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your Salford Logbook Loan quote.

Loans for any purpose: Paying off debts? Holiday? Cashflow? No matter what your reason for wanting to loan, you have complete control over your money.

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 Salford Logbook Loan application process simple too, just complete the short application form on this page with some basic details regarding your car and yourself, a Logbook Loan provider will then contact you direct to discuss your requirements and to provide your obligation-free quote.

With our free no-obligation Salford Logbook Loan quote service, why not find out how much you could borrow today?

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Salford lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Salford

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 Salford 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 Salford logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not find out today!

loans for self employed in Greater Manchester

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Salford to get a loan as most lenders want to see a more secure income. Greater Manchester Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Salford business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Salford businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

Borrow Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look 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 Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

FAQs About Salford V5 Loans

If you’ve got any questions about Salford logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How do they work?

Quite simply the way Salford 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.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why are Logbook Loans a good idea?

They are often a good type of loan for Salford borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Greater Manchester V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Unemployed but want a Logbook Loan... is this possible?

Salford residents that find themselves unemployed but still want to take out a loan gainst there vehicle have to meet certain criteria in order to be successful. For instance you have to prove that the monthly loan repayments are affordable in order to avoid arrears and the possible loss of your car. Responsible Greater Manchester lenders won’t grant loans to those who cannot afford the repayments. To find out more simply get in touch today!

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Salford borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Greater Manchester lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Greater Manchester lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Salford applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Salford v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Will a Logbook Loan show up on a HPI check?

An HPI Check is a car check which is provided by HPI ltd. which scrutinises the history of motorised vehicles that are registered in UK including vans, motorbikes and cars. The HPI check report alerts you to any kind of worrying information that’s held against the car by insurance or finance companies, the police, the DVLA, and such other industry bodies. A loan against your car will show as a Bill of Sale Agreement. If for any reason it doesn’t show on a HPI check then the HPI guarantee will offer reimbursement of up to £30,000.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

To find answers to any further queries you may have then simply get in touch today using the short form you can see above. You’ll be contacted by an advisor who can answer any questions you have to see if a V5 loan is for you.