Enter Your Reg Click Here!

First-Class Logbook Loans in Urmston

Enquire Online Today! - 14 Dec 2019

logbook loans Urmston

Logbook Loans Urmston


If you need quick cash then Urmston logbook loans are for you

Urmston logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. If your car is free of finance then from application to receiving your money can be as little as 24 hours!

Other loan types will have you jumping through hoops and undergoing credit checks which you won’t have to do with Urmston Logbook Loans. Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

Whatever amount you borrow can be spent on anything you like... some spend the money on clearing debts, others on holidays or simply for additional cashflow. With Logbook Loans you can get access to funds quickly and easily.

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 history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Continue driving: Conveniently you get to keep the keys to your car so you can both borrow money and carry on driving for the loan duration!

One minute application: Applying for your Urmston Logbook Loan quote is simple, quick and can be done via our online form.

Your money to spend: Your loan is yours to spend however you like, so whatever your reason for wanting a loan you have complete control.

Flexible loan durations: Your loans can be tailored to suit your own individual needs, speak to a specialist to see what can be arranged for you.

Luckily our site makes it easy to apply for Urmston Logbook Loans, in fact all you need to do is complete the short application form on this page with some basic information, we’ll then arrange for a Logbook Loan expert to get in touch direct to discuss your application further.

With free no-risk quotes available in minutes, why not discover just how much Urmston Logbook Loans could allow you to lend?

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 Urmston lenders might limit the borrowing to cars under 8 years of age, the lenders on our Greater Manchester 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 Urmston

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! Urmston 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 Urmston 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 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 Urmston 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.

Urmston business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your Urmston business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

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

Urmston Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Greater Manchester.

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 Urmston applicants.

How do Greater Manchester V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Urmston borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Urmston residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What documents should I supply to proceed?

Loan enquiries are not complicated, and most can be completed in just a few minutes. After providing some basic information about yourself, you should be prepared to provide copies of your photo ID, V5 documents, current MOT, most recent utility bill (must be in your name), proof of car insurance, and proof of income, which may be a copy of your bank statement or several payslips.

Are Greater Manchester 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, Urmston 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, Greater Manchester 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 Urmston loan application, simply enquire online using the form on this page.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Urmston V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Greater Manchester and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

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

Responsible lending entails only lending money to Urmston 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. Urmston 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 on a HPI check?

Greater Manchester lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you up to £30,000.

What are the repayment durations?

You can choose to repay your loan in either 12, 18 or 36 month instalments. What’s more there is no penalty for settling your loan early so you could save money on monthly interest payments by repaying your loan sooner.

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.