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First-Rate Logbook Loans in Abbey Wood

Enquire Online Today! - 25 Aug 2019

logbook loans Abbey Wood

Logbook Loans Abbey Wood


Need fast convenient cash? Abbey Wood logbook loans are the answer

Abbey Wood 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! If your car is free of all finance arrangements then it’s possible to get your loan agreed and delivered in under 24 hours!

Abbey Wood Logbook Loans are perfect for those not wanting to undergo credit checks and jump through the hoops associated with other loan types. Have any of your previous loan applications been refused? If so this could be the loan for you.

You can use the money to spend on whatever you like... with a Logbook Loan you get complete freedom to do what you like with the money, so why not clear some debts or even go on a holiday?

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?

Been refused before? If you’ve been thwarted before at the credit check stage when applying for loans then relax... V5 loans are amongst the most accessible loan types.

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

60secs to apply: That’s right! It only takes a minute to apply for your free Abbey Wood Logbook Loan quote via our online form.

Any use loans: Your new Logbook Loan amount can be spent on anything that you want, there are no restrictions on how you spend your new loan.

Flexible loans: An ’out-the-box’ loan solution might not meet your lending needs, so get in touch to discuss a Logbook Loan with an advisor today!

Thankfully applying for Abbey Wood Logbook Loans is a simple process, the application form you can see on this page is all you need to complete with a few details (no more than 60secs), you can then discuss your lending requirements further as a loan specialist will be in touch direct.

Your free no-obligation Abbey Wood Logbook Loan quote is just around the corner, so why not apply online today?

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Abbey Wood V5 lenders. Many other Greenwich companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Abbey Wood

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Abbey Wood and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Abbey Wood logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional loan.

loans for self employed in Greenwich

Are the Self-Employed Eligible to Borrow?

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

Abbey Wood business v5 loans

What About Companies?

Abbey Wood 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

Greenwich 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

Your Questions Answered

Though applying for your Abbey Wood 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 Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Abbey Wood residents can borrow depends on just how much their car is worth; some Greenwich lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Greenwich residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

Why might a Logbook Loan be a good idea?

If you live in Abbey Wood, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Greenwich residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

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

Yes, Greenwich 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 Abbey Wood loan application, simply enquire online using the form on this page.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Abbey Wood borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Greenwich 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 Greenwich 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.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Greenwich 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 Abbey Wood 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.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

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.

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.