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Quick Logbook Loans in Eltham

Enquire Online Today! - 28 Feb 2021

logbook loans Eltham

Logbook Loans Eltham


Lend cash from your car with Eltham logbook loans

Eltham logbook loan quotes

If you need anything from £400 up to £50,000 then this could be the answer... and you even get to carry on driving your car. If your car is free of all finance arrangements then it’s possible to get your loan agreed and delivered in under 24 hours!

You don’t have to jump through hoops or undergo a lot of checks with Eltham Logbook Loans either, which is why they’re so popular! Choosing to lend against your logbook could be the ideal solution particularly if you have been refused a loan elswhere.

Your borrowed funds can be used for any purpose too... 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: 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?

Accessible loans: If you have had a loan refused before you’ll be pleased to know you could well qualify with a Logbook Loan.

Keep mobile: There’s no need to stop driving for the loan period. Not only can you loan money, but you can continue driving your car throughout the loan!

Apply online: The form you can see above is all you ned to complete in order to apply for your free Eltham Logbook Loan quote.

Loans for any usage: You can use the money borrowed with a Logbook Loan for any purpose, you aren’t restricted in how you can spend the money.

Flexible loan durations: If you need a loan but want to discuss longer durations then apply online and speak to a specialist to discuss your needs.

It’s really easy to apply for Eltham Logbook Loans too, all we need is some basic information about you and your car which you submit via our short online form, an expert loan provider will then be in touch direct to provide more information and a free Logbook Loan quote.

Discover just how much you could lend against the value of your vehicle with a quote for Eltham Logbook Loans today!

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Eltham logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Eltham

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Eltham and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Eltham 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 Greenwich

Refused Elsewhere Due To Self-Employment?

Obtaining a loan when you are self-employed in Eltham can be difficult as it is often hard to prove income stability. A loan against a logbook could provide the funds you need as your car is used as security against the loan making it less-risky for Greenwich lenders. Why not enquire online to discuss your lending needs? Please be aware that you need to demonstrate your ability to make repayments as part of responsible lending requirements.

Eltham business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Eltham 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.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples 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

Greenwich Loan Calculator

Want to know how much you could borrow against your car in Eltham? Use this handy calculator to show up to 80%.

7000
80%

£5600

V5 Car Loan FAQs

There are a number of questions we receive regarding Eltham logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

How do Greenwich Logbook Loans work exactly?

The principal of borrowing against your car (or a V5 loan) in Greenwich is very straightforward... you use the V5 document of your car as security for a loan against it. Typically you can borrow up to 80% of the car’s value and have a range or repayment durations available. An added bonus of this type of loan is that Eltham applicants can continue to drive their vehicles throughout the loan period, an once the loan is repaid in full the V5 document is returned. V5 loans are particularly popular with those who have less than favourable credit scores.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Greenwich address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

What makes Eltham Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Greenwich applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Eltham v5 loans can be a great idea. Get in touch to find out more.

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

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

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Greenwich, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Eltham loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

Is it a problem if I can’t prove my income level?

In order to qualify for Eltham logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Greenwich V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

Will my HPI check show any Logbook Loans?

All loans such as Eltham V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires Greenwich lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

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.