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Expert Logbook Loans in Plumstead Common

Enquire Online Today! - 11 Dec 2019

logbook loans Plumstead Common

Logbook Loans Plumstead Common


If you need quick cash then Plumstead Common logbook loans are for you

Plumstead Common 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.. The money can even be yours in less than 24 hours providing your car doesn’t have any finance attached to it!

Hassle-free and quick... Plumstead Common Logbook Loans are one of the most popular ways in which to lend money without the usual credit checks and obstacles. If you are being declined loans from other providers then this type of loan might be the answer to your lending needs.

Furthermore any money borrowed can be spent however you like, on whatever you like... a Logbook Loan gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

Free quotes: No cost, risk or commitment is necessary with your free logbook loan quote. Discover how much you could borrow today!

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 driving: Stay mobile and drive your car as normal throughout the loan while you borrow the money with a Logbook Loan.

60secs to apply: You can apply for your Plumstead Common Logbook Loan quote in less than a minute with just a few basic online details.

Your money to spend: You can spend any money borrowed however you wish, you aren’t restricted in any way. Your loan, your money.

Flexible loans: If you need a loan that can suit you and your own individual requirements, not an out-the-box solution then get in touch today.

Getting your Plumstead Common Logbook Loan quote couldn’t be more straightforward, just tell us about yourself and your vehicle using our quick online application form, a Logbook Loan provider will then contact you direct to discuss your requirements and to provide your obligation-free quote.

Free quotes for Plumstead Common Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Plumstead Common v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Plumstead Common

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Plumstead Common then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Plumstead Common 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 Greenwich

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Greenwich lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Plumstead Common. You will still have to prove you can afford the repayments however.

Plumstead Common business v5 loans

Logbook Loans and Businesses

A small Plumstead Common business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

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 Plumstead Common V5 Loans

If you’ve got any questions about Plumstead Common 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 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 Plumstead Common 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 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.

Why are Logbook Loans a good idea?

They are often a good type of loan for Plumstead Common 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, Greenwich 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.

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

One requirement of taking out Plumstead Common 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 Greenwich and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

Does my poor credit score affect my Plumstead Common loan application?

A poor credit score normally means refusal for any other type of Greenwich loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

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

In order to qualify for Plumstead Common 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 a Logbook Loan show on a HPI check?

Greenwich 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.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

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.