Enter Your Reg Click Here!

First-Rate Logbook Loans in South Farnborough

Enquire Online Today! - 24 Sep 2022

logbook loans South Farnborough

Logbook Loans South Farnborough


Release cash from your car with South Farnborough logbook loans

South Farnborough logbook loan quotes

If you’re looking to borrow anything from £400 - £50,000 whilst still keeping mobile then this could be the loan for you. Providing your car is free of finance you can get your money in as little as 24 hours from applying!

One of the most hassle-free and quick ways to lend money, South Farnborough Logbook Loans have become one of the most popular ways to obtain funds. Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

The money you lend can be used for any purpose you like... a Logbook Loan provides complete flexibility and the freedom to spend the money on anything from paying off other loans to going on holiday.

No obligation necessary: There isn’t ever any pressure to take out a loan, so get yourself an obligation-free logbook loan quote today!

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!

Keep on driving: Drive your car as per normal throughout the loan period whilst still benefitting from the borrowed money.

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

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: If you need to tailor your loan to suit your own requirements better then get in touch to speak to an expert about your lending needs.

Luckily our site makes it easy to apply for South Farnborough Logbook Loans, take just 60 seconds of your time to complete our online quote application form with some basic details, you will then be contacted by a specialist to discuss your lending needs further.

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

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 South Farnborough 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 South Farnborough

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in South Farnborough and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check South Farnborough 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 Hampshire

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Hampshire 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 South Farnborough. You will still have to prove you can afford the repayments however.

South Farnborough business v5 loans

Can a Business Get a Loan?

Logbook loans are available for South Farnborough 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 From £400 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

Frequently Asked Questions

It’s only natural to have a number of questions regarding V5 loans, so we have compiled a series of answers to the more frequently asked questions. Please get in touch to discuss any element of South Farnborough logbook loans further.

How do Hampshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where South Farnborough 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 South Farnborough residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

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 Hampshire 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.

What makes South Farnborough 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 Hampshire 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 South Farnborough v5 loans can be a great idea. Get in touch to find out more.

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

One requirement of taking out South Farnborough 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 Hampshire 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 South Farnborough loan application?

A poor credit score normally means refusal for any other type of Hampshire 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!

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, South Farnborough v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Hampshire lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial reimbursement of up to £30,000.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.