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Expert Logbook Loans in Coldharbour

Enquire Online Today! - 15 Dec 2019

logbook loans Coldharbour

Logbook Loans Coldharbour


Unlock the value in your car easily with Coldharbour logbook loans

Coldharbour logbook loan quotes

Did you know you can lend against the value of your car and get same day money whilst still driving it? You could even have the money in your hand in less than a day if there is currently no finance on your vehicle!

Coldharbour Logbook Loans don’t require you to undergo credit checks or jump through hoops unlike other loans, which is why they’re so popular! If other loan providers have refused your applications then take these into consideration, they could be the perfect solution.

Your borrowed funds can be used for any purpose too... clear some debts, go on holiday, boost your cashflow, whatever you decide to do the choice is yours.

Risk-free quotes: Get a free no-obligation quote to see just how much you could release from the value of your car without having to commit.

Hassle-free application: In order to qualify for a Logbook Loan you won’t need to jump through hoops unlike other loan types.

Keep mobile: It’s easy to stay mobile whilst still lending money against your car with a Logbook Loan. You can drive for the whole loan period!

Apply online in 60secs: Applying for your Coldharbour Logbook Loan quote takes just a minute and couldn’t be simpler.

Your money to use: It’s your loan, so your money to spend however you like. There are no restrictions on how you can spend your Logbook Loan.

Loan periods to suit you: It’s no good getting a loan that doesn’t meet your needs, so get in touch to discuss the various options available to you today!

It’s not difficult to apply for Coldharbour Logbook Loan quotes either, just complete the short application form on this page with some basic details regarding your car and yourself, an expert loan provider will then be in touch direct to provide more information and a free Logbook Loan quote.

With simple online application and free no-obligation Coldharbour Logbook Loan quotes, why not see how much you could lend now!

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Coldharbour lenders will limit the age of an eligible car to 8 years, but the lenders on our Havering network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Coldharbour

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Coldharbour classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Coldharbour 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 Havering

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Coldharbour 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 Havering 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.

Coldharbour business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Coldharbour companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

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

Loan Percentage Calculator

It’s simple to use our online loan calculator... just use the sliders below to set your car value and loan percentage.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Coldharbour V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

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 Coldharbour residents can borrow depends on just how much their car is worth; some Havering 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 Havering 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.

Are Coldharbour Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Havering residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Havering personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Coldharbour Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

Does my poor credit score affect my Coldharbour loan application?

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

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Coldharbour applicants who can afford to make the monthly repayments. Coldharbour v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

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.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Havering lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

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.