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Convenient Logbook Loans in Hoarwithy

Enquire Online Today! - 25 Jun 2019

logbook loans Hoarwithy

Logbook Loans Hoarwithy


Lend cash from your car with Hoarwithy logbook loans

Hoarwithy logbook loan quotes

Should you need same day money then borrowing against your car could be the solution for you. What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

With Hoarwithy Logbook Loans you aren’t required to undergo credit checks or jump through hoops like other loans making them incredibly popular. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

Any money lent can be used for whatever reason you like... Logbook Loans give you the freedom to spend your money freely so you could pay off some other debts or go on holiday, the choice is yours!

Obligation-free quotes: You can apply for a free quote safe in the knowledge that there is never any pressure to commit.

Been refused a loan? Perhaps you’ve been declined loans in the past because of a ’less than perfect’ credit history? Your application might well be accepted with a Logbook Loan.

Continue to drive: A Logbook Loan lets you borrow money whilst keeping the car keys, so you can continue to drive for the loan period.

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Hoarwithy Logbook Loan quote!

Your money to use: It’s your loan so you can spend the money as you see fit. Logbook Loans give you complete control over the money loaned.

Flexible loan durations: Your loans can be tailored to suit your own individual needs, speak to a specialist to see what can be arranged for you.

Applying for Hoarwithy Logbook Loan quotes is a simple process too, just tell us about yourself and your vehicle using our quick online application form, we’ll then arrange for a Logbook Loan expert to get in touch direct to discuss your application further.

With free no-obligation quotes, why not see how much you could lend with Hoarwithy Logbook Loans?

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Hoarwithy lenders might limit the borrowing to cars under 8 years of age, the lenders on our Herefordshire network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Hoarwithy

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Hoarwithy and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Hoarwithy logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Herefordshire

Refused a Loan Due To Self-Employment?

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

Hoarwithy business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Hoarwithy business, you may be able to do so in one of two ways. First, you can enquire about a loan on a vehicle that is registered in your name; this is much the same as obtaining a personal logbook loan. Second, you can also use a company vehicle that is registered in the business’s name if the business name and your name match. You should always check with individual lenders for their policies.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Hoarwithy Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Herefordshire.

7000
80%

£5600

Hoarwithy V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Hoarwithy logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

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 Hoarwithy residents can borrow depends on just how much their car is worth; some Herefordshire 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 exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Herefordshire residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Are Hoarwithy 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 Herefordshire 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.

Unemployed but want a Logbook Loan... is this possible?

Hoarwithy residents that find themselves unemployed but still want to take out a loan gainst there vehicle have to meet certain criteria in order to be successful. For instance you have to prove that the monthly loan repayments are affordable in order to avoid arrears and the possible loss of your car. Responsible Herefordshire lenders won’t grant loans to those who cannot afford the repayments. To find out more simply get in touch today!

What about Herefordshire residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Herefordshire loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Hoarwithy billing address, proof of identification, MOT certificate and proof of income.

What happens if I can’t prove my current income?

Herefordshire V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Hoarwithy applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

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 V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

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.

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.