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Quick Logbook Loans in Barkway

Enquire Online Today! - 20 Sep 2021

logbook loans Barkway

Logbook Loans Barkway


Got a car and need quick cash? Try Barkway logbook loans

Barkway logbook loan quotes

If you want to keep on driving your car, but want to unlock some of the value from it then keep on reading. If there is no existing finance attached to your vehicle then your loan amount could be delivered in under 24 hours!

Barkway Logbook Loans have fast become amongst the most popular ways to secure a loan without the usual hassles and checks other loans require. Refused a loan in the past? Choosing this type of loan could be the answer to all your money lending needs.

It’s no problem what you want to use the borrowed money for... a Logbook Loan provides complete flexibility and the freedom to spend the money on anything from paying off other loans to going on holiday.

Free quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

Accessible loans: You’ll be pleased to hear that your credit history might not scupper your application. Great if you’ve been refused before!

Keep on driving: Need to lend some money and stay mobile? No problem with a Logbook Loan... borrow the money and keep your car keys!

Easy online application: Just provide us with some basic information using our online form to apply for your Barkway Logbook Loan quote.

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Flexible loans: An ’out-the-box’ loan solution might not meet your lending needs, so get in touch to discuss a Logbook Loan with an advisor today!

It’s simple to apply for Barkway Logbook Loans as well, our application form takes just 60 seconds to complete and that’s all you need to do, a loan expert will then get in contact with you direct to speak further about your Logbook Loan application.

Discover how much you could be lending with Barkway Logbook Loans, apply online 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 Barkway 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 Barkway

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 Barkway 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 Barkway logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Hertfordshire

Self-Employed - Do I Qualify?

It has long been a problem for the Barkway self-employed to qualify for any type of loan as most Hertfordshire lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Barkway business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Barkway business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

Borrow From £400 to £50k - Examples

If you are eligible for a loan then you can release up to 80% of your car’s market value, which can be anything from £400 - £50,000 covering most lending requirements. We’ve created a list of lending examples so you can get an idea of loan amounts 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

Barkway Loan Calculator

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

7000
80%

£5600

Your Questions Answered

Though applying for your Barkway logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How do Barkway Logbook Loans work?

The way Hertfordshire loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Hertfordshire and are increasing in popularity with those with bad credit.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why might a Logbook Loan be a good idea?

If you live in Barkway, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Hertfordshire residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

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

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

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Barkway borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Hertfordshire lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Hertfordshire lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

What if I can’t prove my income?

In order to be eligible for Barkway V5 loans the lender needs to be sure that you can afford the repayments. Responsible lending is important to ensure you don’t fall into arrears or risk losing ownership of your vehicle, and if the lender cannot prove this then you won’t be offered a loan. In circumstances such as this it’s always best to get in touch direct using the form you can see on this page.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

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 Hertfordshire 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.

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.