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Professional Logbook Loans in Chorleywood West

Enquire Online Today! - 08 Dec 2021

logbook loans Chorleywood West

Logbook Loans Chorleywood West


Unlock the value in your car easily with Chorleywood West logbook loans

Chorleywood West logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? They’re quick loans too... in fact providing your car is finance-free your money can be arranged in not time at all.

If you don’t want to jump through hoops and have your credit score checked then Chorleywood West Logbook Loans are the obvious choice, and have become very popular. They could be the perfect lending solution if you have had a loan application refused in the past.

The money you lend can be used for any purpose you like... with Logbook Loans you get complete control over you money so you can spend it on clearing debts, going on holiday or whatever you fancy!

No commitment necessary: Why not get a free quote and see just how much money you could loan against your car’s value?

Hassle-free application: If your credit history has let you down on previous loan applications then don’t worry, you may still be eligible for a loan.

Stay mobile: Drive your car for the entire loan period whilst receiving the money loaned against it with a Logbook Loan.

Apply in seconds: Take just a minute to complete our online form to apply for your Chorleywood West Logbook Loan quote.

Loans for any usage: You can spend the money you borrow with a Logbook Loan on anything you like... from bills to holidays the freedom is yours!

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.

It couldn’t be easier to apply for your Chorleywood West Logbook Loan, just take a moment (less than a minute) to complete our short online form with a few details, you’ll then hear from a loan specialist with whom you can discuss your loan requirements.

You could be receiving a free Chorleywood West Logbook Loan quote in no time at all, so why not apply online today!

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 Chorleywood West lenders might limit the borrowing to cars under 8 years of age, the lenders on our Hertfordshire 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 Chorleywood West

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Chorleywood West 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 Chorleywood West 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 Hertfordshire

Self-Employment - Refused Elsewhere?

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

Chorleywood West business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your Chorleywood West business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

FAQs - Chorleywood West V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Chorleywood West logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How do Hertfordshire V5 Logbook Loans work?

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

What will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your Hertfordshire residency, along with payslips or bank statements that show your income.

Are Chorleywood West 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 Hertfordshire 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.

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

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

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Chorleywood West applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Chorleywood West v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

Who is responsible for general car maintenance?

Although the loan is secured with your car, you get to keep your car throughout the duration of the loan as long as you make the payments on time as agreed. Because the car stays in your possession, it also stays under your car. You will be required to have regular MOT checks, to have the car serviced, and to maintain insurance on the car at all times. If you do not, or if anything should affect the car’s value (other than normal mileage and wear and tear), then you should contact your lender.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Hertfordshire lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Hopefully these should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.