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First-Class Logbook Loans in Hoo

Enquire Online Today! - 23 Sep 2019

logbook loans Hoo

Logbook Loans Hoo


Hoo logbook loans can unlock the value in your car

Hoo logbook loan quotes

If you’re looking to get a loan that’s convenient where you can still drive your car then this could be the solution for you! You can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

Hoo Logbook Loans have established themselves as one of the most popular loan types with no hoops to jump through or credit checks. If you’ve been refused a loan for whatever reason then this could well be your best way to obtain the funding you need.

The borrowed money can also be used for whatever you like... with Logbook Loans you can clear some debts, go on a holiday or anything you like with the money. You have complete control over the money.

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

Poor credit rating? There isn’t the need to have a perfect credit history when taking out a V5 loan, which makes it accessible to more people.

Continue driving: Conveniently you get to keep the keys to your car so you can both borrow money and carry on driving for the loan duration!

Apply online: Simply take a minute to complete our online quote application form to apply for your Hoo Logbook Loan quote.

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Loans that suit you: Get in touch with a specialist that can arrange your loan to suit your requirements. All lending requirements differ from person to person.

Applying for Hoo Logbook Loans is a simple straightforward process, you only have to complete our online form which won’t take you more than a minute, shortly after you will be contacted to discuss your loan requirements direct.

Find out just how much you could borrow against your car with a free Hoo Logbook Loan quote today!

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Hoo lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Hoo

Prestigious, Classic and Vintage Cars

If you are a Hoo classic car owner, or own a vintage or prestige car then you could still get a V5 loan. Based on the value of your vehicle you could borrow up to 80% of the current market value. So if you are the proud owner of a Bentley, Porsche, Maserati, Rolls-Royce or even a classic car then you can enquire in exactly the same way as any other car. Find out by enquiring online today.

no credit check Hoo 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 Kent

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most Kent lenders want a guaranteed income. If you apply for Hoo car V5 loans however, the lender takes into consideration your vehicle being used as security for the payments so you may be eligible to borrow. In order to comply with responsible lending, you are still required to prove you can cover the monthly payments.

Hoo business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Hoo 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.

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

Calculate Your Loan

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

Your Questions Answered

Though applying for your Hoo 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 Kent V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Hoo 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 Hoo 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 Kent 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 Kent Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. Kent applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Hoo V5 Loans a great idea for many.

Can unemployed persons secure a Logbook Loan?

To be eligible for Hoo loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Kent loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does poor credit history affect Kent applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Kent residents are finding them very popular. As your car is used as security it makes the loan lower risk to the lender so they are more likely to agree to the loan. You will still have your credit checked, but the outcome is normally more positive than if you had tried for a loan elsewhere.

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 Hoo applicants who can afford to make the monthly repayments. Hoo 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.

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.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

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.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.