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Quality Logbook Loans in Bagworth

Enquire Online Today! - 22 Aug 2019

logbook loans Bagworth

Logbook Loans Bagworth


Your car is the answer to quick cash with Bagworth logbook loans

Bagworth logbook loan quotes

Keep driving and borrow the money you need, you can lend anything from £400-£50,000 against your car whilst staying mobile. If your car is free of all finance arrangements then it’s possible to get your loan agreed and delivered in under 24 hours!

One of the fastest growing and most popular types of loan, Bagworth Logbook Loans bypass the usual credit checks and obstacles that other loans require. If any previous loan requests have been denied then you might find this is the solution that can deliver the funds you need.

The money you release from your car can be used for any purpose... why not pay off a few debts, treat yourself to a holiday or even give your cashflow a boost? Logbook Loans can provide you with the funds you need quickly and easily.

No risk quotes: Your free logbook loan quote is totally obligation-free and therefore risk-free, so apply online today to see how much you could loan!

Poor credit? If you’ve been refused a loan elsewhere due to bad credit ratings then try a Logbook Loan which can be far more accepting.

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

Easy online application: All you need to do to apply for your Bagworth Logbook Loan quote is fill-in our 60sec online form with some detials.

Loans for any usage: You can use the money borrowed with a Logbook Loan for any purpose, you aren’t restricted in how you can spend the money.

Loans that suit you: If you need to lend money over a longer duration then speak to the specialist who can factor in your own specific needs.

Luckily our site makes it easy to apply for Bagworth Logbook Loans, all you have to do is fill in our online quote application form with a few basic details, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

Apply for your free no-obligation Bagworth Logbook Loan quote today to see how much you could lend against your vehicle.

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 Bagworth 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 Bagworth

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 Bagworth 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 Bagworth logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Leicestershire

Self Employment - Refused Elsewhere?

Are you self-employed in Bagworth? Struggling to get a loan due to an irregular income? With a logbook document loan your vehicle is used as collateral against your loan repayments which provides more security for Leicestershire lenders. You may still be eligible for a loan even if you work for yourself. You will still need to prove that you can afford the repayments as part of a responsible lending approach, so get in touch to discuss your lending needs.

Bagworth business v5 loans

What About Companies?

Bagworth business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

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

Bagworth Loan Calculator

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

7000
80%

£5600

FAQs About Bagworth V5 Loans

If you’ve got any questions about Bagworth logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How Logbook Loans work

If you own a car and live in Leicestershire, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

What documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of Leicestershire residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Why are Logbook Loans in Bagworth a good idea?

This kind of loan is ideal for Leicestershire residents who have bad credit score and have no other form of finance available to them. Regardless of how bad or poor your credit score history, there could be less chance of getting rejected. You simply need to meet the requirements, especially pertaining ownership of the car, and you could be approved for the loan. Your credit history might not be a negative factor when issuing the approval for your loan application. Generally, approval for lending against your Bagworth vehicle mainly depends on the make or model of the car that you’re using as security. You can even get money on the same day!.

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

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

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Leicestershire, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Bagworth loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

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

Responsible lending entails only lending money to Bagworth 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. Bagworth 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.

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.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

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.