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Easy Logbook Loans in North Somercotes

Enquire Online Today! - 18 Jan 2019

logbook loans North Somercotes

Logbook Loans North Somercotes


Lend cash from your car with North Somercotes logbook loans

North Somercotes logbook loan quotes

Stay mobile whilst lending the money you need for whatever you need. You can borrow up to £50,000 while keeping on the road. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

With North Somercotes Logbook Loans you won’t have to jump through hoops or undergo embarrassing credt checks which helps explain their popularity. They could be the perfect lending solution if you have had a loan application refused in the past.

What’s more the money loaned can be spent on anything you fancy... 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!

No commitment necessary: There isn’t any commitment necessary on your behalf when you get your free quote, so there’s no risk in simply finding out.

Hassle-free loans: You don’t have to jump through hoops to get yourself a Logbook Loan, even CCJs and arrears can be accepted!

Keep driving your car: You can stay mobile whilst releasing value from your car throughout your loan’s duration.

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

Loans for any purpose: Your new loan amount is yours to spend however you like, whether it’s to pay off some other bills or to go on holiday!

Flexible loan periods: Your lending requirements might differ from others, so get in contact with a specialist to chat further about your borrowing needs.

Getting your free North Somercotes Logbook Loan quote couldn’t be easier, the simple application form you can see on this page is all you need to fill-in with some basic details, we will then arrange for a loan provider to get in touch with you to chat about your money lending needs.

With free no-risk quotes available in minutes, why not discover just how much North Somercotes Logbook Loans could allow you to lend?

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other North Somercotes V5 lenders. Many other Lincolnshire companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in North Somercotes

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 North Somercotes 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 North Somercotes 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 Lincolnshire

Are the Self-Employed Eligible to Borrow?

If you’re in North Somercotes and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Lincolnshire lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

North Somercotes business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your North Somercotes 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.

Unlock £400 - £50,000 From Your Car

Most lending requirements are covered by the amount you can borrow with a V5 loan. You can unlock up to 80% of your current car’s value (which can be anything from £400 up to £50,000). Here’s a table showing some typical borrowing amounts at 80%

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

FAQs About North Somercotes V5 Loans

If you’ve got any questions about North Somercotes 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 - 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 North Somercotes residents can borrow depends on just how much their car is worth; some Lincolnshire 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 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 Lincolnshire residency, along with payslips or bank statements that show your income.

Are Lincolnshire V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, North Somercotes residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Lincolnshire personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. North Somercotes Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Lincolnshire lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all North Somercotes applicants are still credit checked, but may find this type of loan more accepting than others.

Do I qualify if I can’t prove my income?

To qualify for North Somercotes V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Lincolnshire.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Will my HPI check show any Logbook Loans?

All loans such as North Somercotes V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires Lincolnshire lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.