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Fast Logbook Loans in Saltfleetby All Saints

Enquire Online Today! - 18 Jan 2019

logbook loans Saltfleetby All Saints

Logbook Loans Saltfleetby All Saints


Need fast convenient cash? Saltfleetby All Saints logbook loans are the answer

Saltfleetby All Saints logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. Assuming your car is currently finance-free your loan can often be arranged quickly and your money provided within 24 hours!

As one of the fastest growing ways to secure a loan, Saltfleetby All Saints Logbook Loans don’t require credit checks or hoops to jump through. Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

The money you borrow can be used towards anything you like too... whether you have some debts you’d like to clear, need a cash boost or would like a new holiday Logbook Loans can provide you with money almost instantly.

No commitment necessary: The quote you receive for your loan is completely obligation-free, so why not just find out the amount available to you?

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 mobile: It’s easy to stay mobile whilst still lending money against your car with a Logbook Loan. You can drive for the whole loan period!

60sec application: Apply online for your free Saltfleetby All Saints Logbook Loan quote in just a minute with our online application form.

Your money to use: Spend your new loan on anything you fancy, from paying off other debts to buying a holiday you have complete freedom of choice.

Flexible loans: Your borrowing needs are likely to differ from that of others, so apply online and speak to someone direct about your own individual needs.

It’s a simple process to apply for your Saltfleetby All Saints Logbook Loan quote too, take just 60 seconds of your time to complete our online quote application form with some basic details, you will then hear from a loan provider direct to discuss your application further.

With obligation-free quotes delivered direct, why not apply online to see how much you could lend with Saltfleetby All Saints Logbook Loans?

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Saltfleetby All Saints logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Saltfleetby All Saints

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Saltfleetby All Saints then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Saltfleetby All Saints logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Lincolnshire

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Lincolnshire 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 Saltfleetby All Saints. You will still have to prove you can afford the repayments however.

Saltfleetby All Saints business v5 loans

What About Companies?

Saltfleetby All Saints 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.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples 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

Loan Value Calculator

Use the sliders to see how much you could lend against your logbook in Saltfleetby All Saints, up to a maximum 80%.

7000
80%

£5600

FAQs About Saltfleetby All Saints V5 Loans

If you’ve got any questions about Saltfleetby All Saints 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 do Lincolnshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Saltfleetby All Saints 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 Saltfleetby All Saints 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 Lincolnshire 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.

Why might a Logbook Loan be a good idea?

If you live in Saltfleetby All Saints, 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 Lincolnshire 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.

Can unemployed Saltfleetby All Saints residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. Lincolnshire V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

Does poor credit history affect Lincolnshire applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and Lincolnshire 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.

What happens if I can’t prove my current income?

Lincolnshire V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Saltfleetby All Saints applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

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 Lincolnshire 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 I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

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.