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Professional Logbook Loans in Bowthorpe

Enquire Online Today! - 17 Jan 2019

logbook loans Bowthorpe

Logbook Loans Bowthorpe


Bowthorpe logbook loans can unlock the value in your car

Bowthorpe logbook loan quotes

You could carry on driving your car and have anything from £400 to £50,000 in your account on the same day. If you can has no finance attached to it you could access your loan in as little as 24 hours!

With Bowthorpe Logbook Loans you aren’t required to undergo credit checks or jump through hoops like other loans making them incredibly popular. Refused a loan in the past? Choosing this type of loan could be the answer to all your money lending needs.

It doesn’t matter what you wish to spend the money on either... so if you have some debts to clear, want to book a new holiday or want to boost your cashflow then Logbook Loans can provide access to the funds very quickly.

No risk quotes: With no commitment and no-obligation necessary why not get yourself a free quote to see how much you could loan?

Poor credit history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Keep driving your car: Keep the keys and carry on driving your car whilst enjoying borrowing some of the value.

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

Your money to spend: Your loan is yours to spend however you like, so whatever your reason for wanting a loan you have complete control.

Loans to suit you: You can arrange a loan that not only suits your lending needs, but suits your budget too. For instance longer repayment durations.

Applying for Bowthorpe Logbook Loans is a simple straightforward process, the quote application form on this page won’t take more than a minute to complete with some basic details, shortly after you will be contacted to discuss your loan requirements direct.

With a free Bowthorpe Logbook Loan quote available in no time at all, why not apply online today to see how much you could borrow?

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Bowthorpe lenders only let you borrow against cars under 8 years old, the Norfolk lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Bowthorpe

Borrowing Against a Classic or Prestigious Vehicle

Bowthorpe owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Bowthorpe logbook loans

No Credit Check Logbook Loans?

Not true unfortunately, however don’t let that put you off! Even though all applicants are credit checked you may find that these loans are more attainable as your car is used as security for the duration of the loan, which is why people can often be accepted when they have been denied more traditional loans. So if you’ve been denied a loan before due to a poor credit score then give a V5 loan a try and find out today.

loans for self employed in Norfolk

Are the Self-Employed Eligible to Borrow?

If you’re in Bowthorpe and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Norfolk 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.

Bowthorpe business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Bowthorpe business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

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

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

Frequently Asked Questions

It’s only natural to have a number of questions regarding V5 loans, so we have compiled a series of answers to the more frequently asked questions. Please get in touch to discuss any element of Bowthorpe logbook loans further.

How do Norfolk V5 Logbook Loans work?

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

What documents should I supply to proceed?

Loan enquiries are not complicated, and most can be completed in just a few minutes. After providing some basic information about yourself, you should be prepared to provide copies of your photo ID, V5 documents, current MOT, most recent utility bill (must be in your name), proof of car insurance, and proof of income, which may be a copy of your bank statement or several payslips.

Why might a Logbook Loan be a good idea?

If you live in Bowthorpe, 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 Norfolk 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 the unemployed secure a Logbook Loan?

Bowthorpe individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Norfolk might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Bowthorpe borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Norfolk lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Norfolk lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

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

Responsible lending entails only lending money to Bowthorpe 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. Bowthorpe 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.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Norfolk lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

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.

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.