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Convenient Logbook Loans in Sprowston

Enquire Online Today! - 12 Nov 2019

logbook loans Sprowston

Logbook Loans Sprowston


Sprowston logbook loans can unlock the value in your car

Sprowston logbook loan quotes

Need to borrow up to £50,000 whilst still driving your car? You can do this and receive money the same day!. You could receive the loan in less than a day providing your vehicle is finance-free.

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

You can use the money to spend on whatever you like... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the chouce is yours and the money can be arranged quickly.

No-risk quotations: Your free logbook loan quote is completely obligation-free so there’s no harm in finding out how much you could lend!

Accessible loans: You’ll be pleased to hear that your credit history might not scupper your application. Great if you’ve been refused before!

Carry on driving: Release money from your vehicle whilst still keeping the keys and carrying on driving it with a Logbook Loan.

Apply easily online: Take only a minute to complete our application form. Thats all you need to do to apply for your Sprowston Logbook Loan quote!

Your money: The amount you borrow with a Logbook Loan is yours to spend however you may like, the choice is entirely yours.

Loans to suit you: Your own individual loan requirements will likely differ from that of others, so chat to a specialist to arrange a loan to suit you.

Getting your free Sprowston Logbook Loan quote couldn’t be easier, all we need is some basic information about you and your car which you submit via our short online form, a loan provider will then get in touch direct to discuss your requirements further.

With a free Sprowston 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

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 Sprowston 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 Sprowston

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Sprowston and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Sprowston logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Norfolk

Self-Employment - Refused Elsewhere?

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

Sprowston business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Sprowston 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.

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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning Sprowston logbook loans.

How exactly do Norfolk Logbook Loans work?

A loan using your V5 document is a loan that’s secured on your car, so the lender owns your car until you repay the loan. When taking out a loan of this type, you’ll be asked by the lender to hand over the car’s V5 registration document or logbook. You can keep using your car as you repay the loan. You won’t get the logbook back until you have cleared the debt. If you default on the loan payments, your car can be seized by the lender.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Norfolk residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

What makes a V5 Logbook Loan a good idea?

If you are struggling to get approved for a loan in Norfolk because you have bad credit, you should consider applying for a V5 document loan. With these type of loans, all credit is considered. Whether you’ve bad credit score due to missed payments or such other defaults, it might not matter; so long as you live in Norfolk, own a car or have very little finance you simply need to avail the logbook, and you can obtain a loan quickly.

Can the unemployed secure a Logbook Loan?

Sprowston 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.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Sprowston V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Norfolk and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

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

To qualify for Sprowston 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 Norfolk.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Norfolk lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

How long do I have to repay?

Your loan can be arranged with three different repayment durations... 12, 18 or 36 months. Your interest is charged monthly, and there are no penalties for settling the loan early which means you can save money on the total amount payable.

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.