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Professional Logbook Loans in Thorpe Hamlet

Enquire Online Today! - 18 Nov 2019

logbook loans Thorpe Hamlet

Logbook Loans Thorpe Hamlet


Thorpe Hamlet logbook loans can unlock the value in your car

Thorpe Hamlet logbook loan quotes

If you need anything from £400 up to £50,000 then this could be the answer... and you even get to carry on driving your car. If your car is free of finance then from application to receiving your money can be as little as 24 hours!

Thorpe Hamlet Logbook Loans have fast become amongst the most popular ways to secure a loan without the usual hassles and checks other loans require. Refused a loan in the past? Choosing this type of loan could be the answer to all your money lending needs.

The money you borrow is yours to spend on anything your like... the choice is yours, you could clear some other debts or go on a dream holiday. Logbook Loans give you the flexibility and freedom to decide yourself.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

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

One minute application: Applying for your no-obligation Thorpe Hamlet Logbook Loan quote can be done online and only takes a minute!

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

It’s a simple process to apply for your Thorpe Hamlet Logbook Loan quote too, in fact the application process takes just 60 seconds by using the short online form on this page, a specialist will then be in touch direct to chat to you further regarding your lending requirements.

With free Thorpe Hamlet Logbook Loan quotes from a reputable lender, why not discover just how much you could borrow today!

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Thorpe Hamlet logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Thorpe Hamlet

Borrowing Against a Classic or Prestigious Vehicle

Thorpe Hamlet 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 Thorpe Hamlet 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 Norfolk

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Thorpe Hamlet as most Norfolk lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Thorpe Hamlet business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Thorpe Hamlet companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

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

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

Thorpe Hamlet V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Thorpe Hamlet logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How Logbook Loans work

If you own a car and live in Norfolk, 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 should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Norfolk residency, and some form of income validation that proves your ability to repay your obligation.

Why might a Logbook Loan be a good idea?

If you live in Thorpe Hamlet, 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.

Unemployed but want a Logbook Loan... is this possible?

Thorpe Hamlet residents that find themselves unemployed but still want to take out a loan gainst there vehicle have to meet certain criteria in order to be successful. For instance you have to prove that the monthly loan repayments are affordable in order to avoid arrears and the possible loss of your car. Responsible Norfolk lenders won’t grant loans to those who cannot afford the repayments. To find out more simply get in touch today!

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Thorpe Hamlet loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, Norfolk residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Norfolk loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Thorpe Hamlet v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

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.

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.

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.