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First-Rate Logbook Loans in Grangetown

Enquire Online Today! - 12 Nov 2019

logbook loans Grangetown

Logbook Loans Grangetown


Lend cash from your car with Grangetown logbook loans

Grangetown logbook loan quotes

Borrow money against the current value of your car and lend from £400 to £50,000 whilst still driving it! If your car is finance-free then there’s a good chance you could even receive your loan within 24 hours!

Grangetown Logbook Loans are a great way to secure yourself a loan whilst avoiding the usual hassles and checks that other loans need. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

It doesn’t matter what you want to do with your money... with a Logbook Loan you get complete freedom to do what you like with the money, so why not clear some debts or even go on a holiday?

No obligation necessary: You don’t have to commit to a loan, so why not apply online to see how much you could be borrowing with a Logbook Loan?

Refused loans before? It can be embarrassing to be refused a loan due to poor credit history, so Logbook Loans might be the best option for you.

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

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Grangetown 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.

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.

Applying for Grangetown Logbook Loan quotes is a simple process too, in fact you only need to complete the short quote application form on this page which won’t take you more than a minute, soon afterwards a specialist will get in touch with you direct

Why not discover just how much you could borrow with a free Grangetown Logbook Loan quote today?

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Grangetown lenders will limit the age of an eligible car to 8 years, but the lenders on our North Yorkshire network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Grangetown

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 Grangetown 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 Grangetown 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 North Yorkshire

Self-Employed? You Could Still Borrow

Most North Yorkshire lenders want proof of regular income which makes it very difficult for the self-employed in Grangetown to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

Grangetown business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Grangetown businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

Borrow From £400 to £50k - Examples

If you are eligible for a loan then you can release up to 80% of your car’s market value, which can be anything from £400 - £50,000 covering most lending requirements. We’ve created a list of lending examples so you can get an idea of loan amounts 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

North Yorkshire Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Grangetown V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

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 Grangetown residents can borrow depends on just how much their car is worth; some North Yorkshire 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 documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of North Yorkshire residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Are North Yorkshire Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. North Yorkshire applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Grangetown V5 Loans a great idea for many.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out North Yorkshire loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in Grangetown and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

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 Grangetown 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 North Yorkshire 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.

I can’t prove my income, is that a problem?

Grangetown V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional North Yorkshire lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

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 period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.