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Quick Logbook Loans in Wollaton

Enquire Online Today! - 16 Oct 2019

logbook loans Wollaton

Logbook Loans Wollaton


Wollaton logbook loans can unlock the value in your car

Wollaton logbook loan quotes

Borrow money against the current value of your car and lend from £400 to £50,000 whilst still driving it! You can even receive your money in as little as 24 hours if your car is free from any finance.

Rapidly becoming the most popular way to secure a loan, Wollaton Logbook Loans bypass the usual credit checks and hoops to jump through. If you’ve been refused a loan for whatever reason then this could well be your best way to obtain the funding you need.

You can do anything you like with the borrowed funds... Logbook Loans give you the flexibility to pay of other loan amounts, go on holiday or just release some cashflow if you prefer.

No risk quotes: All the quotes provided are completely risk-free as there is never any pressure to commit to a loan.

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.

Continue driving: Conveniently you get to keep the keys to your car so you can both borrow money and carry on driving for the loan duration!

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

Your money to spend: You can spend any money borrowed however you wish, you aren’t restricted in any way. Your loan, your money.

Flexible loan durations: Your new loan needs to suit your lifestyle and budget, so get in touch to discuss the best possible options to suit your requirements.

Fortunately it’s simple to apply for Wollaton Logbook Loans with our site, just use the online form on this page to tell us a little about yourself and your vehicle, a specialist loan provider will then be in touch direct to further discuss your lending needs and to supply your free quote.

Your free no-obligation Wollaton Logbook Loan quote is just around the corner, so why not apply online today?

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Wollaton v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Wollaton

Prestige, Vintage & Classic Vehicles

Any proud Wollaton owners of either a classic, prestige or vintage car can be eligible to take out a loan too. As each and every loan is based around the current value of your vehicle then high-end vehicles such as Rolls-Royce, Bentley, Aston Martin or classic cars such as Mercedes, Morgan can qualify as they are still desirable in the current market. The application to borrow against a more prestigious car is exactly the same.

no credit check Wollaton 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 Nottinghamshire

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Wollaton to get a loan as most lenders want to see a more secure income. Nottinghamshire Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Wollaton business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Wollaton 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.

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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding Wollaton logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

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 Wollaton residents can borrow depends on just how much their car is worth; some Nottinghamshire 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.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why are Logbook Loans a good idea?

They are often a good type of loan for Wollaton borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Nottinghamshire V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out Wollaton V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Nottinghamshire and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Wollaton. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Nottinghamshire.

Is it a problem if I can’t prove my income level?

In order to qualify for Wollaton logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Nottinghamshire V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

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.

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.