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First-Rate Logbook Loans in Ashgrove

Enquire Online Today! - 20 Sep 2019

logbook loans Ashgrove

Logbook Loans Ashgrove


Got a car and need quick cash? Try Ashgrove logbook loans

Ashgrove logbook loan quotes

Stay mobile whilst lending the money you need for whatever you need. You can borrow up to £50,000 while keeping on the road. If you can has no finance attached to it you could access your loan in as little as 24 hours!

Now amongst the most popular ways to secure a fast loans, Ashgrove Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. They can often be the ideal solution for those who have had loan applications declined before.

Any funds borrowed against your vehicle can be used for any purpose... whether you want to clear off some debts, book a holiday or simply boost your cashflow a Logbook Loan can provide you with the required funds quickly.

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

Hassle-free loans: You don’t have to jump through hoops to get yourself a Logbook Loan, even CCJs and arrears can be accepted!

Stay mobile: You get to keep the keys to your car with a Logbook Loan, so you can keep on driving throughout the duration of the loan.

Apply online in 60secs: Applying for your Ashgrove Logbook Loan quote takes just a minute and couldn’t be simpler.

Any reason loans: Need a no-questions asked loan that you can spend however you like? A logbook loan gives you complete control over your money.

Flexible loans: Have a chat to a specialist to see just how suitable a Logbook Loan can be to your own individual borrowing requirements.

Luckily applying for Ashgrove Logbook Loans is a simple process, just complete the short application form on this page with some basic details regarding your car and yourself, shortly after you will be contacted to discuss your loan requirements direct.

Why not apply online today to see just how much you could lend with Ashgrove Logbook Loans?

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Ashgrove lenders only let you borrow against cars under 8 years old, the Somerset 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 Ashgrove

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Ashgrove 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 Ashgrove logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in Somerset

Self-Employed? You Could Still Borrow

Most Somerset lenders want proof of regular income which makes it very difficult for the self-employed in Ashgrove 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!

Ashgrove business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Ashgrove 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.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Somerset 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

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Ashgrove applicants.

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 Ashgrove residents can borrow depends on just how much their car is worth; some Somerset 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 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 Somerset residency, and some form of income validation that proves your ability to repay your obligation.

Are Somerset 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. Somerset 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 Ashgrove V5 Loans a great idea for many.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Somerset residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Ashgrove loan application, simply enquire online using the form on this page.

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

What happens if I can’t prove my current income?

Somerset V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Ashgrove applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Somerset lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What are the repayment durations?

You can choose to repay your loan in either 12, 18 or 36 month instalments. What’s more there is no penalty for settling your loan early so you could save money on monthly interest payments by repaying your loan sooner.

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.