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Quick Logbook Loans in Bath

Enquire Online Today! - 23 Sep 2019

logbook loans Bath

Logbook Loans Bath


Need fast convenient cash? Bath logbook loans are the answer

Bath logbook loan quotes

Borrow money against the current value of your car and lend from £400 to £50,000 whilst still driving it! You could even have the money in your hand in less than a day if there is currently no finance on your vehicle!

Bath Logbook Loans are perfect for those not wanting to undergo credit checks and jump through the hoops associated with other loan types. Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

The money you borrow is yours to spend on anything your like... 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 quotations: There’s no risk involved in getting a free quote as you never have to commit. Find out how much you could borrow today!

Accessible loans: If you have had a loan refused before you’ll be pleased to know you could well qualify with a Logbook Loan.

Stay mobile: Drive your car for the entire loan period whilst receiving the money loaned against it with a Logbook Loan.

60secs to apply: That’s right! It only takes a minute to apply for your free Bath Logbook Loan quote via our online form.

Any purpose: No matter what your reason for taking out a loan, you have total control over how you spend your money.

Flexible loans: An ’out-the-box’ loan solution might not meet your lending needs, so get in touch to discuss a Logbook Loan with an advisor today!

This website makes the Bath Logbook Loan application process simple too, it takes less than a minute to apply online using our short application form, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

Free quotes for Bath Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Bath V5 lenders. Many other Somerset companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Bath

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 Bath 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 Bath 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

Refused Elsewhere Due To Self-Employment?

Obtaining a loan when you are self-employed in Bath can be difficult as it is often hard to prove income stability. A loan against a logbook could provide the funds you need as your car is used as security against the loan making it less-risky for Somerset lenders. Why not enquire online to discuss your lending needs? Please be aware that you need to demonstrate your ability to make repayments as part of responsible lending requirements.

Bath business v5 loans

What About Companies?

Bath business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

Your Questions Answered

Though applying for your Bath logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How do Bath Logbook Loans work?

The way Somerset loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Somerset and are increasing in popularity with those with bad credit.

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 in Bath a good idea?

This kind of loan is ideal for Somerset residents who have bad credit score and have no other form of finance available to them. Regardless of how bad or poor your credit score history, there could be less chance of getting rejected. You simply need to meet the requirements, especially pertaining ownership of the car, and you could be approved for the loan. Your credit history might not be a negative factor when issuing the approval for your loan application. Generally, approval for lending against your Bath vehicle mainly depends on the make or model of the car that you’re using as security. You can even get money on the same day!.

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

Bath 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 Somerset 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 Bath 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, Somerset residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Somerset 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.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Somerset can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Bath V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

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 V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.