Enter Your Reg Click Here!

First-Class Logbook Loans in Combe Hay

Enquire Online Today! - 17 Jan 2019

logbook loans Combe Hay

Logbook Loans Combe Hay


Got a car and need quick cash? Try Combe Hay logbook loans

Combe Hay logbook loan quotes

Did you know you can lend against the value of your car and get same day money whilst still driving it? In less than 24 hours you could receive your loan amount providing your car is free from finance.

You don’t have to jump through hoops or undergo a lot of checks with Combe Hay Logbook Loans either, which is why they’re so popular! If you need funds but have been refused with other types of loans then this type of loan might be the answer.

The money borrowed can be spent on anything you like too... whether you want to clear off some debts, book a holiday or simply boost your cashflow a logbook lending company can often provide you with the required funds on the same day.

Free quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

Poor credit history? If you have ever been declined a loan due to your credit history then you don’t have to worry, you may still be approved!

Use your car: Keep on the road throughout the loan period with a Logbook Loan. You can borrow money and keep the keys to your car!

One minute application: Applying for your Combe Hay Logbook Loan quote is simple, quick and can be done 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 loan periods: Your V5 Loan can be tailored to fit in with your lifestyle and budget, chat with an advisor to see how you can make it work for you.

It couldn’t be easier to apply for your Combe Hay Logbook Loan, in fact all you need to do is complete the short application form on this page with some basic information, you will then be contacted by a specialist to discuss your lending needs further.

Discover how much you could be lending with Combe Hay Logbook Loans, apply online today!

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Combe Hay logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Combe Hay

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Combe Hay then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Combe Hay logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Somerset

Are the Self-Employed Eligible to Borrow?

If you’re in Combe Hay and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Somerset lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

Combe Hay business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Combe Hay 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 Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look 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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning Combe Hay logbook loans.

How do Somerset Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among Combe Hay residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Somerset residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Why opt for Combe Hay Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Somerset, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Combe Hay loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

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

Combe Hay 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!

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Combe Hay borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Somerset lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Somerset lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

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

Combe Hay 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 Somerset 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.

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.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Somerset lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

Should you have any further queries you can hear direct from an advisor by simply filling-in the form above. An advisor will be in touch direct to chat further about our lending requirements and whether a V5 loan is suitable for your needs.