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Expert Logbook Loans in Faulkland

Enquire Online Today! - 20 Sep 2019

logbook loans Faulkland

Logbook Loans Faulkland


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

Faulkland logbook loan quotes

If you need anything from £400 up to £50,000 then this could be the answer... and you even get to carry on driving your car. If your car is finance-free then there’s a good chance you could even receive your loan within 24 hours!

If you don’t want to jump through hoops and undergo credit checks to get your loan then Faulkland Logbook Loans are perfect for you. Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

You can use the money you borrow on anything you want... Logbook Loans offer utter flexibility and the freedom to do what you like such as pay off other loans or go on a holiday with the money.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

Been refused before? If you’ve been thwarted before at the credit check stage when applying for loans then relax... V5 loans are amongst the most accessible loan types.

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!

Simple online application: It couldn’t be easier (or faster!) to apply online for your no-obligaiton Faulkland Logbook Loan quote!

Loans for any purpose: Your new loan amount is yours to spend however you like, whether it’s to pay off some other bills or to go on holiday!

Flexible loan periods: Your lending requirements might differ from others, so get in contact with a specialist to chat further about your borrowing needs.

Thankfully applying for Faulkland Logbook Loans couldn’t be more straightforward, take just 60 seconds of your time to complete our online quote application form with some basic details, you will then be contacted direct to discuss your loan requirements and to provide you with a free quote.

With free no-risk quotes available in minutes, why not discover just how much Faulkland Logbook Loans could allow you to lend?

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Faulkland lenders might limit the borrowing to cars under 8 years of age, the lenders on our Somerset network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Faulkland

V5 Loans For Classic and Prestigious Cars

If you are the lucky owner of a prestigious or classic car then this type of loan could still apply to you! Faulkland residents (if eligible) could get a loan against all makes and models including Aston Martin, Bentley, Rolls-Royce, Porsche and Ferrari not to mention vintage models. The loan amounts are based upon the value of your vehicle, so most older models are considered.

no credit check Faulkland 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 Somerset

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Faulkland as most Somerset lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Faulkland business v5 loans

V5 Business Loans?

Whether you are the owner of your own small Faulkland business or you’re a sole proprietor, there are some instances in which you may be able to get a logbook loan on your company car. This is true if your car is registered in your name, or if your name is part of the company name. The best way to find out if you qualify is to enquire through a lender network, where you can be put in contact with a variety of lenders that may suit your needs.

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

Faulkland Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Somerset.

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 Faulkland logbook loans.

How does a V5 Logbook Loan work precisely?

It is a type of secured loan which provides a convenient and simple way of obtaining money for Faulkland residents, and all credit rating is considered. The amount you’re entitled to borrow is normally determined by your vehicle’s value, and the amount you are able to repay, instead of your employment status or credit history. This means that Somerset residents, even if they’re self employed, or suffer from poor credit rating may still qualify for the loan; provided they can afford to repay it. You basically borrow the cash on an understanding that in case you do not pay the money back in the stipulated time, the lender can re-possess your vehicle.

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 Somerset 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 Somerset V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Faulkland residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

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

Faulkland 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!

Does my poor credit score affect my Faulkland loan application?

A poor credit score normally means refusal for any other type of Somerset loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

Do I qualify if I can’t prove my income?

To qualify for Faulkland V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Somerset.

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 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.

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.