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Quick Logbook Loans in Sheffield

Enquire Online Today! - 15 Dec 2018

logbook loans Sheffield

Logbook Loans Sheffield


Sheffield logbook loans can unlock the value in your car

Sheffield logbook loan quotes

Keep driving and borrow the money you need, you can lend anything from £400-£50,000 against your car whilst staying mobile. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

Sheffield Logbook Loans are now one of the most popular ways to secure a fast, hassle-free loan minus all the checks and obstacles that other loans require. If any of your previous loan applications have been unsuccessful then this might be the best solution.

The money you borrow can be used towards anything you like too... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the chouce is yours and the money can be arranged quickly.

No obligation necessary: There isn’t ever any pressure to take out a loan, so get yourself an obligation-free logbook loan quote today!

Poor credit? Your credit history and CCJs/arrears aren’t necessarily a problem either when you apply for a V5 loan.

Keep driving your car: A V5 Logbook Loan not only lends you the money, but lets you keep hold of the keys so you can carry on driving!

Easy online application: Applying for your Sheffield Logbook Loan quote can be done quickly and easily online, and it only takes a minute!

Your money to spend: You can spend the money you borrow on absolutely anything you like. It’s yours to do whatever you want with!

Personalise your loans: A Logbook Loan is a flexible loan that can be tailored to suit your own needs. Get in touch to discuss your lending requirements.

It’s really easy to apply for Sheffield Logbook Loans too, just provide us with some basic details regarding you and your car by completing the short application form on this page, a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

With completely free Sheffield Logbook Loan quotes available, why not find out just how much you could be lending?

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Sheffield lenders will limit the age of an eligible car to 8 years, but the lenders on our South Yorkshire network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Sheffield

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Sheffield 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 Sheffield logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional loan.

loans for self employed in South Yorkshire

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Sheffield as most South Yorkshire 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.

Sheffield business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Sheffield business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

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

Sheffield Loan Calculator

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

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 Sheffield applicants.

How do South Yorkshire V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Sheffield borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Sheffield residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your South Yorkshire residency, along with payslips or bank statements that show your income.

Why are Logbook Loans in Sheffield a good idea?

This kind of loan is ideal for South Yorkshire 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 Sheffield 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!.

Can unemployed persons secure a Logbook Loan?

To be eligible for Sheffield loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your South Yorkshire loan, without delays. It’s part of a responsible lending culture amongst lenders.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Sheffield borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. South Yorkshire 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 South Yorkshire 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.

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

To qualify for Sheffield 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 South Yorkshire.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as South Yorkshire lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

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.