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Quick Logbook Loans in Sheffield Park

Enquire Online Today! - 22 Mar 2019

logbook loans Sheffield Park

Logbook Loans Sheffield Park


Got a car and need quick cash? Try Sheffield Park logbook loans

Sheffield Park logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

Sheffield Park 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. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

You can do anything you like with the borrowed funds... with complete flexibility with the finances you could pay off some debts, boost your cashflow or even treat yourself to a holiday, the choice is yours!

No risk quotes: With no commitment and no-obligation necessary why not get yourself a free quote to see how much you could loan?

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!

Continue to drive: If keeping mobile is important to you then a Logbook Loan lets you borrow the money and keep hold of your car keys!

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your Sheffield Park Logbook Loan quote.

Loans for any usage: You can use the money borrowed with a Logbook Loan for any purpose, you aren’t restricted in how you can spend the money.

Loans that suit you: If you need to lend money over a longer duration then speak to the specialist who can factor in your own specific needs.

Our website makes it super-simple to apply for free Sheffield Park Logbook Loan quotes too, you can see our short online application form on this page which takes less than a minute to fill-in, a short time after your free Logbook Loan quote will be delivered to you direct by a specialist lender.

Why not discover just how much you could borrow with a free Sheffield Park Logbook Loan quote today?

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Sheffield Park lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Sheffield Park

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 Sheffield Park 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 Sheffield Park logbook loans

No Credit Check Logbook Loans?

Not true unfortunately, however don’t let that put you off! Even though all applicants are credit checked you may find that these loans are more attainable as your car is used as security for the duration of the loan, which is why people can often be accepted when they have been denied more traditional loans. So if you’ve been denied a loan before due to a poor credit score then give a V5 loan a try and find out today.

loans for self employed in South Yorkshire

Self-Employed - Do I Qualify?

It has long been a problem for the Sheffield Park self-employed to qualify for any type of loan as most South Yorkshire lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Sheffield Park business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Sheffield Park company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

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

South Yorkshire 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 Sheffield Park 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 Park 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 Park residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

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 South Yorkshire 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 V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that South Yorkshire logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Sheffield Park. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

What about Sheffield Park V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach South Yorkshire logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

What about South Yorkshire residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your South Yorkshire loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Sheffield Park billing address, proof of identification, MOT certificate and proof of income.

Is it a problem if I can’t prove my income level?

In order to qualify for Sheffield Park logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that South Yorkshire V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

Will my HPI check show any Logbook Loans?

All loans such as Sheffield Park V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires South Yorkshire lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

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.

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.