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First-Class Logbook Loans in Stannington

Enquire Online Today! - 24 Aug 2019

logbook loans Stannington

Logbook Loans Stannington


Stannington logbook loans can unlock the value in your car

Stannington logbook loan quotes

Did you know that you can access anything from £400 to £50,000 from the value of your car whilst still driving it? They’re quick loans too... in fact providing your car is finance-free your money can be arranged in not time at all.

With Stannington Logbook Loans you aren’t required to undergo credit checks or jump through hoops like other loans making them incredibly popular. If other loan types have refused your application recently, then this could be the answer to your money lending needs.

The money you lend can be used for any purpose you like... some people choose to clear debts, others book a holiday with their loan. With Logbook Loans you can get access to the funds quickly and easily.

Free no-risk quotes: Want to see how much you could borrow but don’t want to commit just yet? No problem, all the quotes provided are obligation-free.

No-hassle application: You don’t even have to jump through hoops in order to qualify for a loan. CCJs/Arrears can also be accepted!

Continue driving: Keep driving your car for the entire loan period whilst still enjoying the money you borrow with a Logbook Loan.

60sec application: Apply online for your free Stannington Logbook Loan quote in just a minute with our online application form.

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

Loans that suit you: Get in touch with a specialist that can arrange your loan to suit your requirements. All lending requirements differ from person to person.

It’s not difficult to apply for Stannington Logbook Loan quotes either, simply complete our online form with a few basic details which will only take 60 seconds, shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

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

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 Stannington 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 Stannington

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in Stannington and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check Stannington logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not find out today!

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 Stannington 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.

Stannington business v5 loans

What About Companies?

Stannington 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.

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

Calculate Your Loan Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

FAQs - Stannington V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Stannington logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How do they work?

Quite simply the way Stannington Logbook Loans work is that you use your car as security in order to receive a loan against the value of it. In order to receive the loan you need to own the car yourself (or have very little finance on it) then hand over the V5 document in exchange for an agreed amount of up to 80% of the car’s value. You can carry on driving your car throughout the loan period, and once repaid your V5 document is returned to you. They are particularly popular in South Yorkshire as they can often be available to residents with poor credit scores.

What documents should I supply to proceed?

Loan enquiries are not complicated, and most can be completed in just a few minutes. After providing some basic information about yourself, you should be prepared to provide copies of your photo ID, V5 documents, current MOT, most recent utility bill (must be in your name), proof of car insurance, and proof of income, which may be a copy of your bank statement or several payslips.

Why might a Logbook Loan be a good idea?

If you live in Stannington, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to South Yorkshire residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

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

Stannington 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 South Yorkshire lenders won’t grant loans to those who cannot afford the repayments. To find out more simply get in touch today!

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 Stannington billing address, proof of identification, MOT certificate and proof of income.

Does it matter if I can’t prove my income?

You need to be able to prove to your logbook lender that you can afford the monthly payments. Part of being a responsible lender is that they will only lend money to Stannington applicants who can afford to make the monthly repayments. Stannington v5 loans are only offered if the lender can be sure that the repayments are affordable, which helps avoid accounts going into arrears and the possibility of car repossession. Get in touch today to see what your options are if you’re finding it hard to prove your income level.

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.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

How long do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.