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Fast Logbook Loans in Reigate

Enquire Online Today! - 25 Jun 2019

logbook loans Reigate

Logbook Loans Reigate


Need fast convenient cash? Reigate logbook loans are the answer

Reigate logbook loan quotes

If you need £400 to £50,000 and want to be able to carry on driving your car then this could be the perfect solution. You could receive the loan in less than a day providing your vehicle is finance-free.

As one of the fastest growing ways to secure a loan, Reigate Logbook Loans don’t require credit checks or hoops to jump through. If you’ve been refused a loan for whatever reason then this could well be your best way to obtain the funding you need.

The funds you release for your car can be used on anything... 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.

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

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.

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

Apply online in 60secs: It only takes a minute of your time to complete the simple form on this page with a few details.

Your money: The amount you borrow with a Logbook Loan is yours to spend however you may like, the choice is entirely yours.

Loans that suit you: All situations are different, so why not get in touch to discuss the very best lending option for your circumstances?

Applying to get a Reigate Logbook Loan is a simple process, just take a moment (less than a minute!) to tell us about yourself and your vehicle using our online form, we will then arrange for a loan provider to get in touch with you to chat about your money lending needs.

You could be receiving a free Reigate Logbook Loan quote in no time at all, so why not 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 Reigate 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 Reigate

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 Reigate 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 Reigate 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 Surrey

Self-Employed - Do I Qualify?

It has long been a problem for the Reigate self-employed to qualify for any type of loan as most Surrey 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.

Reigate business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Reigate 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.

Borrow From £400 to £50k - Examples

If you are eligible for a loan then you can release up to 80% of your car’s market value, which can be anything from £400 - £50,000 covering most lending requirements. We’ve created a list of lending examples so you can get an idea of loan amounts 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

Reigate Loan Calculator

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

7000
80%

£5600

Reigate V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Reigate logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Surrey residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Surrey residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

Why opt for Reigate 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 Surrey, 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 Reigate loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Surrey residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Reigate loan application, simply enquire online using the form on this page.

What about Surrey 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 Surrey loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Reigate billing address, proof of identification, MOT certificate and proof of income.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Surrey can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Reigate V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

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 Surrey 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.

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.

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.