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First-Rate Logbook Loans in Mile End

Enquire Online Today! - 25 Aug 2019

logbook loans Mile End

Logbook Loans Mile End


If you need quick cash then Mile End logbook loans are for you

Mile End logbook loan quotes

If you’re looking to borrow anything from £400 - £50,000 whilst still keeping mobile then this could be the loan for you. If your car is free of finance then from application to receiving your money can be as little as 24 hours!

Now amongst the most popular ways to secure a fast loans, Mile End Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. This could be the perfect solution if you have ever had a loan application refused in the past.

Any money lent can be used for whatever reason you like... the choice is yours, you could clear some other debts or go on a dream holiday. Logbook Loans give you the flexibility and freedom to decide yourself.

No-risk quotations: Find out how much you could be lending with an obligation-free logbook loan quote. It only takes a minute to apply.

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!

Keep mobile: There’s no need to stop driving for the loan period. Not only can you loan money, but you can continue driving your car throughout the loan!

Apply online: The form you can see above is all you ned to complete in order to apply for your free Mile End Logbook Loan quote.

Any purpose: No matter what reason for you wanting to take out a Logbook Loan, the money you lend is yours to spend however you like.

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.

Don’t think it’s difficult to apply for Mile End Logbook Loans either, take just 60secs of your time to tell us about you and your car with our convenient online quote application form, shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

With a free Mile End Logbook Loan quote available in no time at all, why not apply online today to see how much you could borrow?

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Mile End v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Mile End

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 Mile End 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 Mile End logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Tower Hamlets

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Tower Hamlets lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Mile End. You will still have to prove you can afford the repayments however.

Mile End business v5 loans

Logbook Loans and Businesses

A small Mile End business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

Release £400 - £50,000 From Your Vehicle

Below you can see a table of typical lending examples based on 80% of your car’s current value. The lending range can be anything from £400 up to £50,000 which should cover most borrowing requirements. Get in touch to see how much you could borrow:

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

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 Mile End applicants.

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 Tower Hamlets 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 should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Tower Hamlets residency, and some form of income validation that proves your ability to repay your obligation.

What makes Mile End Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Tower Hamlets applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Mile End v5 loans can be a great idea. Get in touch to find out more.

Can unemployed persons secure a Logbook Loan?

To be eligible for Mile End 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 Tower Hamlets loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Tower Hamlets, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Mile End loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

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 Mile End applicants who can afford to make the monthly repayments. Mile End 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.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

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 Tower Hamlets 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.

What periods of repayment are available?

In order to suit most repayment needs your loan can be repaid over 12,18 or even 36 months. As interest is charged monthly, there is no penalty for paying off your loan, so repaying your loan faster results in a reduction of the overall cost.

To find answers to any further queries you may have then simply get in touch today using the short form you can see above. You’ll be contacted by an advisor who can answer any questions you have to see if a V5 loan is for you.