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Easy Logbook Loans in Balsall Heath

Enquire Online Today! - 17 Jan 2019

logbook loans Balsall Heath

Logbook Loans Balsall Heath


If you need quick cash then Balsall Heath logbook loans are for you

Balsall Heath logbook loan quotes

Did you know you could borrow money against your car whilst still driving it? You borrow anything from £400 to £50,000 on the same day! Often, you can receive your loan amount in under 24 hours providing your vehicle has no finance attached!

Now amongst the most popular ways to secure a fast loans, Balsall Heath Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. Have any of your previous loan applications been refused? If so this could be the loan for you.

The borrowed money can also be used for whatever 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 quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

Accessible lending: There is no need to have perfect credit with V5 loans, making them one of the most accessible forms of loans available.

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

60secs to apply: That’s right! It takes just a minute to complete our online Balsall Heath Logbook Loan quote application form.

Your money to use: It’s your loan, so your money to spend however you like. There are no restrictions on how you can spend your Logbook Loan.

Flexible loan durations: Your new loan needs to suit your lifestyle and budget, so get in touch to discuss the best possible options to suit your requirements.

It’s a simple process to apply for your Balsall Heath Logbook Loan quote too, you can see our short online application form on this page which takes less than a minute to fill-in, an expert loan provider will then be in touch direct to provide more information and a free Logbook Loan quote.

See how much you could borrow against the value of your car with a free quote for Balsall Heath Logbook Loans.

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Balsall Heath V5 lenders. Many other West Midlands companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Balsall Heath

Borrowing Against a Classic or Prestigious Vehicle

Balsall Heath owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Balsall Heath 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 West Midlands

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Balsall Heath to get a loan as most lenders want to see a more secure income. West Midlands Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Balsall Heath business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Balsall Heath business, you may be able to do so in one of two ways. First, you can enquire about a loan on a vehicle that is registered in your name; this is much the same as obtaining a personal logbook loan. Second, you can also use a company vehicle that is registered in the business’s name if the business name and your name match. You should always check with individual lenders for their policies.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at 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

Calculate Your Loan

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding Balsall Heath logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

How do West Midlands Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among Balsall Heath residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of West Midlands residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Are Balsall Heath Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to West Midlands residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can unemployed persons secure a Logbook Loan?

To be eligible for Balsall Heath 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 West Midlands loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does my poor credit score affect my Balsall Heath loan application?

A poor credit score normally means refusal for any other type of West Midlands loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

What happens if I can’t prove my current income?

West Midlands V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Balsall Heath applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

Will my HPI check show any Logbook Loans?

All loans such as Balsall Heath V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires West Midlands 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.

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.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.