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Quality Logbook Loans in Birmingham

Enquire Online Today! - 15 Dec 2018

logbook loans Birmingham

Logbook Loans Birmingham


Birmingham logbook loans can unlock the value in your car

Birmingham logbook loan quotes

If you still need to drive your car, but need access to same day money then you could borrow up to £50,000.. If your car has no finance attached and you meet our criteria you could get your money the same day!

Rapidly becoming the most popular way to secure a loan, Birmingham Logbook Loans bypass the usual credit checks and hoops to jump through. Have any of your previous loan applications been refused? If so this could be the loan for you.

Furthermore any money borrowed can be spent however you like, on whatever you like... a Logbook Loan gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

No risk quotes: Your free logbook loan quote is totally obligation-free and therefore risk-free, so apply online today to see how much you could loan!

Accessible loans: You won’t have to worry about a poor credit history too with a Logbook Loan as your application could well be approved.

Carry on driving: Borrow the agreed amount and also keep your car keys to stay mobile throughout the loan period!

60secs to apply: That’s right! It only takes a minute to apply for your free Birmingham Logbook Loan quote via our online form.

Your money to use: It’s your loan so you can spend the money as you see fit. Logbook Loans give you complete control over the money loaned.

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.

This website makes the Birmingham Logbook Loan application process simple too, the quote application form on this page won’t take more than a minute to complete with some basic details, you can then discuss your lending requirements further as a loan specialist will be in touch direct.

Find out just how much you could borrow today with a free Birmingham Logbook Loan quote.

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 Birmingham 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 Birmingham

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Birmingham and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Birmingham 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 West Midlands

Self-Employed - Do I Qualify?

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

Birmingham business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Birmingham business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

Borrow From £400 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

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 Birmingham applicants.

How do West Midlands Logbook Loans work exactly?

The principal of borrowing against your car (or a V5 loan) in West Midlands is very straightforward... you use the V5 document of your car as security for a loan against it. Typically you can borrow up to 80% of the car’s value and have a range or repayment durations available. An added bonus of this type of loan is that Birmingham applicants can continue to drive their vehicles throughout the loan period, an once the loan is repaid in full the V5 document is returned. V5 loans are particularly popular with those who have less than favourable credit scores.

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.

What makes Birmingham 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 West Midlands 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 Birmingham v5 loans can be a great idea. Get in touch to find out more.

I’m currently unemployed, can I get a Logbook Loan?

One of the key requirements to taking out West Midlands loans against your vehicle logbook is that you can prove to the provider that you can afford to make the monthly repayments. This is part of a responsible lending approach that helps ensure you do not default on your payments and risk your vehicle not being returned. Therefore if you are in Birmingham and unemployed you still need to be able to prove that you can afford the repayments to qualify for the loan.

What about West Midlands 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 West Midlands loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Birmingham 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 West Midlands 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 Birmingham 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.

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 Logbook Loans show on a HPI check?

Yes. It is a requirement for all West Midlands 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 can be arranged with three different repayment durations... 12, 18 or 36 months. Your interest is charged monthly, and there are no penalties for settling the loan early which means you can save money on the total amount payable.

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.