Enter Your Reg Click Here!

Professional Logbook Loans in Erdington

Enquire Online Today! - 22 Mar 2019

logbook loans Erdington

Logbook Loans Erdington


Release cash from your car with Erdington logbook loans

Erdington logbook loan quotes

Need to borrow up to £50,000 whilst still driving your car? You can do this and receive money the same day!. Frequently the agreed loans can be completed in under a day if the car has no finance attached!

Erdington Logbook Loans are now one of the most popular loan types because you don’t need to jump through hoops and undergo credit checks. If you need a loan but have been refused elsewhere then this could provide you with the funds you require.

Any money lent can be used for whatever reason you like... you might want to pay off other debts or spend the money on something like a holiday. With Logbook Loans the chouce is yours and the money can be arranged quickly.

No commitment necessary: Why not get a free quote and see just how much money you could loan against your car’s value?

Accessible loans: Logbook Loan applications don’t require masses of hoops to jump through, so if you’ve been declined before you may well be in luck!

Use your car: Keep on the road throughout the loan period with a Logbook Loan. You can borrow money and keep the keys to your car!

One minute application: Applying for your no-obligation Erdington Logbook Loan quote can be done online and only takes a minute!

Any purpose: Whatever the reason for you wanting a loan, the money you receive is yours to do whatever you like with so the freedom is yours.

Flexible loan periods: Whatever your borrowing requirements are there’s a good chance that a Logbook Loan will be suitable. Get in touch today to find out!

It’s a simple process to apply for your Erdington Logbook Loan quote too, it takes less than a minute to apply online using our short application form, then you’ll be contacted by a Logbook Loan specialist to discuss your lending requirements further.

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

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Erdington lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Erdington

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Erdington and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Erdington logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in West Midlands

Self-Employed - Do I Qualify?

It has long been a problem for the Erdington 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.

Erdington business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Erdington 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.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

FAQs - Erdington V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Erdington 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 Erdington Logbook Loans work?

The way West Midlands loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout West Midlands and are increasing in popularity with those with bad credit.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, West Midlands residency, and income – and they’ll need it to get you approved.

Are West Midlands V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Erdington residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for West Midlands personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Erdington Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Erdington loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, West Midlands residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional West Midlands loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

Is it a problem if I can’t prove my income level?

In order to qualify for Erdington logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that West Midlands V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Do Logbook Loans show up on HPI checks?

Yes, a loan taken out against the vehicle should on a HPI check as a bill of sale agreement. A HPI check is a vehicle history check service which is provided by HPI company in the UK. A HPI check normally produces a report which provides information about the history of the vehicle, mainly if it’s written off, has outstanding finances, is clocked or stolen, among other things. In case a loan taken against the car doesn’t show up on the HPI Check, and you happen to buy the car, then you’re protected by the HPI guarantee. You will be offered a financial reimbursement of up to £30,000.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

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.