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First-Class Logbook Loans in Halesowen

Enquire Online Today! - 22 May 2019

logbook loans Halesowen

Logbook Loans Halesowen


Get easy, convenient cash with Halesowen logbook loans

Halesowen logbook loan quotes

Did you know that lending anything from £400 up to £50,000 and keeping on driving your vehicle is possible? If your car is free of all finance arrangements then it’s possible to get your loan agreed and delivered in under 24 hours!

Other loans might slow you down with credit checks and hoops to jump through but not Halesowen Logbook Loans, which is why they’re so popular. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

Any money released from your vehicle can be used for anything you like... why not clear some outstanding debts, spend the money on a new holiday or anything else you like. Logbook Loans give you complete flexibility.

No obligation necessary: You don’t have to commit to a loan, so why not apply online to see how much you could be borrowing with a Logbook Loan?

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

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

One minute application: Applying for your Halesowen Logbook Loan quote is simple, quick and can be done via our online 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.

Loan periods to suit you: Your loan can be tailored to suit your needs. Just chat to the specialist to see what options are available to you.

It’s really easy to apply for Halesowen Logbook Loans too, our online quote application form only takes 60secs to complete and that’s all you need to do, shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

Why not apply online today to find out just how much you could lend with Halesowen Logbook Loans.

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Halesowen logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Halesowen

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Halesowen classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Halesowen logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in West Midlands

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most West Midlands 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 Halesowen. You will still have to prove you can afford the repayments however.

Halesowen business v5 loans

V5 Business Loans?

Whether you are the owner of your own small Halesowen business or you’re a sole proprietor, there are some instances in which you may be able to get a logbook loan on your company car. This is true if your car is registered in your name, or if your name is part of the company name. The best way to find out if you qualify is to enquire through a lender network, where you can be put in contact with a variety of lenders that may suit your needs.

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

FAQs - Halesowen V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Halesowen logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Halesowen residents can borrow depends on just how much their car is worth; some West Midlands lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

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, Halesowen 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 the unemployed secure a Logbook Loan?

Halesowen individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in West Midlands might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Halesowen V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in West Midlands and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

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 Halesowen 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.

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.

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 West Midlands 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.

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.

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.