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Easy Logbook Loans in Nechells

Enquire Online Today! - 07 Dec 2019

logbook loans Nechells

Logbook Loans Nechells


Need fast convenient cash? Nechells logbook loans are the answer

Nechells logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? You can even receive your money in under 24 hours if your car is free of finance and you meet the criteria.

If you don’t want to jump through hoops and have your credit score checked then Nechells Logbook Loans are the obvious choice, and have become very popular. They can often be the ideal solution for those who have had loan applications declined before.

What’s more the money you release can be used for anything you like... a Logbook Loan provides complete flexibility and the freedom to spend the money on anything from paying off other loans to going on holiday.

Free no-risk quotes: Why not discover just how much you could borrow against the value of your car with a completely obligation-free quote!

Refused loans? If you’re frustrated at other loans declining your applications then you might be in luck with a Logbook Loan as they are very accessible!

Continue to drive: Continue driving the vehicle you are borrowing against for the whole loan period. Benefit from both the money and the keys!

60secs online application: You can apply for a quote for Nechells Logbook Loans in just a minute with our online application form!

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

It’s super easy to get free Nechells Logbook Loan quotes too, the simple application form you can see on this page is all you need to fill-in with some basic details, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

Get a free quote for Nechells Logbook Loans by applying online now! Discover how much you could borrow today!

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Nechells lenders might limit the borrowing to cars under 8 years of age, the lenders on our West Midlands network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Nechells

Borrowing Against a Classic or Prestigious Vehicle

Nechells 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 Nechells 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 Nechells. You will still have to prove you can afford the repayments however.

Nechells business v5 loans

Business Logbook Loans?

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

Borrow Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look 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

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning Nechells logbook loans.

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 West Midlands 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 ID and documents do I need?

Providing logbook lenders with proof of West Midlands residency, income, car ownership, and identity is vital when you enquire for a loan. It only takes a few minutes, and you can do all of this with a handful of documents. Your photo ID, logbook (or V5 document), current MOT, proof of insurance, a utility bill, and a bank statement or copies of payslips will suffice. Bear in mind that some lenders may ask for additional information for verification purposes, too.

What makes Nechells 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 Nechells 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 Nechells 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.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Nechells. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout West Midlands.

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 Nechells applicants who can afford to make the monthly repayments. Nechells 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.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

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 are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Should you have any further queries you can hear direct from an advisor by simply filling-in the form above. An advisor will be in touch direct to chat further about our lending requirements and whether a V5 loan is suitable for your needs.