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Expert Logbook Loans in South Yardley

Enquire Online Today! - 17 Jan 2019

logbook loans South Yardley

Logbook Loans South Yardley


Get easy, convenient cash with South Yardley logbook loans

South Yardley logbook loan quotes

If you need anything from £400 up to £50,000 then this could be the answer... and you even get to carry on driving your car. Assuming your car is currently finance-free your loan can often be arranged quickly and your money provided within 24 hours!

Rapidly becoming the most popular way to secure a loan, South Yardley Logbook Loans bypass the usual credit checks and hoops to jump through. 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... a Logbook Loan provides complete flexibility over you money, so you can spend it on anything you like from clearing debts to foreign holidays!

No risk quotes: All the quotes provided are completely risk-free as there is never any pressure to commit to a loan.

No-hassle loans: If a previous loan has been refused elsewhere then don’t worry, there’s a good chance you’ll qualify even with CCJs or arrears

Keep your keys: You can stay mobile by keeping on driving your car whilst benefitting from the amount borrowed.

Apply online in 60secs: Our super-simple, online South Yardley Logbook Loan quote application form will only take a minute to complete!

Your money to spend: Your loan is yours to spend however you like, so whatever your reason for wanting a loan you have complete control.

Personalise your loans: If you need a loan that can be tailored to your own individual circumstances then get in touch to discuss a Logbook Loan today!

This website makes the South Yardley Logbook Loan application process simple too, just use the online form on this page to tell us a little about yourself and your vehicle, a specialist will then be in touch direct to chat to you further regarding your lending requirements.

Your free no-obligation South Yardley Logbook Loan quote is just around the corner, so why not apply online today?

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other South Yardley logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in South Yardley

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in South Yardley then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check South Yardley logbook loans

No Credit Check Logbook Loans?

Sadly this isn’t actually the case, and is a misconception about V5 loans but it shouldn’t put you off from enquiring. Even though all applicants are actually credit checked, because you are using your vehicle as security you may find that a V5 loan is more attainable than other forms of loan making them particularly popular with those with poorer credit histories. So if you’ve been refused in the past you may find this type of loan is your best option.

loans for self employed in West Midlands

Self-Employed? You Could Still Borrow

Most West Midlands lenders want proof of regular income which makes it very difficult for the self-employed in South Yardley to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

South Yardley business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your South Yardley 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 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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

South Yardley V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your South Yardley logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

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 South Yardley 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 documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of West Midlands residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that West Midlands logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout South Yardley. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can unemployed persons secure a Logbook Loan?

To be eligible for South Yardley 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 South Yardley. 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.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to South Yardley applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. South Yardley v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending needs.

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.

Will a Logbook Loan show on a HPI check?

West Midlands lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you 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.

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.