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Fast Logbook Loans in Yardley

Enquire Online Today! - 17 Jan 2019

logbook loans Yardley

Logbook Loans Yardley


Yardley logbook loans can unlock the value in your car

Yardley logbook loan quotes

By lending against your vehicle you could unlock anything from £400 to £50,000 whilst still driving your car. The money can be yours in as little as 24 hours if your car is free from finance!

Yardley Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. Been declined a loan elsewhere? You could be eligible to borrow the funds you’ve been looking for.

The money you borrow is yours to spend on anything your 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.

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

Hassle-free: If you’re worried about your credit history affecting your loan application then a Logbook Loan could be the loan for you!

Continue to drive: A Logbook Loan lets you borrow money whilst keeping the car keys, so you can continue to drive for the loan period.

60 secs online application: The easy form you can see on this page is all you need to complete to get a free Yardley Logbook Loan quote!

Your money to spend: Whatever the reason for your loan application, any money borrowed can be spent as you wish, from bills to holidays and cashflow.

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.

Applying for Yardley Logbook Loans is a simple straightforward process, in fact all you need to do is complete the short application form on this page with some basic information, shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

With free no-obligation quotes, why not see how much you could lend with Yardley 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 Yardley 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 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 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 Yardley logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in West Midlands

Self-Employed - Do I Qualify?

It has long been a problem for the Yardley 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.

Yardley business v5 loans

Logbook Loans and Businesses

A small Yardley business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

Release £400 - £50,000 From Your Vehicle

Below you can see a table of typical lending examples based on 80% of your car’s current value. The lending range can be anything from £400 up to £50,000 which should cover most borrowing requirements. Get in touch to see how much you could borrow:

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

Yardley Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in West Midlands.

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding Yardley logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

How do West Midlands V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Yardley borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Yardley residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your West Midlands residency, along with payslips or bank statements that show your income.

Why are Logbook Loans a good idea?

They are often a good type of loan for Yardley borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, West Midlands V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can unemployed Yardley residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. West Midlands V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

Does poor credit history affect West Midlands applicants?

Actually a V5 loan is one of the more tolerant loans when it comes to bad credit, and West Midlands residents are finding them very popular. As your car is used as security it makes the loan lower risk to the lender so they are more likely to agree to the loan. You will still have your credit checked, but the outcome is normally more positive than if you had tried for a loan elsewhere.

I have no income proof, is that a problem?

In order to qualify for your Yardley car logbook loan, you need to prove you will be able to make the loan repayments as stipulated. Being self employed or unemployed might not stop you from getting approved, as long as the loan lender can see that you’ve the ability to cover your logbook loan payments. However, you should fill in the above form to hear from an advisor about the available loan options for you.

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.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for West Midlands lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with 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.

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.