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Expert Logbook Loans in Elsted

Enquire Online Today! - 10 Apr 2020

logbook loans Elsted

Logbook Loans Elsted


If you need quick cash then Elsted logbook loans are for you

Elsted logbook loan quotes

Did you know you could borrow money against your car whilst still driving it? You borrow anything from £400 to £50,000 on the same day! Your money can even be delivered in less than a day if your vehicle has no finance attached.

Elsted Logbook Loans are one of the fastest growing loan types for those not wanting to jump through hoops and undergo credit checks. Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

Furthermore you can spend the money you borrow on anything you like... some people choose to clear debts, others book a holiday with their loan. With Logbook Loans you can get access to the funds quickly and easily.

Risk-free quotes: Get a free no-obligation quote to see just how much you could release from the value of your car without having to commit.

Poor credit rating? There isn’t the need to have a perfect credit history when taking out a V5 loan, which makes it accessible to more people.

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

Apply in seconds: Take just a minute to complete our online form to apply for your Elsted Logbook Loan quote.

Your money: The loan is yours, so you can spend the money borrowed however you wish. You have total control over the money at your disposal.

Loans to suit you: Not all loans ’out the box’ suit everyone, so have a chat with an advisor to see how a Logbook Loan can work for your own situation.

Luckily our site makes it easy to apply for Elsted Logbook Loans, we just need some basic information about you and your vehicle which can be sent via our online form (in less than 60secs!), a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Apply online today to see just how much money you can release with Elsted 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 Elsted 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 Elsted

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Elsted and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Elsted 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 Sussex

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most West Sussex lenders want a guaranteed income. If you apply for Elsted car V5 loans however, the lender takes into consideration your vehicle being used as security for the payments so you may be eligible to borrow. In order to comply with responsible lending, you are still required to prove you can cover the monthly payments.

Elsted business v5 loans

Business Logbook Loans?

If you are interested in obtaining a logbook loan for your Elsted 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

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

V5 Car Loan FAQs

There are a number of questions we receive regarding Elsted logbook loans,so for your convenience we have compiled a list of answers to the more frequently asked questions we receive on a daily basis.

How do West Sussex V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Elsted 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 Elsted residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your West Sussex address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

What makes a V5 Logbook Loan a good idea?

If you are struggling to get approved for a loan in West Sussex because you have bad credit, you should consider applying for a V5 document loan. With these type of loans, all credit is considered. Whether you’ve bad credit score due to missed payments or such other defaults, it might not matter; so long as you live in West Sussex, own a car or have very little finance you simply need to avail the logbook, and you can obtain a loan quickly.

Can I still get a V5 Loan even if i’m unemployed?

Yes, West Sussex residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Elsted loan application, simply enquire online using the form on this page.

What about West Sussex residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your West Sussex loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Elsted billing address, proof of identification, MOT certificate and proof of income.

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

In order to qualify for Elsted logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that West Sussex 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.

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.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all West Sussex lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.