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Convenient Logbook Loans in Midhurst

Enquire Online Today! - 10 Apr 2020

logbook loans Midhurst

Logbook Loans Midhurst


Get easy, convenient cash with Midhurst logbook loans

Midhurst logbook loan quotes

If you’re looking to get a loan that’s convenient where you can still drive your car then this could be the solution for you! You could even have the money in your hand in less than a day if there is currently no finance on your vehicle!

Rapidly becoming the most popular way to secure a loan, Midhurst Logbook Loans bypass the usual credit checks and hoops to jump through. Have any of your loan applications been declined in the past? Whatever the reason, this solution could provide you with the funds you need.

It doesn’t matter what you want to do with your money... whether you have some debts you’d like to clear, need a cash boost or would like a new holiday Logbook Loans can provide you with money almost instantly.

Risk-free quotes: Obligation-free quotes mean that applying online is completely risk-free, so it’s worth finding out what you could borrow!

Hassle-free application: If your credit history has let you down on previous loan applications then don’t worry, you may still be eligible for a loan.

Keep on driving: Drive your car as per normal throughout the loan period whilst still benefitting from the borrowed money.

Apply online in 60secs: It only takes a minute of your time to complete the simple form on this page with a few details.

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Flexible loan periods: Whatever your borrowing requirements are there’s a good chance that a Logbook Loan will be suitable. Get in touch today to find out!

It’s not difficult to apply for Midhurst Logbook Loan quotes either, just take a moment (less than a minute) to complete our short online form with a few details, you will then be contacted by a specialist to discuss your lending needs further.

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

logbook loans for older cars

Logbook Loans Cover Older Cars Too

Don’t worry if you own an older car... unlike some other Midhurst lenders your car may still be eligible to borrow against as the focus is on the current market value rather than the age. That means so long as your car has some resale value it could qualify for a loan against it. There’s a simple way to see if your vehicle is eligible to be borrowed against... simply enter your registration on the form above.

loans against classic, vintage and prestige cars in Midhurst

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 Midhurst 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 Midhurst logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in West Sussex

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Midhurst as most West Sussex lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Midhurst business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Midhurst company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

West Sussex Loan Calculator

Want to know how much you could borrow against your car in Midhurst? Use this handy calculator to show up to 80%.

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 Midhurst logbook loans.

How Logbook Loans work

If you own a car and live in West Sussex, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

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 Sussex residency, and income – and they’ll need it to get you approved.

Why might a Logbook Loan be a good idea?

If you live in Midhurst, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to West Sussex residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

Can unemployed persons secure a Logbook Loan?

To be eligible for Midhurst 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 Sussex loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in West Sussex, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Midhurst loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

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

Responsible lending entails only lending money to Midhurst 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. Midhurst 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.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all West Sussex lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

What are the repayment durations?

You can choose to repay your loan in either 12, 18 or 36 month instalments. What’s more there is no penalty for settling your loan early so you could save money on monthly interest payments by repaying your loan sooner.

Hopefully these should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.