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Expert Logbook Loans in Cullingworth

Enquire Online Today! - 25 Jun 2019

logbook loans Cullingworth

Logbook Loans Cullingworth


Release cash from your car with Cullingworth logbook loans

Cullingworth logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. You could receive the loan in less than a day providing your vehicle is finance-free.

You don’t have to jump through hoops or undergo a lot of checks with Cullingworth Logbook Loans either, which is why they’re so popular! If any of your previous loan applications have been refused, then this could well be the ideal solution.

The funds you borrow can go towards anything you like too... the choice is yours, you could clear some other debts or go on a dream holiday. With a V5 loan you get the flexibility and freedom to decide yourself.

Risk-free quotes: There’s no risk or commitment necessary when applying for a free quote. Why not find out how much you could lend?

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.

Simple online application: It’s easy to apply online for your Cullingworth Logbook Loan quote, just take a minute to complete our quick form.

Loans for any purpose: Your new loan amount is yours to spend however you like, whether it’s to pay off some other bills or to go on holiday!

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.

Using our website to apply for Cullingworth Logbook Loans couldn’t be more simple too, just take a moment (less than a minute!) to tell us about yourself and your vehicle using our online form, you will then be contacted direct by a loan specialist to discuss your requirements further.

Get an obligation-free quote for Cullingworth Logbook Loans by applying online today. See how much you could lend!

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Cullingworth v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Cullingworth

Borrowing Against a Classic or Prestigious Vehicle

Cullingworth 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 Cullingworth logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in West Yorkshire

Self-Employed? You Could Still Borrow

Most West Yorkshire lenders want proof of regular income which makes it very difficult for the self-employed in Cullingworth 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!

Cullingworth business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Cullingworth businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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 Percentage Calculator

It’s simple to use our online loan calculator... just use the sliders below to set your car value and loan percentage.

7000
80%

£5600

Your Questions Answered

Though applying for your Cullingworth logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

How Logbook Loans work

If you own a car and live in West Yorkshire, 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 Yorkshire residency, and income – and they’ll need it to get you approved.

What makes a V5 Logbook Loan a good idea?

If you are struggling to get approved for a loan in West Yorkshire 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 Yorkshire, own a car or have very little finance you simply need to avail the logbook, and you can obtain a loan quickly.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for West Yorkshire personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Cullingworth Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

Does my poor credit score affect my Cullingworth loan application?

A poor credit score normally means refusal for any other type of West Yorkshire loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

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

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

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Will my HPI check show any Logbook Loans?

All loans such as Cullingworth V5 loans should show up on a HPI search as a Bill of Sale Agreement. A ruling was introduced that requires West Yorkshire lenders to register every loan with companies such as HPI. If for any reason you find there to be a loan against your vehicle which did not show up on a HPI search, then you will be entitled to up to £30,000 according to the HPI guarantee.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

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.