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First-Class Logbook Loans in Maida Vale

Enquire Online Today! - 08 Dec 2021

logbook loans Maida Vale

Logbook Loans Maida Vale


Lend cash from your car with Maida Vale logbook loans

Maida Vale logbook loan quotes

If you want to borrow money whilst remaining mobile then read on... you can lend up to £50,000 whilst still driving your car! You can even receive your money in as little as 24 hours if your car is free from any finance.

Other loans might slow you down with credit checks and hoops to jump through but not Maida Vale Logbook Loans, which is why they’re so popular. They can often be the ideal solution for those who have had loan applications declined before.

Furthermore any money borrowed can be spent however you like, on whatever you like... clear some debts, go on holiday, boost your cashflow, whatever you decide to do the choice is yours.

No-obligation quotes: There’s no commitment necessary, so why not get a free quote to see how much you could borrow with a Logbook Loan?

Refused loans before? Have you been refused a loan elsewhere due to a bad credit history? No need to worry with a Logbook Loan.

Keep on driving: Need to lend some money and stay mobile? No problem with a Logbook Loan... borrow the money and keep your car keys!

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your Maida Vale Logbook Loan quote.

Any reason loans: You don’t have to justify your reason for wanting a loan, you can spend the money you borrow on anything you like.

Flexible loans: Your borrowing needs are likely to differ from that of others, so apply online and speak to someone direct about your own individual needs.

Applying to get a Maida Vale Logbook Loan is a simple process, in fact all you need to do is complete the short application form on this page with some basic information, you will then be contacted by a specialist to discuss your lending needs further.

Apply online today to see just how much money you can release with Maida Vale Logbook Loans!

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Maida Vale lenders only let you borrow against cars under 8 years old, the Westminster lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Maida Vale

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Maida Vale and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Maida Vale logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not find out today!

loans for self employed in Westminster

Self-Employment - Refused Elsewhere?

Being refused a loan is a common occurrence if you work for yourself, most Westminster lenders need to see a more stable income to feel comfortable enough to lend. When lending against your car you use your vehicle as security for the repayments, thus reducing any risk associated with the lender. For this reason you may find that you are eligible for a loan even if you are self-employed in Maida Vale. You will still have to prove you can afford the repayments however.

Maida Vale business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your Maida Vale business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

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

Maida Vale Loan Calculator

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

7000
80%

£5600

Logbook Lending FAQs

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

How do Maida Vale Logbook Loans work?

The way Westminster loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Westminster and are increasing in popularity with those with bad credit.

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 Westminster residency, along with payslips or bank statements that show your income.

What makes Maida Vale Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Westminster applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Maida Vale v5 loans can be a great idea. Get in touch to find out more.

What about Maida Vale V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach Westminster logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

Does my poor credit score affect my Maida Vale loan application?

A poor credit score normally means refusal for any other type of Westminster 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!

I have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Maida Vale v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

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 Westminster 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 are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

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.