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First-Class Logbook Loans in Westbourne Green

Enquire Online Today! - 02 Mar 2021

logbook loans Westbourne Green

Logbook Loans Westbourne Green


Get easy, convenient cash with Westbourne Green logbook loans

Westbourne Green logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? In less than 24 hours you could receive your loan amount providing your car is free from finance.

If you don’t want to be jumping through hoops and carrying out embarrassing credit checks then Westbourne Green Logbook Loans are a popular choice. If other loan types have refused your application recently, then this could be the answer to your money lending needs.

The funds you release for your car can be used on anything... 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.

Free quotes: No cost, risk or commitment is necessary with your free logbook loan quote. Discover how much you could borrow today!

Refused before? Been declined a loan before because of poor credit? Don’t worry this time as your application for a loan could still be accepted.

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.

Easy online application: Applying for your Westbourne Green Logbook Loan quote can be done quickly and easily online, and it only takes a minute!

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.

Personalise your loans: A Logbook Loan is a flexible loan that can be tailored to suit your own needs. Get in touch to discuss your lending requirements.

Thankfully it’s a simple process applying for Westbourne Green Logbook Loans, let us know a little about you and your car using our online application form (it only takes 60secs), you’ll then hear from a loan specialist with whom you can discuss your loan requirements.

Why not apply online today to find out just how much you could lend with Westbourne Green Logbook Loans.

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 Westbourne Green 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 Westbourne Green

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Westbourne Green and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Westbourne Green 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 Westminster

Self-Employed - Do I Qualify?

It has long been a problem for the Westbourne Green self-employed to qualify for any type of loan as most Westminster 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.

Westbourne Green business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Westbourne Green companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

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

Logbook Lending FAQs

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

How do Westminster V5 Logbook Loans work?

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

What should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Westminster residency, and some form of income validation that proves your ability to repay your obligation.

Are Westminster Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. Westminster applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Westbourne Green V5 Loans a great idea for many.

Can I qualify for Westminster car logbook loans if I am unemployed?

If you live in Westminster, are unemployed and are looking for a way to secure a personal loan, then you might be eligible to borrow against your car. As long as you own a car that’s registered in your name then you could qualify. However, it’s important to note that all Westbourne Green applicants have different situations, so it’s advisable to get in touch with the logbook lender. Also, as part of responsible lending, the loan applicant has to be able to prove that they can afford to make the loan repayments to avoid extra charges, late repayments and possible repossession of their vehicle.

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Westbourne Green loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, Westminster residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Westminster loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

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

In order to qualify for Westbourne Green logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Westminster 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.

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.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.