Everybody encounters financial difficulties at one point in life, during which the need to borrow money arises. However, because it is purely business for banks and lending institutions, borrowing money involves very strict, not to mention stressful processes and requirements to comply, one of them the need to pass credit checks. If applying a loan everywhere else has become virtually impossible because you have bad credit, logbook loan is your ultimate solution.
With a logbook loan, you can withdraw the money in your vehicle instantly without waiting for days or passing credit checks. Whatever you need the money for, be it for an emergency, medical costs, a vacation you have been dreaming for long, or just to buy something that you really want but don’t have enough cash in hand, we can help you obtain the needed cash through logbook loans.
It doesn’t matter if you have bad or no credit rating at all. Even if you’re self-employed or have filed bankruptcy in the past, you are entitled for a loan. Just fill in our online form and we will get back to you with a FREE quote to help you get started.
What is a Logbook Loan?
Also referred to as the V5 loan, logbook loan makes use of your vehicle as collateral against the loan. With logbook loan, your vehicle’s V5 or logbook document will be submitted to the lender in exchange of the loan amount you wish to borrow, which transfers the ownership temporarily to the lender until you’ve paid the loan in full. Don’t worry though, as you can keep your vehicle while under the loan as long as your payments are updated.
Logbook loans have no credit checks and are designed mainly for people with poor or no credit who have been declined a loan elsewhere. If you are self-employed, have CCJ, or have even filed bankruptcy, your credit won’t be called in question and all you need is proof of income that you can meet the repayments.
The biggest fear of people about V5 loans is the possibility to lose their vehicles. While a lender can seize your car if you default, this is something that could easily be prevented. We are here to help you plan on how to make the repayments on time in a way that won’t stress you out with your other financial obligations.
- No credit checks- it doesn’t matter if you have bad credit or have filed bankruptcy
- Quick and easy- take your money home within the same day
- Keep driving your vehicle
- Choose among flexible repayment terms
- Use the money anyway you want
How Much Can I Borrow?
You can loan as little or as much as you need. However, the maximum you can borrow is typically up to 50% of your vehicle’s value. By filling up our form, you will be providing us with your car make, model, and other details that can help us assess how much you can borrow. Of course, we also need to see the vehicle in actual.
In addition, your monthly salary will be a determining factor in your borrowing capacity. Because no responsible lender will let you borrow without knowing if you can repay back the money, we need to see proof of your income such as pay stubs or bank statements, and other monthly obligations that you have to pay such as the mortgage. This is also to help you arrange a payment schedule that will be affordable for you until the very end and avoid the repossession of your vehicle.
If you need more advice regarding your borrowing limits, just give us a call at our hotline or fill up our form and we will get back to you immediately.
How it Works?
With the increasing popularity of logbook loans, you will find it a little bit stressful to choose between hundreds of logbook loan companies in the market. With years of expertise in the field, our service will make it that much easier for you to pick the best V5 loan lender without any hassles or additional costs for you to shoulder.
By filling up our quick online form, you will be providing us with your car details and contact information so that we can get back to you quickly. You will get a FREE quote and will be one step closer to finding the most appropriate lender for your needs. Rest assured that there’s no cost or obligation for using our service and we will start working only once when you’re ready.
If you’re busy, don’t worry. You can schedule an appointment at one of our meet-up places nearest you. Just bring your vehicle for us to see and if approved, you can drive away with your money within the same day!
Why Compare With Us?
We have helped thousands of bad credit borrowers obtain their much-needed cash quickly and hassle-free. We have been working with logbook loans for years and have built trusted relationships with the best logbook companies in UK, so we know exactly which lender you will need. In addition, these are some of the many benefits you will receive by comparing with us.
- No obligation, 100% FREE quote
- Find the top logbook loan companies in the UK
- Instant Approval
- Fast response
- Bad credit, no credit, self-employed welcome
- Choose between monthly or weekly repayments, whatever works for you
- No hidden costs and charges
- FSA authorized to conduct business in the UK
What are the Requirements?
- Your vehicle’s logbook or V5 document
- Your vehicle’s MOT certificate
- Your vehicle’s insurance details
- Proof of ID (passport, government issued ID’s, etc.)
- Proof of income (Pay stubs or bank statements for the self-employed)
- Proof of residence (utility bills)
There’s no other place you will find all of these benefits at the cheapest cost. Get your FREE quote today by filling up our 60-second form and you will hear from us within minutes!