If youre looking for a loan that is simple, convenient and hasslefree then a logbook loan is the ideal solution. In exchange, the lender will keep the logbook of the borrower with them. Logbook loans for older cars and other vehicles such motorbikes, vans and commercial vehicles over 10 years old. Car logbook loans companies are specialist lenders who can lend to you regardless of your credit history, and its different from a traditional car finance, as you get to keep driving the car, and receive your loan as well. At the time, one of these was the ban from 2040 of sales of petrol and diesel cars. Typically the vehicle can be up to 10 years old, but that doesnt necessarily mean you will be denied for having an older car. With elogbook loan, you can get the money you need today. Are you looking for a logbook loan on an older car. The logbook loan lender is given ownership of your car until you fully pay back the loan, although the lender owns the vehicle, you can. V5 lenders provide free logbook loan quotations throughout the uk daily.
Logbook loans for older cars over 10 years old 100. Our guides help you to understand what a loan against your car is and how you can make sure you get a loan thats right for you. It is a common misconception that it is difficult to get logbook loans for older cars. For instance, some classic cars that are more than 25 years old may be more valuable than cars that are only a few years old. If a car with an existing logbook loan is sold on, then the lender is well within their rights to take the car from its new. If you are car owner you can get logbook loans upto 50,000 without any credit check or any guarantor, logbook loan is secured against your car so no need for credit check and no guarantor required. We will not simply turn you away before you even begin your application because your car is over a certain age. Best logbook loans for bad credit compare logbook loan lenders. They are also found through stores such as cash converters and online. Loans secured against cars vehicles use a document called a bill of sale.
You may enquire about for log book loans whether you have an older classic car model or a brand new one. If so you might well have been refused a loan elsewhere as many canvey island v5 lenders restrict the age of the car they will lend against. If you are refused because of bad credit history, no worry just. Logbook loans are loans secured against your vehicle. The important things to take into account are the mileage of your older car and its condition. Switch your logbook loan to car cash point and well reduce your overall loan repayments by up to 25%. Logbook loans for bad credit are available on the high street.
Logbook loans for uk residents direct lenders with. Feb 16, 2014 action needs to be taken to regulate companies that offer logbook loans, according to debt advisers, who say the industry is employing many of the practices that have given payday lenders a bad. Guess what, you can even get approved for logbook loans with older cars. Free from finance or nearing the end of the finance agreement. Compare logbook loans and lenders online here at lending expert. Typically, logbook loan providers ask that your car is. That isnt the case with our service however, as we base all our lending on the value of the car.
When the loan is repaid easy logbook loans will return your v5. Log book loans are secured against your car and available anywhere in the uk. So, apply now and take away all your worries from financial problems. Car logbook loans basically use your old car as security and the money you can borrow depends on your cars value.
With no credit checks and a simple online application process, this can make them an ideal way to get money fast even with a less than perfect credit history. You can get your free quote in minutes and once agreed, your money can be with you within 1 hour. Exceptions are common, but this is for cars that hold significant value of wed assume hitting above the. Affording to make your repayments, should be your main focus. Helping thousands of customers release cash from their cars.
Logbook loans, also known as a v5 loan can be a quick and convenient way to borrow money. For more information about our secured loans read the bill of sale information sheet. Chances are the car that you think of as old may actually be the key to your financial bliss. Logbook calculator offer loans on cars, vans and motorcycles from. An old car has a lot of wear and tear and therefore it has less worth than a newer car. As well as the dangers for borrowers, logbook loans can create a huge problem for unsuspecting car buyers. Some people find that getting approved for logbook loans with an older car can be tough. Getting instant cash is easy now with car log book loans for older car, no paper work no fax, no credit check, just visit with logbook and get your loan approved within 10 minutes. Logbook loans get the best logbook loan deal today. A resident in the uk who has a logbook registered under their name is eligible for a logbook loan. The first company offering logbook loans for cars older than 10 years old is hermes property services they have a central brand and a few others. But like other loans, you must meet the lenders criteria such as a vehicle that is free from any loan against it. Our experts choice of logbook lender below can quickly arrange a loan secured against your older vehicle or classic car. Auto advance offers easy logbook loans throughout the uk, with stores in london and the south east, and over 600 agents nationwide.
Whether you need the money for a month or a year, our flexible payment solution lets you choose. Logbook loans for older cars are available through mobile money ltd. When you are applying for a logbook loan, the age of your car vehicle is very important. Logbook loans for older cars are available through mobile money ltd the age of a vehicle is very important when providing logbook loans. Yes, logbook loans for older cars are eligible for finance, depending on the ontheroad value and current condition. Even with a bad credit, a logbook loan will not look for a guarantor. Other lenders may limit you to a maximum vehicle age of 8 years, however we consider all vehicles and vehicle ages for a loan. If you are refused because of bad credit history, no worry just apply for logbook loans and you will get loan same day. Logbook lenders are flouting the law, say debt advisers. Logbook loans are secured against your vehicle and are subject to affordability. In order for your loan application to be successful, you must live in either england or wales, you must be 18 years old or over and you must be able to afford the.
Logbook loans uk online same day payouts auto advance. Action needs to be taken to regulate companies that offer logbook loans, according to debt advisers, who say the industry is employing many of. We will always try our very best to get you the money you need, however it can sometimes be harder to secure logbook loans against cars that are over 10 years old. If you have bad credit it can be frustrating when you are declined for a loan from a mainstream lender you may also struggle to borrow from licensed lenders who specialise in loans for bad credit. Ideally, your car should be 10 years old at the most, but whatever the age of your vehicle, we will always try to help you as best we can. A logbook loan is a convenient way of borrowing money that uses your car or vehicle as security. Car logbook loans will require you to sign a document referred to as a bill of sale, which is a document that provides us security over your car and means.
If a car with an existing logbook loan is sold on, then the lender is well within their rights to take the car from its new owner. Logbook loans for older cars if you have a older car and need a logbook loan these lenders can help. Same day online logbook loans for older cars up to. Best logbook loans for bad credit compare logbook loan. Logbook loans online with no credit checks elogbook. Get instant quotes, fast payouts and great rates online. Logbook loans online with no credit checks elogbook loan uk. Older cars tend to have high mileage and more wear and tear than newer vehicles, thereby having a lower trade value. Logbook loans are a special kind of personal loans secured against a vehicle.
If you have an older vehicle and wish to use it as security against a logbook loan, apply online or give us a call and one of our team will be happy to help you. Fortunately, logbook loans for older cars are available from two known providers. Logbook loans uk get money within 1 hour logbook loans 247. The higher your cars value, the more money you can borrow against it. Yet, many loan providers will consider your older car, depending on a set criteria. Instant cash from online car logbook loans for older cars. As newer cars tend to have less wear and tear, their trade value if often higher therefore the value of loan that can be secured against them is frequently far higher. Along with money lenders that offer logbook loans, and with other shortterm loans. A logbook loan is a fast way of obtaining a loan secured against your vehicle car, van, motorbike or caravan. Make extra money and reduce carbon footprint with help from logbook loans in our recent article electric cars in the news again, we looked at factors behind the current increase in interest in electric cars.
The industry norm is for v5 lenders to require newer cars less than 10 years old. So you want a logbook loan but think that your car is too old to use as security. It is common to be turned away from many logbook loan companies if you are looking for logbook loans for cars older than 10 years. Logbook loans cash logbook loans secured against all. Using cars as security against loans can allow you to get better interest rates compared to some other forms of credit. One of the key advantages of this type of loan is that it is based on the value of your vehicle, and for this reason an older car could still qualify as long as it still holds some value to lend against. Logbook loans for older cars and other vehicles such motorbikes, vans and commercial vehicles over 10 years old can be arranged on the sameday with no credit checks. These loans are secured using a bill of sale on the v5 logbook of your vehicle and thus are a type of secured loan. Finding information about logbook loans isnt always easy, and taking out a loan is a big commitment. At elogbook loan every application is looked at individually and instead of just focusing on the age of the vehicle, we also look at its trade value, mileage and condition, as well as the affordability of the loan for. Motorbike logbook loans raise cash against your motorcycle.
You can get your free quote in minutes and once agreed, your money can. Even if you drive an older vehicle you could well be eligible to borrow against it. Logbook loans for uk residents direct lenders with financerr. The age of a vehicle is very important when providing logbook loans. Logbook loans cash logbook loans secured against all vehicles. If you need instant money, car logbook loans are a good option. Logbook loans in canvey island, essex enter reg for quote. Kept in good condition for the duration of the logbook loan. However at varooma we are happy to offer a loan to you if you have an older car. With the fast application process, rest assured that you will get the money for your emergency finances.
Your car should also match the lenders criteria when it comes to the model, year, and make. In order to qualify for a logbook loan your vehicle should ideally be less than 10 years old although it is possible to get logbook loans for older cars. In fact, most companies wont even look at an application once they know your car is over 8 years old. A logbook loan uses your vehicle as security and the vehicle s trade value must be high enough to cover at least 75% of the value of your loan. All credit scores are considered subject to eligibility and affordability, and the. Some of our customers have applied for logbook loans against classic vintage vehicles because, like antiques, some cars increase their value by age. Why not apply now to see whether your car will qualify the application will not affect your credit score. Late payment or nonpayment may result in additional fees such as court fees or andor the repossession of your vehicle. Logbook loans logbook money v5 loans log book loans.