Turn Your Vehicle Into Cash!
Everyone is well aware just how hard it is to take out a loan if you are self-employed, have poor or no credit at all, or if you have been bankrupt in the past. If urgent needs arise, repairing or building your credit is the least of your concern, and getting that much-needed cash tops your priority list. However, getting a loan becomes a burden if you can’t show a good credit standing. But oh well, not anymore, because we are here just to help you make cash quickly by withdrawing the money from your vehicle!
Don’t have time for credit checks? Worry no more! With a logbook loan, you can say goodbye to all those lengthy loan application processes. All you need is a working vehicle under your legal ownership, and you can leave the rest up to us. Whether you need some cash to pay for an emergency, to pay for a holiday, or just to buy something you want, we will assist you in getting your money quick and easy, no questions asked!
If you’ve been denied a loan elsewhere, we can help you find the perfect logbook loan lender to accommodate your needs. Now that you are here, you are only one step away from turning your car into cash. By taking the time to fill up our online form, you will be given a FREE quote and will be contacted within minutes regarding your application.
Logbook Loan Explained
Logbook loan is a type of secured loan which allows you to withdraw the money from your vehicle by submitting your vehicle’s logbook as collateral against the loan. This means that the vehicle’s ownership is transferred temporarily to your lender until you have paid the loan in full, in which case you can retrieve the logbook. However, you can keep the car even while it is under the loan, as long as you keep your payments up-to-date.
Primarily, logbook loans are designed for those who have insufficient credit histories or poor credit scores, letting them take out a loan which would rather be refused somewhere else. Logbook loans are perfect for those who have bad debt, those who have filed bankruptcy or have CCJ’s against them, or even just about anyone who’s looking to skip the long processes involved with loan applications because of the urgent need for cash.
Aside from being available to people with bad credit, the logbook loan’s popularity is also attributed to its easy accessibility. Logbook loans can usually be secured within the same day of application, which is perfect if you need to pay for something soon.
How it Works?
Logbook loans do not involve credit checks, which is why people with bad credit ratings can easily be approved. Even if you have a CCJ or have filed bankruptcy, you are eligible for a logbook loan as long as you are at least 18 years old, are living in England or Wales, and the legal owner of the vehicle that you are driving. Your vehicle should also be insured and free from any outstanding finance. If you get approved, you can usually take your money home within the same day, and best of all, you can keep driving your vehicle, as long as you are able to meet the repayments.
However, even if there are no credit checks, there are measures observed to avoid the ugly event of having your vehicle seized. You need to be able to prove that your monthly income would be sufficient in making the repayments. In addition, this information would be used to determine the amount you can borrow and the duration of your loan period.
Of course, we also need to see your vehicle. You can choose among one of our meet-up places at your own convenience, and if all gets well, you can drive away with your money within an hour!
How Much Can I Borrow?
Our lenders can let you borrow between £500 and £50000, however, the amount should be determined by your vehicle’s value. Typically, you can borrow up to 50% of the car’s value. However, it is also important to note that your monthly salary may be a factor in determining your loan amount, to make sure that you can afford to pay back the loan on time. You can choose between weekly or monthly repayments, depending on your preference.
Driving a car, a van, or a motorcycle? Let us know your vehicle’s make by filling up our online form and get your FREE quote today!
What are the Requirements?
In order to ensure a hassle-free loan application, make sure you have the following ready:
- Your vehicle’s logbook or V5 document
- Your vehicle’s MOT certificate
- Your vehicle’s insurance details
- Proof of identification with photo (passport, government issued ID’s, etc.)
- Proof of income (Pay stubs or bank statements for the self-employed)
- Recent bills containing your permanent address
Benefits of Securing a Logbook Loan With TopLogbookLoan
- Find the best logbook loan lenders across UK
- Take your money within the same day of successful application
- Know the status of your application within minutes
- No obligation, FREE quote from us
- Choose among a variety of repayment options
- Choose your own loan duration
- No credit checks- it doesn’t matter if you have a CCJ or have been refused a loan everywhere or have been bankrupt
- Self-employed people are welcome
- You can keep driving your car
- We are authorized to conduct business in the UK, so you are sure to only be dealing with a reputable logbook loan company
- We are only affiliated with lenders who abide by the CCTA code of practice, so you are sure that your every right as a borrower is protected
Start Your FREE Inquiry Today!
Getting a logbook loan is easy. You can submit your contact information and vehicle details by filling up our online form, and you will hear from us within minutes if your application was approved!