V5 logbook lending
Unlock the value in your car with a simple form
Did you know you could be driving your car and taking home anything between £400 to £50,000 today with a Logbook Loan? If your car is free of finance you could receive your money in no time at all!
Logbook loans are the fastest growing way to secure a loan without the usual hassles and hoops to jump through that other loans present. If you have ever had a loan application declined, Scotland logbook loans could be the perfect solution.
It doesn't even matter what you want to use the money for... whether it's to clear some debts, give yourself a cashflow injection or a holiday Logbook Loans Scotland can give you access to the funds almost instantly.
Applying at Logbook Loans Scotland couldn't be easier, in fact all you have to do is complete our simple form which takes less than a minute, then you will be contacted by one of our lending partners to discuss your loan requirements further. With a no-obligation quote just around the corner, why not find out how much you could be lending!
Simply click here for Logbook Loans Scotland or please feel free to browse the rest of the website for further information as to how a logbook loan could help you, and the processes involved in getting your money.
As we connect you to specialist providers of V5 document loans, we're confident you can find the answer to your money lending needs within minutes of applying. People throughout the UK just like you use our free service every day to discover the best logbook lending options available to them.
More people throughout the UK than ever before are restricted by bad credit ratings, CCJs and arrears, which is why Logbook Loans Scotland might offer the perfect solution for people looking for a loan. Here are some benefits:
CCJ? It may not be a problem with a logbook loan. So long as you own a car and have no outstanding finance you may still be eligible to receive a loan to spend on whatever you like. Simply fill in our enquiry form and Logbook Loans Scotland will be in touch.
Aberdeen, Alva, Edinburgh, Cumbernauld, Kilmarnock, Coldstream, Prestwick, Motherwell, Alloa, Hamilton, Bathgate, Wishaw, Maybole, Port Glasgow, Kilsyth, Dalkeith, Irvine, Stirling, Girvan, Helensburgh, Musselburgh, Arbroath, Airdrie, Greenock, Lanark, Newmilns, Duns, Darvel, Eaglesham, Biggar, Hawick, Stevenston, Coatbridge, Brechin, Cumnock, Peebles, Barrhead, Glenrothes, Dundee, Johnstone, Ardrossan, Peterhead, Dunoon, Burntisland, Paisley, Penicuik, Clydebank, Dunfermline, Livingston, Jedburgh, Callander, Montrose, Kelso, Falkirk, Tillicoultry, Dumbarton, Glasgow, Forfar, Alexandria, Dunbar, Galston, Galashiels, Selkirk, Earlsferry, Stewarton, Livingston , Rothesay, North Berwick, Lauder, Bonnyrigg, Armadale, Boness, Melrose, Haddington, Tranent, East Linton, Millport, Saltcoats, Loanhead, Bearsden, Lochgelly, Cowdenbeath, Eyemouth, Largs, Ayr, Innerleithen, East Kilbride, Denny, Dunblane, Grangemouth, Kirkcaldy, Buckhaven, Milngavie
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. With a minimum loan of £400 to a maximum of £50,000 a logbook loan will cover most older cars. So whether your car is a couple of years old or a more vintage model you could lend against it (providing you meet the other criteria). Simply enquire online by selecting the make, model and age of the car you would like to lend against and one of our lending partners will be in touch.
It's a common misconception that you can get a logbook loan without a credit check when actually all applications are credit checked. Where this misconception might have originated however is that this type of loan can often be more attainable than others as your vehicle is used as security. So if you have been refused a loan elsewhere then don't automatically think Scotland v5 logbook loans won't be an option for you. Get in touch to see if you qualify.
Most believe that this form of lending is not applicable to businesses, however if the vehicle you would like to take a loan against is registered to the individual applying for the loan then it could be possible for a small Scotland business or sole trader to apply successfully. Additionally, if the company name matches the name of the loan applicant then it may even be possible to proceed with a loan. In all cases we encourage you to get in touch via the form above to discuss your lending requirements.
If you're self-employed then you may well know that getting a loan for any amount can be problematic. The reason is that you are classed as high-risk to most lenders so they might not even consider your loan application. V5 loans however may be an option for you as you use your car for collateral against the loan which lowers the risk for the lender. Your loan application will of course still be subject to the usual checks such as credit and affordability, but you could find that a v5 Scotland logbook loan is the answer to your money lending requirements. Find out today!
Scotland Logbook Loans allow you to borrow up to 80% of your car's current value, and all ages of vehicle are considered. Depending on the value of your car you could lend anything from £400 up to £50,000! See below for some example lending figures:
|Car Value||Loan %||Loan Amount|
The maximum you can lend against your vehicle is 80% of the current market value, though of course you can lend less. If you're unsure about the value of your car, but know how much you need to borrow then simply complete the form and one of our lending partners will get in touch and you can get advice on how much you can loan.
Quite simply a logbook loan works by using your vehicle as security throughout the loan duration. If you are the registered owner of the car, then you can submit the V5 document to the lender as security. This enables you to borrow money whilst still driving your car. Once the loan is repaid in full, your V5 document is returned to you.
In order to apply for a loan there are a few requirements. Your car will need to be in good working order, insured, have a valid MOT and you will need the logbook (V5 certificate) which needs to be in your name. To confirm your personal details you will need some identification, proof of address and proof that you can meet the repayments monthly.
A V5 loan is a good idea if you have been refused elsewhere and have a car in your name that you own outright. They are straightforward loans and even allow you to carry on driving your car for the duration. They can be suitable for self-employed Scotland residents and those with less than favourable credit history too. As with all loans, in order for it to be a good idea both you and the lender need to be sure that the repayments can be made.
As part of responsible lending it important to ensure that repayments can be made to avoid further debt or repossession of your vehicle. If you are unemployed then you will still need to prove that you can make the repayments on your loan. As each individual circumstance is different we recommend you get in touch to discuss the best option available to you.
A Scotland V5 loan is often one of the preferred choices for those with less than favourable credit scores as your V5 document offers security for the loan. It's a misconception that logbook loans don't require credit checks... in fact they all do, however don't be put off by this as there is still a good chance of a loan if the criteria is met.
In order to provide you with a loan then you need to be able to prove that you can afford the repayments. This is part of a responsible lending approach to help prevent you going in to arrears or having to give up your vehicle. Complete the online form with a few details and have a chat to an advisor to see what is needed to make your loan application successful.
Logbook loans should show up on a HPI check, and will be displayed as a 'BIll of Sale' agreement but this is not always the case. If you conduct a HPI check and follow the buying guidelines then you will be protected by the HPI guarantee if there turns out to be a V5 loan against the car. This protection offers financial reimbursement of up to £30,000.
Your new loan can be taken for 12, 18 or 36 months. Interest is charged monthly with no early settlement penalties. By settling your debt as soon as possible you can avoid further interest charges.
Throughout the duration of the loan you will be ultimately responsible for the upkeep of your vehicle. It needs to be taxed and with a valid MOT and maintained at the same level as when the loan was first agreed (allowing for wear and tear). If there are any changes to the vehicle that could affect its resale value then the lenders should be notified.
If you own 2 vehicles and they are registered in your name then you may be able to take out 2 loans. The same application process applies however, and you will still need to prove that you can afford the repayments on both loans in order to be successful.
If you have any more questions regarding Scotland logbook loans then please get in touch using the form at the top of this page and one of our lenders will discuss with you any options available.
We are a lead generator, and receive a commission for introducing customers to FCA authorised and regulated lenders and brokers. No advice is given or implied on this website. Our service is free and you are under no obligation to accept any quotes you receive. When taking out a logbook loan, the logbook is held and owned by the lender until the loan is re-paid.
All loans granted subject to affordability. Proof of income will be required. A Log Book loan is secured against your vehicle, which may be repossessed if you do not make payment. Late or missed payments may incur a charge for chasing letters and telephone calls. Lenders abide by the CCTA voluntary Code of Practice. We do not have a renewal policy.
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