Logbook Loans for Older Cars Review: Which one is best for you?
Did you know that you could get logbook loans for vehicles that are over 10 years old? In case you weren’t aware, there are institutions that have specialized on issuing loans for old vehicles. Therefore, instead of letting that rusty aged automobile rot in your garage, why don’t you use it to get a loan? The process is really simple. All you need is your V5 document and that’s it. However, you need to note that the vehicle will run a valuation test before you can receive the loan. Don’t expect that much though. After all, it is an old vehicle. In case you have decided to get yourself a logbook loan, below are some of the best ones the United Kingdom has to offer.
Easy Logbook Loans
Are you looking for a stress free logbook loan? The name says it all. With easy V5 loans, getting money with your vehicle on the line is quick and simple. One thing you will like about this log book loan company is the monthly payment calculator that lets you know how much you need to pay back every month before your loan expires. All you need to do is insert your repayment period and money borrowed and voila! You get your expected monthly payments. Unfortunately, the least amount of cash you can borrow is £750. That’s pretty steep compared to other logbook loan offers.
Varooma Logbook Loans
Varooma is a well-known logbook loan lender in the UK. It is quite reputable and you can depend on it for some of the best loan offers. They specialize in offering short term loans and are a great option for bailing you out quickly. Furthermore, they are not so strict when it comes to issuing loans. They don’t even have a maximum vehicle age! Even with a poor credit history, you will be able to get a fair loan amount with Varooma. Additionally, they do not have any hidden costs and charges, enabling you to acquire your loan smoothly. However, you will have to wait for hours before you get a credit decision.
Car Cash Point Prestige and Vintage Loans
If you are in need of a really long-term logbook loan, then Car Cash Point is one option you should really consider. Unlike Varooma, these lenders specialize in long-term loans. They can offer loan amounts of up to £1000000! You have to admit that that is some serious cash. Therefore, if you want a huge sum of money, you are definitely in the right place. However, you should know that such an amount of funding only comes at the expense of a costly vehicle. So, if you don’t own a good German machine, super car, or any other high end vehicle, you won’t be able to get that much out of them.
Auto Advance Logbook Loans
Are you in a hurry of getting a logbook loan? Then Auto Advance is one of your best chances. Their quick response is quite impeccable. In fact, they will give you the decision of your loan in minutes! Therefore, you won’t have to wait for hours or days just to meet the disappointment of not being disqualified for your loan. Apart from the decision, Auto Advance offers reasonable APR rates and a variety of loan quotes for you to choose from. However, your vehicle has to be equal to or less than 10 years old in order to qualify for a loan from this lender.