(1)Can I still apply even with history of ccjs or defaults?
- Yes, you are welcome to apply for our same day logbook loans despite bad credit. In fact, we especially cater to people with bad credit who have been refused a loan elsewhere.
(2). What are the documents do I need to prepare?
- When applying for a logbook loan, you need to prepare the following documents:
- Logbook or V5 document
- MOT certificate
- Insurance details
- Proof of identification
- Proof of billing address
- Proof of income
(3). Do I need to be employed?
- You can be self-employed, working part time or full time to be eligible for a logbook loan with Matlock Loans. You just need to provide proof of income to prove your financial capability.
(4). What are the types of vehicles do you accept?
- Matlock Loans accept all types and brands of cars provided that it is less than 10 years old and is free of any financing.
(5). How much can I borrow?
- You can borrow a minimum of £500 up to £50,000 maximum or up to 70% of your car's official trade value.
(6). Can I still keep my car when approved?
- Yes, you can still keep and use your car after the loan approval. All we need is your V5 or logbook document along with your MOT certificate and insurance details.
(7). How long before I can receive the money?
- Once your application is approved, you can expect to receive the money within minutes via wire transfer to your bank account.
(8). Do you require customers to disclose the reason for the loan?
- No. You can use the loan any way you want.
(9). How do I pay for the loan?
- Loan repayments are done per month via direct debit deduction. The repayment mode is set-up during the application process. Just make sure your debit account has enough balance to cover for your monthly dues.
(10). What happens if I can't repay the loan?
- In the event that you can't repay the loan, we will attempt to contact you to make new payment arrangements or send out a debt collector to collect your repayments. If you fail to respond after several attempts, we may need to repossess your vehicle to cover for the outstanding balance.
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