Logbook Loans In Peterborough

We are delighted to let you know that applying for a V5 Solutions logbook loan in Peterborough is now easier than ever! To apply for  a Peterborough logbook loan you can quickly and simply apply right here at www.V5Solutions.co.uk or pop into your local Cash Shop on Westgate.

All you need to apply for a Peterborough logbook loan with V5 Solutions is:

  1. Be over 18 and own your vehicle outright (no outstanding finance);
  2. Have the V5 logbook (Registration Certificate), MOT and Insurance details;
  3. Have a regular income and evidence to support it (Bank statements and Payslips);
  4. Have Photo ID and proof of address.

You can unlock the cash in your car, van or motorcycle today in Peterborough with V5 Solutions. The loan will be paid out to you immediately after we sign the loan agreements and often just an hour or so of your application. Remember, with V5 Solutions you could borrow up to £5,000 today!
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Remember to see our Representative Example at the bottom of the page.

Logbook Loans – Car On Finance

At V5 Solutions we do our best to offer help and advice to our customers as best we can. We often have customers enquiring about various aspects of our logbook loan qualifying criteria and the question that comes up most is the one of existing finance on the car.

When you apply for  a V5 Solutions logbook loan you will complete your personal and vehicle details during the application process. As well as offering you an immediate, no obligation logbook loan offer we do ask whether your vehicle is free of finance. As part of our normal loan application processing we will check your vehicle for outstanding finance to ensure there are no other interested parties involved with your vehicle. This helps protect you and us.

If your vehicle has some outstanding finance we can often liaise with the finance company and settle the finance for you at the same time as taking out your V5 Solutions loan. In these instances you will receive the difference between the loan amont and the settlement paid to the finance company. This can all done seamlessly for you the same day you apply for the loan!

There are instances though when there is too much finance outstanding and we can’t offer you a V5 Solutions loan. This tends to occur if you have recently purchased your vehicle through your local Dealership or Garage on Finance. On these occasions you will have to settle the finance first before we can proceed with your V5 Solutions loan.

To apply for a V5 Solutions logbook loan simply apply right here for your no obligation loan offer. It only takes a few minutes to apply and you can have the money you need sooner than you might think.

Please remember to see our Representative Example at the bottom of the page.

Differences Between Logbook Loans And Payday Loans

The downturn in the economy over the past 5 years and many bank’s reluctance to lend to individuals has left many people unable to borrow from traditional sources as quickly and easily as they used to.

This has led many people to seek alternative lenders offering credit to people in the form of short-term loans. Over the last few years two of the most popular sources of short term finance have emerged, logbook loans and payday loans.

There are a few key differences between logbook loans and payday loans and the we will help highlight these.

Secured vs Unsecured

The main difference between logbook loans and payday loans is that one is secured and the other is not. Logbook loans from V5 Solutions utilise the security of the borrower’s vehicle (car, van or motorcycle) while payday loans are unsecured. This creates a distinct definition between who is eligible for either loan product and how much can be borrowed.

Credit Checks

As V5 Solutions logbook loans are secured against your vehicle we don’t carry out personal credit checks. As long as you meet our qualifying criteria you should be able to borrow £300 – £10,000 quickly and easily with us.

As payday loans are unsecured the lenders carry out extensive personal credit checks and if you have a low credit score, CCJ’s or arrears then you may not be accepted.

Amount Borrowed

A major difference between V5 Solutions logbook loans and payday loans is the amount that you can borrow. V5 Solutions offer same day logbook loans from £300 to £10,000 depending on your vehicle and personal circumstances. While Payday loans typically range between £50 and £300 they can be particularly useful if you only require a small amount to borrow over a short term.

Speed of Access

Payday loans offer same day loans, similar to V5 Solutions logbook loans, except that as the loan is unsecured the whole loan process can be completed online. This is very useful and convenient.

V5 Solutions provides same day logbook loans but we have to meet you in person to view your vehicle, sign our loan agreements and issue the loan payment to you. We can usually complete this all within a few hours of receiving your loan application!


While logbook loans and payday loans are typically more expensive than traditional Banks, they are far more convenient and flexible and if used correctly can be cost effective too.

A typical payday loan will cost £30 per £100 borrowed per moth. 30% interest per month. This means that if you borrow £100 for 1 month (or until your next payday) it will cost you £30 in interest and charges. In total you will repay £130. If you borrowed £500 it would cost £650 to repay in full.

As V5 Solutions logbook loans are secured on your vehicle we can charge you a lower monthly interest rate. If you borrowed £500 from V5 Solutions your final payment after 1 month would be £592. You would also be required to pay your 4 normal weekly instalments of £21.24.

If you have to extend your £500 payday loan for a further month you will incur an additional £150 in interest charges taking the total repayable to £800.

However, with V5 Solutions the total repayable after two months is only £749, including your normal weekly £21.24 instalments. This  makes a V5 Solutions logbook loan cheaper than a payday loan.

Loan Terms

Payday Loans are typically 1 month long compared to a V5 Solutions logbook loan which is 18 months long. In both cases you can settle your loan early and make large savings. With V5 Solutions you can settle your logbook loan at any time and pay less. To find out how much you could save by settling your loan early just call us on 01603615191.

 Loan Payout

Payday loans are typically deposited into your bank account. But what if you don’t have a bank account or you require the funds in your hand to pay for something urgently? This might not be the most convenient option for you.

Our logbook loan payments are more flexible and can be made either by cheque which you can deposit (or cash at various outlets in your town) into your account or we can pay directly into your bank by BACS or Faster Payment.

V5 Solutions provides convenient same day logbook loans throughout England. Use our logbook loan calculator for your free, no obligation, online logbook loan quote.

V5 Solutions are a committed responsible lender and we carry out comprehensive income and expenditure checks for each loan applicant before being approved. Please see our Representative Example at the bottom of the page.