After successfully completing your V5 Solutions loan application one of our underwriters will call you right back to discuss the loan details further and arrange a logbook loan appointment to meet you and sign the loan agreements.
The phone call usually lasts 10-15 minutes and during the call we will get to know you and your loan requirements. We will explain the whole loan process to you, covering all the financials and answer any questions you may have.
If you are happy with everything we can then arrange your appointment so we can meet to sign the agreements and issue you your logbook loan payment.
We meet you locally either at one of our appointed agents or in the comfort of your home (Monday to Saturday) so it is more convenient for you. We can usually arrange to see you within a couple of hours of completing the online application form.
The appointment usually lasts about 45 minutes. This is to give you plenty of time for us to review your documents, check over your vehicle and go through our agreements with you. We give you plenty of time to read through the agreements and ask any questions you still might have. We will need you to bring some things to the appointment as detailed below. Don’t worry; we’ll remind you about these by email and SMS before the appointment so you don’t forget anything. We’ll need to see:
- Your Vehicle, spare key and V5 Registration Certificate or Log Book.
- Your MOT and Insurance certificates
- Photo ID
- 2 recent utility bills
- Your last 2 months proof of income (Bank Statements and Payslips usually).
Why Do We Need All This?
We are responsible lenders and as we don’t carry out credit checks on you we need to satisfy ourselves that the loan repayments are affordable and sustainable to you over the full term of the agreement. Although the loan is secured on your vehicle we realise how important a vehicle is to you so we do our utmost to ensure that your loan repayments are affordable to you for the length of the agreement.
We also need to see the vehicle and its associated documents to verify its identity, condition and status. We carry out a thorough background finance check on your vehicle as well to ensure there is no outstanding finance or any adverse vehicle history.
After our vehicle checks we will take copies of all your documents and go through an affordability check with you. This is to ensure you can comfortably afford the loan repayments as described above. We’ll then go through our agreements with you and answer any questions you might have. Once you are happy with everything we’ll sign the agreements together and issue you the logbook loan payment immediately afterwards.
Making V5 Solutions Loan Repayments
At the loan appointment we will also set up your logbook loan repayments. This is usually with an automated Standing Order direct from your bank to ours, either weekly or monthly depending on your circumstances. Please note that if you opt for monthly payments these must be in advance and not in arrears.
We will also issue you with a NatWest paying in book for you to make manual payments into any NatWest Bank. These can be weekly or monthly as above but as they are made manually you have to remember to make them each time.
You can also make one-off payments over the phone by Debit Card to us. Please note that these attract a 50p charge per payment whereas the two options above are absolutely free. In all cases please ensure all your payments are of the right amount and made in accordance with your agreement.
If you are looking or a simple and fast no credit check logbook loan look no further than V5 Solutions. Apply online now and unlock the money in your vehicle today.
Please see our Representative Example at the bottom of the page.