V5 Loans Review | www.v5loans.co.uk

V5 Loans

About…
Address: Millennium Business Centre, Humber Road, London, NW2 6DW.
Branding: V5 Loans. Also known as: V5Loans.
FCA Licence: 619852.
From: V5 Loans Ltd.
Launched: 2008.
Memberships: CCTA.
Related: No companies.
Website: www.v5loans.co.uk.

Loan Details…
Available: Monday to Friday. Times not specified.
Bad credit considered: Yes.
Manage: No V5 Loans login at www.v5loans.co.uk.
Offers: Bill of Sale.
Pricing: £1429/£1000 (12 months).
Sums: £500 to £20,000 (new and returning).
Terms: 24 months.
Notes: Service available to residents of England and Wales only. Appointments can be arranged at a convenient location with a same day being possible. In one area of the website there is a note of there being several hundred sites nationwide. It is not clear if they are referring to meeting points here, as they don’t have any actual owned stores. There is no note regarding operational days or times. This tends to indicate that a 9am/5pm working week would be in place. The max £20,000 sum is not headed any more, but it was on a past check. They now just head that cash from £500 is available. There is also no mention on terms, but their representative example covers 24 months (there is a chance the limit could be 18 though). Early settlements can be made. A photo ID, proof of address, proof of income plus expenditure must be taken along. Qualifying cars must be registered after 2003. No SSL is used.

Noteworthy…
– Amounts: £20,000 was previously displayed as the top logbook amount available. We were previously aware of this figure and other review sites also list the same limit. Whilst there is no longer a reference to this amount, it would be likely that it is still possible.
– Vehicle: There is no mention of other vehicles and so it does appear that you will have to take a loan out against your car. However, the 2003 limit shows that they can stretch to 12 years. This is an improvement on the sector average that stops at 10.

Updates…
– Cashback of £100 was previously issued if you could find a better deal elsewhere. This deal is no longer available.
– Cost is not confirmed, but we believe it did calculate as £1283.95 some time back that is a little higher than the current charge.
– Sums could be selected from £400 (now £500).