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V5 Solutions Reviews [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on

Updated

V5-Solutions logbook loans

Overall Rated: 4.7 / 5

Summary

V5 Solutions bases its loans upon the ability of the person to make the loan payments and the equity of the vehicle. As such, the credit of the person does not play a substantial role in the application process, but rather the overall loan amount. The APR, for example, on a £500 loan is 691.3% and the APR on a £2000 loan is 437.50% (based on a 78-week loan). Loans are offered in durations of 18, 24, 30, or 36 months.

The application process is in three steps. The steps are to apply online, to bring in the vehicle’s documents, review the documents and sign the agreements, and then the customer will receive the loan payment. Borrowers should keep in mind that there is a need for a face-to-face appointment. This appointment tends to take about an hour.

Trust & Reputation

Rated 4.7/5

V5 Solutions has a high reputation for trust and reliability, winning the Trustpilot Top 10 in Category award, with an overall rating of 9.5 out of 10. Apart from their extensive knowledge of logbook loans, the friendliness of the representatives, coupled with their willingness to educate potential borrowers of the advantages and risks involved in a vehicle equity (V5 title) loan set them apart from competitors.

Expertise & knowledge

Rated 4.9/5

V5 Solutions specialises in logbook loans. The company, which was launched in 2012, is a member of the CCTA and is related to TopupToday. As the company strives to remain one of the top logbook lenders in the UK, the update the eligibility and the fees associated with the loans as the market and demands of the market change. Additionally, as the company is based upon vehicular equity loans, the company understands the necessity to adhere to the standards of the CCTA.

Customer Service

Rated 4.4/5

Customer reviews for V5Solutions are rated as excellent. Primarily, the borrower reviews state that the company is courteous, friendly, knowledgeable. They are also willing to work with individuals to ensure that payment of the loan is manageable. While the site does caution potential borrowers against obtaining loans which are beyond the person’s ability to pay, customer reviews have stated that V5 Solutions does work with customers when there are unforeseen emergencies, but there is a fee involved.

Customers have reviewed initial information and meetings with V5 Solutions as being extremely informative and open. The company secures the loans based upon the value of the vehicle, and so an inspection of the car is necessary before cash is transferred. Customers have stated that the inspection process is quick and that it does not feel like the “interrogation” process that some companies tend to present.

Perhaps one of the more notable aspects of the company is that not everyone is approved. While this may seem to be a negative, it is really a plus point. It goes to show that V5 Solutions is a responsible lender and that they will not lend to those who may lose their vehicle because they cannot pay.

We are independently reviewed by our verified customers and web users:
Rating: 4.7 / 4.7 with 1 votes

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