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Convenient Logbook Loans in Carmel

Enquire Online Today! - 15 Dec 2018

logbook loans Carmel

Logbook Loans Carmel


Unlock the value in your car easily with Carmel logbook loans

Carmel logbook loan quotes

If you still need to drive your car, but need access to same day money then you could borrow up to £50,000.. If your car is free of all finance arrangements then it’s possible to get your loan agreed and delivered in under 24 hours!

If you don’t want to jump through hoops and undergo credit checks to get your loan then Carmel Logbook Loans are perfect for you. This could be the perfect solution if you have ever had a loan application refused in the past.

Any money lent can be used for whatever reason you like... why not clear some debts, book a holiday or simply give your cashflow a boost. Logbook Loans let you access the funds you require very quickly.

Obligation-free quotes: You can apply for a free quote safe in the knowledge that there is never any pressure to commit.

Poor credit? Your credit history and CCJs/arrears aren’t necessarily a problem either when you apply for a V5 loan.

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

Apply easily online: Take only a minute to complete our application form. Thats all you need to do to apply for your Carmel Logbook Loan quote!

Loans for any usage: How you want to spend the money you receive is completely up to you. You have complete freedom to spend the loan as you wish.

Loan periods to suit you: It’s no good getting a loan that doesn’t meet your needs, so get in touch to discuss the various options available to you today!

It’s simple to apply for Carmel Logbook Loans as well, just use the online form to provide us with some basic information about both yourself and your vehicle, we will then arrange for a loan provider to get in touch with you to chat about your money lending needs.

With free no-risk quotes available in minutes, why not discover just how much Carmel Logbook Loans could allow you to lend?

logbook loans for older cars

Older Cars and Logbook Loans

Do you have a car older than 8 years? If so you might well have been refused a loan elsewhere as many Carmel v5 lenders restrict the age of the car they will lend against. That isn’t the case with our service however, as we base all our lending on the value of the car. So if your car is older than 8 years you can find out how much you could lend by simply entering your registration above.

loans against classic, vintage and prestige cars in Carmel

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Carmel then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Carmel logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional loan.

loans for self employed in Anglesey

Are the Self-Employed Eligible to Borrow?

If you’re in Carmel and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Anglesey lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

Carmel business v5 loans

What About Companies?

Carmel business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

Value of Car % Loan Loan Total
£500 80% £400
£1000 80% £800
£1500 80% £1200
£2000 80% £1600
£5000 80% £4000
£10000 80% £8000
£20000 80% £16000

Carmel Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Anglesey.

7000
80%

£5600

FAQs About Carmel V5 Loans

If you’ve got any questions about Carmel logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How do Anglesey V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Carmel borrowers temporarily transfer ownership of their car via the V5 document in exchange for an agreed amount. You need to own the car yourself (although a small amount of finance is allowed) then you simply hand over the V5 document to the lender. You can borrow up to 80% of the car’s current value, and repay the loan in instalments up to 36 months (early settlement is not penalised). V5 loans are popular with Carmel residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

What ID and documents do I need?

Providing logbook lenders with proof of Anglesey residency, income, car ownership, and identity is vital when you enquire for a loan. It only takes a few minutes, and you can do all of this with a handful of documents. Your photo ID, logbook (or V5 document), current MOT, proof of insurance, a utility bill, and a bank statement or copies of payslips will suffice. Bear in mind that some lenders may ask for additional information for verification purposes, too.

Are Carmel Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Anglesey residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Anglesey residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Carmel loan application, simply enquire online using the form on this page.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Carmel V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Anglesey and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Anglesey can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Carmel V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

Who is responsible for car maintenance?

Most logbook lenders will ask that you maintain your car so that the value remains the same (or close to the same) throughout the duration of the loan period. This maintenance includes regular servicing, MOT checks, and automobile insurance, among other things. You will need to notify your lender if anything reduces the value of your car significantly, including damage or mechanical problems. However, your lender will expect some additional mileage and the usual wear and tear throughout the loan term.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Anglesey lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

Those were a selection of the most popular FAQs we receive regarding borrowing against your car. Hopefully they have answered any questions you had, however if you would like to find out more then simply get in touch with an advisor by completing the simple from on this page.