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Fast Logbook Loans in Elim

Enquire Online Today! - 23 Apr 2021

logbook loans Elim

Logbook Loans Elim

Your car is the answer to quick cash with Elim logbook loans

Elim logbook loan quotes

Need to keep driving your car but want to unlock value from it? This could be the perfect solution for your borrowing needs. Often, you can receive your loan amount in under 24 hours providing your vehicle has no finance attached!

Elim Logbook Loans are one of the fastest growing loan types for those not wanting to jump through hoops and undergo credit checks. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

The money you lend can be used for absolutely anything you like... Logbook Loans give you the freedom to spend your money freely so you could pay off some other debts or go on holiday, the choice is yours!

Free no-risk quotes: There’s never any need to commit when you apply for a free logbook loan quote, so why not find out what you could loan?

Refused loans before? It can be embarrassing to be refused a loan due to poor credit history, so Logbook Loans might be the best option for you.

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Elim 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.

Flexible loan periods: Whatever your borrowing requirements are there’s a good chance that a Logbook Loan will be suitable. Get in touch today to find out!

It’s simple to apply for Elim Logbook Loans as well, all you need to do is tell us about yourself and your vehicle with our online quote application form, a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Discover how much you could be lending with Elim Logbook Loans, apply online today!

logbook loans for older cars

Logbook Loans For Older Cars? Absolutely.

If you’re wondering whether your older car is still eligible for a loan then you may be in luck. Some other Elim lenders will limit the age of an eligible car to 8 years, but the lenders on our Anglesey network focus mainly on the current value of your vehicle which means that older cars may still be eligible. It’s easy to see if your car meets the criteria... simply complete the short enquiry form you can see above.

loans against classic, vintage and prestige cars in Elim

Prestigious, Classic and Vintage Cars

If you are a Elim classic car owner, or own a vintage or prestige car then you could still get a V5 loan. Based on the value of your vehicle you could borrow up to 80% of the current market value. So if you are the proud owner of a Bentley, Porsche, Maserati, Rolls-Royce or even a classic car then you can enquire in exactly the same way as any other car. Find out by enquiring online today.

no credit check Elim logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Anglesey

Are the Self-Employed Eligible to Borrow?

If you’re in Elim 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.

Elim business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Elim company vehicle as security is possible with some lenders. Remember that not all lenders have the same requirements, so it’s vital to check with them individually to learn their policies. Those that do will either ask that the car be registered in your name, or if it’s registered in the company name, the company name should be the same as yours.

Loan Amount Examples - £400 to £50k

The large borrowing range of a V5 loan covers most typical lending requirements. You can release up to 80% of the current value of your vehicle which can be anything from £400 right up to £50,000. Take a look at some typical lending examples in the table below:

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

Calculate Your Loan Value

You can see how much of a loan 80% of the value of your car results in by moving the sliders on our calculator.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Elim V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

How exactly do Anglesey Logbook Loans work?

A loan using your V5 document is a loan that’s secured on your car, so the lender owns your car until you repay the loan. When taking out a loan of this type, you’ll be asked by the lender to hand over the car’s V5 registration document or logbook. You can keep using your car as you repay the loan. You won’t get the logbook back until you have cleared the debt. If you default on the loan payments, your car can be seized by the lender.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Anglesey address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

What makes Elim Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Anglesey applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Elim v5 loans can be a great idea. Get in touch to find out more.

What about Elim V5 Loans and unemployment?

It can be difficult for the unemployed to take out any type of loan. As part of a responsible lending approach Anglesey logbook lenders need to be satisfied that you can make the payments every month so you minimise any risk of losing ownership of your car. As all situations are different, it is advised that you get in touch via the form on this page to discuss the lending options available to you.

Does my poor credit score affect my Elim loan application?

A poor credit score normally means refusal for any other type of Anglesey loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

What happens if I can’t prove my current income?

Anglesey V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Elim applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

Do HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Anglesey lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

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.