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Fast Logbook Loans in Llanddona

Enquire Online Today! - 15 Dec 2018

logbook loans Llanddona

Logbook Loans Llanddona


Llanddona logbook loans can unlock the value in your car

Llanddona logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? If your car is finance-free then there’s a good chance you could even receive your loan within 24 hours!

With Llanddona Logbook Loans you won’t have to jump through hoops or undergo embarrassing credt checks which helps explain their popularity. Have you applied for other loans and been declined? You might be more likely to get the funds you require with this type of loan.

The borrowed money can also be used for whatever you like... with a Logbook Loan you get complete freedom to do what you like with the money, so why not clear some debts or even go on a holiday?

No obligation: There’s never any pressure to commit to the free quote provided, so find out the amount you could loan risk-free today!

Refused before? Been declined a loan before because of poor credit? Don’t worry this time as your application for a loan could still be accepted.

Continue driving: You can continue to drive your car as normal for the entire loan duration whilst lending money against it with a Logbook Loan.

Apply easily online: Take just a minute to complete our online form with some basic details in order to get your Llanddona Logbook Loan quote.

Your money to use: Spend your new loan on anything you fancy, from paying off other debts to buying a holiday you have complete freedom of choice.

Flexible loan durations: Your loans can be tailored to suit your own individual needs, speak to a specialist to see what can be arranged for you.

Thankfully it’s a simple process applying for Llanddona Logbook Loans, we just need some basic information about you and your vehicle which can be sent via our online form (in less than 60secs!), you’ll then hear direct from a loan specialist to chat about your lending needs further.

Apply online today to see just how much money you can release with Llanddona Logbook Loans!

logbook loans for older cars

Get a Logbook Loan For Your Older Car

It’s true... your car may still be eligible for a loan even if it is older than the 8 year limit some other Anglesey lenders impose. Your borrowing amount is based upon the value of your vehicle, so as long as it has some value it could well be eligible for a loan. Finding out if your car qualifies is easy too... just complete the short online form to see how much you could borrow with a V5 loan.

loans against classic, vintage and prestige cars in Llanddona

Borrowing Against a Classic or Prestigious Vehicle

Llanddona owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Llanddona 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

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Llanddona lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Anglesey as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Llanddona business v5 loans

What About Companies?

Llanddona 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.

Borrow Anything From £400 - £50,000

If you qualify you can borrow up to 80% of your car’s market value which can be anything from £400 up to £50,000. This broad lending range covers most requirements. So you can get an idea of how much 80% equates to against your car’s value take a look 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

Anglesey Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

7000
80%

£5600

FAQs About Llanddona V5 Loans

If you’ve got any questions about Llanddona 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 Logbook Loans work then?

The premise of borrowing against your car is simple... use your car’s V5 title document as security to lend against the value of your car. In fact you can lend anything up to 80% of the car’s value up to a maximum of £50,000. The application process is simple, and this type of loan is popular among Llanddona residents as they are often accessible to those with poor credit scores as the vehicle is used as security. Once your loan is repaid, you receive your V5 document back and carry on as normal.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Anglesey residency, and income – and they’ll need it to get you approved.

What makes Llanddona 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 Llanddona v5 loans can be a great idea. Get in touch to find out more.

Can I qualify for Anglesey car logbook loans if I am unemployed?

If you live in Anglesey, are unemployed and are looking for a way to secure a personal loan, then you might be eligible to borrow against your car. As long as you own a car that’s registered in your name then you could qualify. However, it’s important to note that all Llanddona applicants have different situations, so it’s advisable to get in touch with the logbook lender. Also, as part of responsible lending, the loan applicant has to be able to prove that they can afford to make the loan repayments to avoid extra charges, late repayments and possible repossession of their vehicle.

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 Llanddona 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.

I have no income proof, is that a problem?

In order to qualify for your Llanddona car logbook loan, you need to prove you will be able to make the loan repayments as stipulated. Being self employed or unemployed might not stop you from getting approved, as long as the loan lender can see that you’ve the ability to cover your logbook loan payments. However, you should fill in the above form to hear from an advisor about the available loan options for you.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

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.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.