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Fast Logbook Loans in Menai Bridge

Enquire Online Today! - 15 Dec 2018

logbook loans Menai Bridge

Logbook Loans Menai Bridge


Looking for quick cash? Menai Bridge logbook loans are for you

Menai Bridge 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.. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

Menai Bridge Logbook Loans have increased in popularity as you aren’t required to undergo the checks and hassles that other loans require. The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

The money borrowed can be spent on anything you like too... 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!

No obligation necessary: Join hundreds of people who apply for a free quote every single day! No risk and no-obligation necessary.

Poor credit? If you’ve been refused a loan elsewhere due to bad credit ratings then try a Logbook Loan which can be far more accepting.

Keep driving your car: You can stay mobile whilst releasing value from your car throughout your loan’s duration.

Apply easily online: The online Menai Bridge Logbook Loan quote application process couldn’t be easier and won’t take more than a minute.

Any purpose: Whatever the reason for you wanting a loan, the money you receive is yours to do whatever you like with so the freedom is yours.

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.

It couldn’t be easier to apply for Menai Bridge Logbook Loans with our site, simply complete our online form with a few basic details which will only take 60 seconds, soon afterwards a specialist will get in touch with you direct

Discover just how much you could lend against the value of your vehicle with a quote for Menai Bridge Logbook Loans today!

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Menai Bridge logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Menai Bridge

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Menai Bridge classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Menai Bridge logbook loans

No Credit Check Logbook Loans?

Not true unfortunately, however don’t let that put you off! Even though all applicants are credit checked you may find that these loans are more attainable as your car is used as security for the duration of the loan, which is why people can often be accepted when they have been denied more traditional loans. So if you’ve been denied a loan before due to a poor credit score then give a V5 loan a try and find out today.

loans for self employed in Anglesey

Are the Self-Employed Eligible to Borrow?

If you’re in Menai Bridge 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.

Menai Bridge business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Menai Bridge companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

Loan Value Calculator

Use the sliders to see how much you could lend against your logbook in Menai Bridge, up to a maximum 80%.

7000
80%

£5600

FAQs - Menai Bridge V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Menai Bridge logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How do Anglesey V5 Logbook Loans work?

Borrowing against the value of your car, or V5 loans are a form of secured lending where Menai Bridge 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 Menai Bridge residents as they are frequently more accessible to those with lower credit scores that might have been refused elsewhere.

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.

Why might a Logbook Loan be a good idea?

If you live in Menai Bridge, have bad credit history, have been refused a loan elsewhere or simply need some fast money to spend on whatever you like then getting a loan against your V5 document can be a good idea. Using your car as security makes this type of loan more accessible to Anglesey residents with poor credit scores which is why they are so popular nowadays. So long as you can afford the repayments then they could be the answer to your lending needs.

What about Menai Bridge 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.

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Menai Bridge loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, Anglesey residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Anglesey loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

What if I can’t prove my income?

In order to be eligible for Menai Bridge V5 loans the lender needs to be sure that you can afford the repayments. Responsible lending is important to ensure you don’t fall into arrears or risk losing ownership of your vehicle, and if the lender cannot prove this then you won’t be offered a loan. In circumstances such as this it’s always best to get in touch direct using the form you can see on this page.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Anglesey lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial reimbursement of up to £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.

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.