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Expert Logbook Loans in Pengorffwysfa

Enquire Online Today! - 15 Dec 2018

logbook loans Pengorffwysfa

Logbook Loans Pengorffwysfa


Release cash from your car with Pengorffwysfa logbook loans

Pengorffwysfa logbook loan quotes

Keep driving and borrow the money you need, you can lend anything from £400-£50,000 against your car whilst staying mobile. It’s often the case that loans are arranged and completed in under a day assuming the vehicle in question is finance-free.

Now one of the most popular loan types available, Pengorffwysfa Logbook Loans let you bypass the usual credit checks and annoying hoops to jump through. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

The money you lend can be used for any purpose you like... so if you have some debts to clear, want to book a new holiday or want to boost your cashflow then Logbook Loans can provide access to the funds very quickly.

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

Been refused before? Your credit history won’t necessarily end your loan application, making Logbook Loans accessible to more people.

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

60sec application: Apply online for your free Pengorffwysfa Logbook Loan quote in just a minute with our online application form.

Any purpose loans: Your new loan can be used for any purpose you like such as paying off some other debts or going on holiday, whatever you choose!

Personalise your loans: Discuss your individual lending requirements with a specialist to see just how a Logbook Loan can suit your needs.

Using our website to apply for Pengorffwysfa Logbook Loans couldn’t be more simple too, we just need some basic information about you and your vehicle which can be sent via our online form (in less than 60secs!), we’ll then arrange for a Logbook Loan specialist to get in touch to discuss your lending requirements.

Discover just how much you could lend against the value of your vehicle with a quote for Pengorffwysfa Logbook Loans 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 Pengorffwysfa 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 Pengorffwysfa

Prestige, Vintage & Classic Vehicles

Any proud Pengorffwysfa owners of either a classic, prestige or vintage car can be eligible to take out a loan too. As each and every loan is based around the current value of your vehicle then high-end vehicles such as Rolls-Royce, Bentley, Aston Martin or classic cars such as Mercedes, Morgan can qualify as they are still desirable in the current market. The application to borrow against a more prestigious car is exactly the same.

no credit check Pengorffwysfa 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

Refused Elsewhere Due To Self-Employment?

Obtaining a loan when you are self-employed in Pengorffwysfa can be difficult as it is often hard to prove income stability. A loan against a logbook could provide the funds you need as your car is used as security against the loan making it less-risky for Anglesey lenders. Why not enquire online to discuss your lending needs? Please be aware that you need to demonstrate your ability to make repayments as part of responsible lending requirements.

Pengorffwysfa business v5 loans

What About Companies?

Pengorffwysfa 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

Loan Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Pengorffwysfa applicants.

How do Anglesey Logbook Loans work exactly?

The principal of borrowing against your car (or a V5 loan) in Anglesey is very straightforward... you use the V5 document of your car as security for a loan against it. Typically you can borrow up to 80% of the car’s value and have a range or repayment durations available. An added bonus of this type of loan is that Pengorffwysfa applicants can continue to drive their vehicles throughout the loan period, an once the loan is repaid in full the V5 document is returned. V5 loans are particularly popular with those who have less than favourable credit scores.

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.

Why are Logbook Loans a good idea?

They are often a good type of loan for Pengorffwysfa borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Anglesey V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out Pengorffwysfa V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Anglesey and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Pengorffwysfa. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Anglesey.

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 Pengorffwysfa 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.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Will a HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

How long do I have to repay?

Your loan repayments can be arranged over 12, 18 or even 36 months. There are no penalties if you wish to settle the account sooner, in fact it is encouraged as interest is charged monthly so you can save yourself money by paying your loan off sooner.

We hope these FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.