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Fast Logbook Loans in Penrhosfeilw

Enquire Online Today! - 20 Feb 2019

logbook loans Penrhosfeilw

Logbook Loans Penrhosfeilw


Need fast convenient cash? Penrhosfeilw logbook loans are the answer

Penrhosfeilw 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.. The loans can be arranged very quickly too... if your vehicle is finance-free you could get the money in just 24 hours!

If you don’t want to be jumping through hoops and carrying out embarrassing credit checks then Penrhosfeilw Logbook Loans are a popular choice. Have you applied for and been declined a loan in the past? You may have found the very answer you’re looking for.

What’s more the money loaned can be spent on anything you fancy... 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.

No-risk quotations: There’s no risk involved in getting a free quote as you never have to commit. Find out how much you could borrow today!

Accessible loans: You’ll be pleased to hear that your credit history might not scupper your application. Great if you’ve been refused before!

Keep mobile: There’s no need to stop driving for the loan period. Not only can you loan money, but you can continue driving your car throughout the loan!

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

Loans for any purpose: Whatever your need to take out a Logbook Loan you have the freedom of being able to spend the money as you please.

Personalise your loans: Your loan doesn’t come straight ’out the box’ and can be tailored to suit your own individual requirements. Speak to an expert today!

It’s really easy to apply for Penrhosfeilw Logbook Loans too, you can see our short online application form on this page which takes less than a minute to fill-in, you will then hear from a loan provider direct to discuss your application further.

Find out more about Penrhosfeilw Logbook Loans and discover how much you could loan by applying online for a free quote today!

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Penrhosfeilw V5 lenders. Many other Anglesey companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Penrhosfeilw

Borrowing Against a Classic or Prestigious Vehicle

Penrhosfeilw 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 Penrhosfeilw 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 Penrhosfeilw 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.

Penrhosfeilw business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Penrhosfeilw businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at 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

Loan Value Calculator

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

7000
80%

£5600

Logbook Lending FAQs

We receive a number of questions regarding Penrhosfeilw logbook loan applications, so for your convenience we have answered as many of the popular questions received below:

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Anglesey residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

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 opt for Penrhosfeilw Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Anglesey, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Penrhosfeilw loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can unemployed Penrhosfeilw residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. Anglesey V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

Does my poor credit score affect my Penrhosfeilw 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 Penrhosfeilw 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?

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.

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 is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.