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Expert Logbook Loans in Soar

Enquire Online Today! - 02 Aug 2021

logbook loans Soar

Logbook Loans Soar

Soar logbook loans can unlock the value in your car

Soar 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. Providing your car is free of finance you can get your money in as little as 24 hours from applying!

Soar Logbook Loans are now one of the most popular loan types because you don’t need to jump through hoops and undergo credit checks. If you’ve been refused a loan for whatever reason then this could well be your best way to obtain the funding you need.

Whatever amount you borrow can be spent on anything you like... Logbook Loans offer utter flexibility and the freedom to do what you like such as pay off other loans or go on a holiday with the money.

No-obligation quotes: You don’t have to commit to a loan, why not just get a free quote to see how much you could borrow against your car.

Accessible lending: There is no need to have perfect credit with V5 loans, making them one of the most accessible forms of loans available.

Keep driving: Not only do you get to borrow the agreed amount, but you can carry on driving the vehicle for the entire loan period!

One minute application: Applying for your no-obligation Soar Logbook Loan quote can be done online and only takes a minute!

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

Getting Soar Logbook Loan quotes is super easy too, our application form takes just 60 seconds to complete and that’s all you need to do, soon afterwards a specialist will get in touch with you direct

With a free Soar Logbook Loan quote available in no time at all, why not apply online today to see how much you could borrow?

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 Soar 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 Soar

V5 Loans For Classic and Prestigious Cars

If you are the lucky owner of a prestigious or classic car then this type of loan could still apply to you! Soar residents (if eligible) could get a loan against all makes and models including Aston Martin, Bentley, Rolls-Royce, Porsche and Ferrari not to mention vintage models. The loan amounts are based upon the value of your vehicle, so most older models are considered.

no credit check Soar 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

Loan Rejected Due To Self-Employment?

Unfortunately if you are self-employed you may be familiar with having loan applications rejected as most Anglesey lenders want a guaranteed income. If you apply for Soar car V5 loans however, the lender takes into consideration your vehicle being used as security for the payments so you may be eligible to borrow. In order to comply with responsible lending, you are still required to prove you can cover the monthly payments.

Soar business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Soar 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.

Unlock £400 - £50,000 From Your Car

Most lending requirements are covered by the amount you can borrow with a V5 loan. You can unlock up to 80% of your current car’s value (which can be anything from £400 up to £50,000). Here’s a table showing some typical borrowing amounts at 80%

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 Loan Calculator

Want to know how much you could borrow against your car in Soar? Use this handy calculator to show up to 80%.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Soar 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 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 opt for Soar 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 Soar loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can the unemployed secure a Logbook Loan?

Soar individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Anglesey might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

What if I can’t prove my income?

In order to be eligible for Soar 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.

Who should maintain the car?

When you agree to a loan, you also agree that you will continue to maintain the car while it is in your possession. This maintenance should include regular servicing, maintaining insurance at all times, and necessary MOT checks. Some normal wear and tear, along with additional mileage, is to be expected, but you should maintain your car to the same value it had when you took the loan. This means that if significant damage or mechanical failure should occur and reduce the value of your car, you should notify your lender right away.

Do Logbook Loans show on a HPI check?

Yes. It is a requirement for all Anglesey lenders to register each and every loan via companies such as HPI. In the unlikely event that you discover your new car to have a loan attached to it that didn’t show up on a HPI check then you will be eligible for up to £30,000 reimbursement in accordance with the HPI guarantee.

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.

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.