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Quick Logbook Loans in Brynmawr

Enquire Online Today! - 02 Jul 2022

logbook loans Brynmawr

Logbook Loans Brynmawr

Get easy, convenient cash with Brynmawr logbook loans

Brynmawr logbook loan quotes

Need to borrow up to £50,000 whilst still driving your car? You can do this and receive money the same day!. You can even receive your money in as little as 24 hours if your car is free from any finance.

Brynmawr Logbook Loans are perfect for those not wanting to undergo credit checks and jump through the hoops associated with other loan types. If other loan types have refused your application recently, then this could be the answer to your money lending needs.

The money you borrow is yours to spend on anything your like... Logbook Loans give you the flexibility to pay of other loan amounts, go on holiday or just release some cashflow if you prefer.

Free no-risk quotes: There’s never any need to commit when you apply for a free logbook loan quote, so why not find out what you could loan?

Refused loans before? Have you been refused a loan elsewhere due to a bad credit history? No need to worry with a Logbook Loan.

Keep driving your car: Keep the keys and carry on driving your car whilst enjoying borrowing some of the value.

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

Your money: The loan is yours, so you can spend the money borrowed however you wish. You have total control over the money at your disposal.

Loans to suit you: Your own individual loan requirements will likely differ from that of others, so chat to a specialist to arrange a loan to suit you.

It’s easy to apply for your Brynmawr Logbook Loan too, just tell us about yourself and your vehicle using our quick online application form, you can then discuss your lending requirements further as a loan specialist will be in touch direct.

Apply for your free no-obligation Brynmawr Logbook Loan quote today to see how much you could lend against your vehicle.

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Brynmawr lenders only let you borrow against cars under 8 years old, the Blaenau Gwent lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Brynmawr

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! Brynmawr 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 Brynmawr logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Blaenau Gwent

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Brynmawr 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 Blaenau Gwent 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.

Brynmawr business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Brynmawr 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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

Frequently Asked Questions

It’s only natural to have a number of questions regarding V5 loans, so we have compiled a series of answers to the more frequently asked questions. Please get in touch to discuss any element of Brynmawr logbook loans further.

How do Brynmawr Logbook Loans work?

The way Blaenau Gwent loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Blaenau Gwent and are increasing in popularity with those with bad credit.

What documents do I need to provide?

Enquiring about a loan is easy and only takes a few minutes of your time. You’ll need to provide some personal information along with a copy of your photo ID, your logbook (or V5 documents) most recent MOT, proof of car insurance, proof of Blaenau Gwent residency, and proof of income. These things will all help lenders verify your identity and ownership, and it will also help lenders decide what type of loan you can qualify for.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Blaenau Gwent logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Brynmawr. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

What about Brynmawr 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 Blaenau Gwent 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 Brynmawr 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, Blaenau Gwent residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Blaenau Gwent 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?

Those who are self employed or have little/poor credit history in Blaenau Gwent 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 Brynmawr 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.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

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 Blaenau Gwent 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 are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

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.