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Quality Logbook Loans in Ebbw Vale

Enquire Online Today! - 26 Sep 2020

logbook loans Ebbw Vale

Logbook Loans Ebbw Vale


Lend cash from your car with Ebbw Vale logbook loans

Ebbw Vale logbook loan quotes

Keep driving your car whilst borrowing anything up to £50,000 against the current market value today. Providing your car is free of finance you can get your money in as little as 24 hours from applying!

With Ebbw Vale Logbook Loans you aren’t required to undergo credit checks or jump through hoops like other loans making them incredibly popular. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

It’s no problem what you want to use the borrowed money for... a Logbook Loan gives you the flexibility to do whatever you like such as pay off other loans or put the money towards a holiday!

No risk quotes: With no commitment and no-obligation necessary why not get yourself a free quote to see how much you could loan?

Poor credit history? If you have ever been declined a loan due to your credit history then you don’t have to worry, you may still be approved!

Continue to drive: If keeping mobile is important to you then a Logbook Loan lets you borrow the money and keep hold of your car keys!

Apply online in 60secs: Our super-simple, online Ebbw Vale Logbook Loan quote application form will only take a minute to complete!

Any reason loans: Your loan is yours to spend however you wish, so if you want to clear some debts or go on holiday the choice is yours!

Loan periods to suit you: All borrowing requirements differ from individual to individual, so chat to a specialist to discuss your needs and tailor a loan.

Applying to get a Ebbw Vale Logbook Loan is a simple process, in fact all you need to do is complete the short application form on this page with some basic information, a short time after you apply you will be contacted direct to discuss your lending needs further.

With simple online application and free no-obligation Ebbw Vale Logbook Loan quotes, why not see how much you could lend now!

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 Ebbw Vale 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 Ebbw Vale

Lending Against Prestigious, Vintage and Classic Vehicles

Enquiring about a loan for a prestigious or vintage/classic car? You could be eligible to borrow against all prestige makes and models including Porsche, Aston Martin and Bentley plus classic car makes such as Morgan or Triumph. If you are in Ebbw Vale and the owner of one such car then simply get in touch today to see if you could borrow against the current market value.

no credit check Ebbw Vale 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 Blaenau Gwent

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Ebbw Vale as most Blaenau Gwent lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Ebbw Vale business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your Ebbw Vale business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

£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 Ebbw Vale, up to a maximum 80%.

7000
80%

£5600

FAQs - Ebbw Vale V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Ebbw Vale 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 Blaenau Gwent V5 Logbook Loans work?

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

What ID and documents do I need?

Providing logbook lenders with proof of Blaenau Gwent 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 Ebbw Vale 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 Blaenau Gwent, 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 Ebbw Vale loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can I still get a V5 Loan even if i’m unemployed?

Yes, Blaenau Gwent residents could still get a loan although you will still need to be able to prove that you can afford the repayments every month to avoid losing your vehicle. Responsible lending approaches mean the lender needs to be satisfied that you aren’t going to risk gong into arrears. To find out whether you can make a successful Ebbw Vale loan application, simply enquire online using the form on this page.

Does credit score affect loan applications?

If you have a poor credit score then you might have already been refused a loan elsewhere. Though disheartening it shouldn’t put you off applying for Ebbw Vale V5 loans, as using your car as security for the loan often means a more relaxed acceptance level. Your credit history will still be checked, but as long as you live in Blaenau Gwent and own the car outright (or with minimal finance left) then you have a good chance of being able to borrow against it’s value.

I can’t prove my current income... does that matter?

Responsible lending entails only lending money to Ebbw Vale applicants who can prove that they can afford the monthly repayments. It’s a way of trying to avoid accounts entering into arrears and even the repossession of a vehicle. Ebbw Vale v5 logbook loans are only offered to those who can prove that they can make the repayments, so if you have trouble doing so it’s best to get in touch to discuss the best option for your lending 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.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

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.