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Convenient Logbook Loans in Brackla

Enquire Online Today! - 01 Oct 2020

logbook loans Brackla

Logbook Loans Brackla


Looking for quick cash? Brackla logbook loans are for you

Brackla logbook loan quotes

Did you know that lending anything from £400 up to £50,000 and keeping on driving your vehicle is possible? Frequently the loan amounts can be paid out in under a day assuming that your car is free of any finance.

One of the fastest growing and most popular types of loan, Brackla Logbook Loans bypass the usual credit checks and obstacles that other loans require. Have you applied for and been declined a loan in the past? You may have found the very answer you’re looking for.

The money you release from your car can be used for any purpose... with a Logbook Loan you get complete freedom to do what you like with the money, so why not clear some debts or even go on a holiday?

Obligation-free quotes: You’re never obligated to accept the quote provided, so why not simply find out how much you could lend 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 your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

Easy online application: Applying for your Brackla Logbook Loan quote can be done quickly and easily online, and it only takes a minute!

Any reason loans: You don’t have to justify your reason for wanting a loan, you can spend the money you borrow on anything you like.

Flexible loan durations: Your loan can be tailored to your own specific circumstances, so have a chat with a Logbook Loan advisor today.

Getting Brackla Logbook Loan quotes is super easy too, all you have to do is fill in our online quote application form with a few basic details, you’ll then be contacted by a provider to discuss your loan requirements.

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

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Brackla lenders only let you borrow against cars under 8 years old, the Bridgend 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 Brackla

Borrowing Against Vintage, Classic & Vintage Vehicles

If you live in Brackla and are looking to borrow against your classic or vintage car then you could still qualify. All makes and models are considered based up on the value of the car itself, so if you own a prestigious car such as a Ferrari, Aston Martin, Rolls-Royce or a classic or vintage car then you will still be considered. FInd out how much you could borrow today.

no credit check Brackla logbook loans

No Credit Check Logbook Loans?

Don’t let the actual fact that all applicants are credit checked put you off. The phrase ’No Credit Check’ is actually a misconception that has arisen due to the fact that this type of loan can be more accepting of poorer credit scores. Using a vehicle as security throughout the loan period can make a loan more attainable to those with poor credit scores, so if you’ve been denied before then find out today if you can borrow.

loans for self employed in Bridgend

Self-Employed - Do I Qualify?

It has long been a problem for the Brackla self-employed to qualify for any type of loan as most Bridgend lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Brackla 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 Brackla 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.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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

Brackla Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Bridgend.

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 Brackla applicants.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Brackla residents can borrow depends on just how much their car is worth; some Bridgend lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Bridgend residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

Are Bridgend Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. Bridgend applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Brackla V5 Loans a great idea for many.

Can unemployed Brackla 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. Bridgend 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 Brackla loan application?

A poor credit score normally means refusal for any other type of Bridgend 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!

Is it a problem if I can’t prove my income level?

In order to qualify for Brackla logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Bridgend V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

Who is responsible for car maintenance?

Most logbook lenders will ask that you maintain your car so that the value remains the same (or close to the same) throughout the duration of the loan period. This maintenance includes regular servicing, MOT checks, and automobile insurance, among other things. You will need to notify your lender if anything reduces the value of your car significantly, including damage or mechanical problems. However, your lender will expect some additional mileage and the usual wear and tear throughout the loan term.

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 Bridgend 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.

How long do the repayment terms last?

Repayment terms start from 12 months to 36 months. 18 month repayment periods are also available. The larger the loan amount you borrow or apply for, the more flexible the loan repayment terms will be. If you are able to pay off the loan early, you will not incur any extra charges. As a matter of fact, it’s advisable to pay off the loan in advance since you will pay much less money in terms of monthly interest, in the long run.

Hopefully these should have answered some questions you may have regarding borrowing against your car. If you would like to find out more then simply complete the form on this page to speak direct to an advisor who can answer any questions you may have.