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First-Rate Logbook Loans in Wig Fach

Enquire Online Today! - 22 Oct 2020

logbook loans Wig Fach

Logbook Loans Wig Fach


Looking for quick cash? Wig Fach logbook loans are for you

Wig Fach 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.. You could even receive the loan amount in less than a day assuming no finance is in place on your vehicle.

Wig Fach Logbook Loans are an increasingly popular way of securing a loan as there are no hoops to jump through or embarrassing credit checks. Have any previous loan applications been refused? If the answer is yes then this might be the loan option you need.

You can spend the borrowed money on anything you like too... from paying off some debts to paying for a holiday or even just a cashflow boost, Logbook Loans can offer you the funds you need almost instantly.

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.

Poor credit rating? There isn’t the need to have a perfect credit history when taking out a V5 loan, which makes it accessible to more people.

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

Apply online: Just complete the simple application form on this page to apply for your free Wig Fach Logbook Loan quote today!

Any purpose: Whatever the reason for you wanting a loan, the money you receive is yours to do whatever you like with so the freedom is yours.

Loans that suit you: A loan needs to suit your own individual requirements, so have a chat with an advisor and see how a loan can be tailored to your needs.

It couldn’t be easier to apply for your Wig Fach Logbook Loan, we just need some basic information about you and your vehicle which can be sent via our online form (in less than 60secs!), a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Why not discover just how much you could borrow with a free Wig Fach Logbook Loan quote today?

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Wig Fach 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 Wig Fach

Prestige, Vintage & Classic Vehicles

Any proud Wig Fach owners of either a classic, prestige or vintage car can be eligible to take out a loan too. As each and every loan is based around the current value of your vehicle then high-end vehicles such as Rolls-Royce, Bentley, Aston Martin or classic cars such as Mercedes, Morgan can qualify as they are still desirable in the current market. The application to borrow against a more prestigious car is exactly the same.

no credit check Wig Fach logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not find out today!

loans for self employed in Bridgend

Self-Employed - Do I Qualify?

It has long been a problem for the Wig Fach 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.

Wig Fach business v5 loans

Logbook Loans and Businesses

A small Wig Fach business or sole proprietor can enquire for a logbook loan using a company car, but the car being used as security must be registered in the name of the enquirer. Sometimes, lenders may be able to provide loans using vehicles registered in the company name, but the name of the applicant must match the name of the company. For more information, be sure to ask your lender about their requirements.

Borrow From £400 to £50k - Examples

If you are eligible for a loan then you can release up to 80% of your car’s market value, which can be anything from £400 - £50,000 covering most lending requirements. We’ve created a list of lending examples so you can get an idea of loan amounts in 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 Amount Calculator

This useful loan calculator can show you a maximum 80% loan amount against the value of your car. Use the sliders below:

7000
80%

£5600

FAQs - Wig Fach V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Wig Fach logbook loan we have listed some answers to FAQs received below. If you have any more please get in touch using the form.

How Logbook Loans work

If you own a car and live in Bridgend, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

What will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your Bridgend residency, along with payslips or bank statements that show your income.

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 Wig Fach V5 Loans a great idea for many.

What about Wig Fach 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 Bridgend 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.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Wig Fach borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Bridgend lenders might be able to provide a more accessible option despite the bad credit. Although you will still have to undergo a credit check, V5 lenders can be more tolerant to bad credit scores; as responsible Bridgend lenders, they will have to assess the loan applicant’s ability to repay the loan, and their vehicle’s value to ensure that the loan can be guaranteed.

I can’t prove my income, is that a problem?

Wig Fach V5 logbook loans can be advantageous for borrowers with poor or little credit history. Being unemployed, self employed, having arrears, CCJs, or bankruptcies can make one a bad credit borrower, and the traditional Bridgend lending institutions will most probably refuse your loan application due to the high risk associated. With a loan against your car, you might still qualify even if you have poor credit so long as you can prove you’re able to make the repayments in a timely manner. Responsible lending is designed to help prevent the risk of you losing ownership of your car. Since different people have different circumstances, it’s advisable to to get in contact to discuss your particular situation.

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.

Will a Logbook Loan show up on a HPI check?

An HPI Check is a car check which is provided by HPI ltd. which scrutinises the history of motorised vehicles that are registered in UK including vans, motorbikes and cars. The HPI check report alerts you to any kind of worrying information that’s held against the car by insurance or finance companies, the police, the DVLA, and such other industry bodies. A loan against your car will show as a Bill of Sale Agreement. If for any reason it doesn’t show on a HPI check then the HPI guarantee will offer reimbursement of up to £30,000.

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.

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.