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First-Rate Logbook Loans in Penybryn

Enquire Online Today! - 04 Dec 2020

logbook loans Penybryn

Logbook Loans Penybryn


Need fast convenient cash? Penybryn logbook loans are the answer

Penybryn logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. Providing that no finance is attached to your car you could even receive the funds agreed in under 24 hours of applying!

Other loan types require you to jump through hoops and undergo credit checks, but Penybryn Logbook Loans don’t which is why they’re so popular! Been declined a loan elsewhere? You could be eligible to borrow the funds you’ve been looking for.

Whatever amount you borrow can be spent on anything you like... from clearing some debts to giving your cashflow a boost a Logbook Loan can provide the funds you need almost immediately.

No risk quotes: All the quotes provided are completely risk-free as there is never any pressure to commit to a loan.

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

Carry on driving: Lend money from the value of your car and carry on driving it at the same time with a Logbook Loan!

Easy online application: All you need to do to apply for your Penybryn Logbook Loan quote is fill-in our 60sec online form with some detials.

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.

Luckily our site makes it easy to apply for Penybryn Logbook Loans, all you need to do is tell us about yourself and your vehicle with our online quote application form, you then hear from a Logbook Loan provider who can assess your requirements and provide you with a free quote.

Get your free Penybryn Logbook Loan quote today by applying online to see how much you could lend.

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 Penybryn 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 Penybryn

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! Penybryn 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 Penybryn 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 Caerphilly

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Penybryn 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 Caerphilly 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.

Penybryn business v5 loans

Logbook Loans for Companies?

Getting a logbook loan using your Penybryn 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.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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

Calculate Your Loan Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

Penybryn V5 Logbook Loan FAQs

It’s only right that you have all the information you need before proceeding with your Penybryn logbook loan application. Here are a list of answers to the more frequently asked questions we receive:

How Logbook Loans work

If you own a car and live in Caerphilly, 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.

When applying, what do I need to provide?

When it comes to enquiring about a loan, lenders often have different requirements, but the basics are the same across the board. You should have access to your photo ID, car insurance policy, current MOT, logbook, bank statements or payslips, and a current utility bill that is in your name. These things provide the lender with proof of your identity, ownership, Caerphilly residency, and income – and they’ll need it to get you approved.

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 Caerphilly logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Penybryn. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can unemployed Penybryn 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. Caerphilly 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.

Can I Get a Loan With a Poor Credit Score?

Taking out a loan when you’ve bad credit score is tough for many Penybryn borrowers. Because of the poor credit score, major loan lenders like banks are less likely to approve your loan application. Caerphilly 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 Caerphilly 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?

Penybryn 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 Caerphilly 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.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

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 Caerphilly 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 loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.