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Expert Logbook Loans in Ystrad Mynach

Enquire Online Today! - 01 Oct 2020

logbook loans Ystrad Mynach

Logbook Loans Ystrad Mynach


Release cash from your car with Ystrad Mynach logbook loans

Ystrad Mynach logbook loan quotes

Need to keep driving your car but want to unlock value from it? This could be the perfect solution for your borrowing needs. In less than 24 hours you could receive your loan amount providing your car is free from finance.

You don’t have to jump through hoops or undergo a lot of checks with Ystrad Mynach Logbook Loans either, which is why they’re so popular! The solution for your lending requirements, particularly if you’ve been declined a loan before could well be here.

What’s more the money you release can be used for anything you like... some like to clear debts with the money whilst others spend it on holidays or a cashflow boost, with Logbook Loans the choice is yours.

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?

Accessible loans: You won’t have to worry about a poor credit history too with a Logbook Loan as your application could well be approved.

Keep on driving: Need to lend some money and stay mobile? No problem with a Logbook Loan... borrow the money and keep your car keys!

Simple online application: It’s easy to apply online for your Ystrad Mynach Logbook Loan quote, just take a minute to complete our quick form.

Loans for any usage: How you want to spend the money you receive is completely up to you. You have complete freedom to spend the loan as you wish.

Flexible loans: Have a chat to a specialist to see just how suitable a Logbook Loan can be to your own individual borrowing requirements.

Applying for Ystrad Mynach Logbook Loan quotes is a simple process too, the quote application form on this page won’t take more than a minute to complete with some basic details, an expert loan provider will then be in touch direct to provide more information and a free Logbook Loan quote.

Why not apply online today to find out just how much you could lend with Ystrad Mynach Logbook Loans.

logbook loans for older cars

Older Cars Are Eligible Too

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

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! Ystrad Mynach 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 Ystrad Mynach logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Caerphilly

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Ystrad Mynach as most Caerphilly 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.

Ystrad Mynach business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Ystrad Mynach 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.

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

FAQs - Ystrad Mynach V5 Car Loans

In order to ensure you are as informed as possible when enquiring about your Ystrad Mynach 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 Caerphilly V5 Logbook Loans work?

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

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 Caerphilly residency, along with payslips or bank statements that show your income.

Are Caerphilly V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Ystrad Mynach residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

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

Yes, Caerphilly 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 Ystrad Mynach 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 Ystrad Mynach 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 Caerphilly 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 have no proof of income, can I still borrow?

If you own a car that’s registered in your name you might still be able to get a logbook loan, however you need to prove that you’ll be able to afford to make the repayments. As part of responsible lending, Ystrad Mynach v5 lenders have to ascertain that you will be able to make the payments as needed, so that you do not end up losing possession of your car. You should get in contact to discuss your particular situation. Fill in the above form to hear directly from an advisor who will take you through the available options.

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 HPI check show a Loan?

Any loans taken out against the car are normally recorded on a database which is known as the HPI Index where anybody can check for the vehicle’s history prior to purchasing it. When you do a HPI check, you will get to know the vehicle’s true financial history. The HPI check report will also show you the vehicle’s history including; whether the logbook is legitimate, insurance write-off, previous number of owners, previous number plate changes, potential mileage discrepancies, and more.

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 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.