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Easy Logbook Loans in Cathays Park

Enquire Online Today! - 26 Jun 2019

logbook loans Cathays Park

Logbook Loans Cathays Park


If you need quick cash then Cathays Park logbook loans are for you

Cathays Park logbook loan quotes

Did you know that lending anything from £400 up to £50,000 and keeping on driving your vehicle is possible? If you can has no finance attached to it you could access your loan in as little as 24 hours!

With Cathays Park Logbook Loans you aren’t required to undergo credit checks or jump through hoops like other loans making them incredibly popular. Been declined a loan elsewhere? You could be eligible to borrow the funds you’ve been looking for.

The money borrowed can be spent on anything you like too... perhaps you want to clear some of your debts, book a dream holiday or even simply to bost your cashflow a Logbook Loan can provide the money needed very quickly.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

Refused loans before? If previous loan applications have been thwarted at the credit-check phase then you’ll be pleased to know that may not be an issue!

Carry on driving: Release money from your vehicle whilst still keeping the keys and carrying on driving it with a Logbook Loan.

One minute application: You can apply for your Cathays Park Logbook Loan in les than a minute using our simple online quote 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: Loans that suit both your needs and budget can be arranged. Simply speak to the specialist to find out the very best deal for you.

It’s not difficult to apply for Cathays Park Logbook Loan quotes either, our online quote application form only takes 60secs to complete and that’s all you need to do, you’ll then hear from a loan provider direct who will deliver your personalised quote.

Find out just how much you could borrow against your car with a free Cathays Park 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 Cathays Park lenders only let you borrow against cars under 8 years old, the Cardiff 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 Cathays Park

I have Got a Classic Car... Can I Borrow?

As these form of loans are based upon the current market value of your car, then all makes, models and years are considered. If you are in Cathays Park and own either a prestigious car, or an older vintage or classic model then you might still qualify depending on the current value. Anything from Ferrari to Aston Martin, Bentley and Maserati are considered, along with vintage makes and models.

no credit check Cathays Park 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 Cardiff

Self-Employed? You Could Still Borrow

Most Cardiff lenders want proof of regular income which makes it very difficult for the self-employed in Cathays Park to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

Cathays Park business v5 loans

What About Companies?

Cathays Park business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Borrow From £400 - £50k

Your loan can be up to 80% of the current market value of your car which can be anything from £400 all the way up to £50k. With such as large range a V5 loan covers most borrowing requirements. We’ve compiled a table of lending examples for you to see 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

Cardiff Loan Calculator

Want to know how much you could borrow against your car in Cathays Park? Use this handy calculator to show up to 80%.

7000
80%

£5600

Your FAQs Answered

Getting a V5 loan is straightforward, but we know there are a number of questions you might like answered. We’ve compiled a list of some of the more frequently asked questions we receive concerning Cathays Park logbook loans.

So how does a Logbook Loan work?

A loan against your car, or V5 loan is a very straightforward way to lend money, especially for Cardiff residents who have had more traditional loan applications refused. Quite simply, you use your car’s V5 document as security to lend money against the value of your car. Anything up to 80% of the current market value can be borrowed, and repayments can be spread over 12, 18 or 36 months. What’s more, you can continue to drive your vehicle throughout the loan period, and upon completion your V5 document is returned.

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, Cardiff residency, and income – and they’ll need it to get you approved.

Why are Logbook Loans in Cathays Park a good idea?

This kind of loan is ideal for Cardiff residents who have bad credit score and have no other form of finance available to them. Regardless of how bad or poor your credit score history, there could be less chance of getting rejected. You simply need to meet the requirements, especially pertaining ownership of the car, and you could be approved for the loan. Your credit history might not be a negative factor when issuing the approval for your loan application. Generally, approval for lending against your Cathays Park vehicle mainly depends on the make or model of the car that you’re using as security. You can even get money on the same day!.

Can unemployed persons secure a Logbook Loan?

To be eligible for Cathays Park loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Cardiff loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does my poor credit score affect my Cathays Park loan application?

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

Do I qualify if I can’t prove my income?

To qualify for Cathays Park V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Cardiff.

Who should maintain the car during the loan?

Lenders ask you to provide proof of insurance at the time you enquire for a loan because they want to mitigate their risk in lending by making sure you’re covered in the event something should happen to your collateral while it is still in your possession. Along those same lines, lenders will expect that you have regular MOT checks and that you have your car serviced regularly throughout the loan period. This helps to maintain the car’s value, which is the lenders biggest interest. If for any reason your car’s value should depreciate significantly, you should immediately notify your lender of the circumstances.

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 Cardiff 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.