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Easy Logbook Loans in Grangetown

Enquire Online Today! - 25 Aug 2019

logbook loans Grangetown

Logbook Loans Grangetown


Looking for quick cash? Grangetown logbook loans are for you

Grangetown logbook loan quotes

Need to borrow up to £50,000 whilst still driving your car? You can do this and receive money the same day!. If your car is free of finance then from application to receiving your money can be as little as 24 hours!

If you don’t want to jump through hoops and have your credit score checked then Grangetown Logbook Loans are the obvious choice, and have become very popular. It doesn’t matter if you have been refusd another loan elsewhere, try borrowing against your logbook and it could be the answer you’re looking for.

The money you release from your car can be used for any purpose... why not clear some debts, book a holiday or simply give your cashflow a boost. Logbook Loans let you access the funds you require very quickly.

No-obligation quotes: Why not join hundreds of others who apply for completely obligation-free logbook loan quotes to see how much they can borrow.

Refused loans before? It can be embarrassing to be refused a loan due to poor credit history, so Logbook Loans might be the best option for you.

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

60secs online application: Just provide a few basic details about yourself and your car to apply online for your Grangetown Logbook Loan quote.

Any use loans: A Logbook Loan can be used for whatever purpose you like. The money you receive can be spend entirely as you wish, on whatever you want.

Personalise your loans: Your loan doesn’t come straight ’out the box’ and can be tailored to suit your own individual requirements. Speak to an expert today!

Thankfully applying for Grangetown Logbook Loans is a simple process, we just need some basic information about you and your vehicle which can be sent via our online form (in less than 60secs!), you’ll then be contacted by a provider to discuss your loan requirements.

With completely free quotes why not discover how much Grangetown Logbook Loans could allow you to loan?

logbook loans for older cars

Your Older Car Qualifies For a Logbook Loan

If you were unsure as to whether your older car would qualify for a loan then you may well be in luck. Where other Grangetown lenders might limit the borrowing to cars under 8 years of age, the lenders on our Cardiff network look at vehicle value rather than age . This means that most ages of car will be considered for a loan against it’s value. To see if your car qualifies is easy... just complete the small enquiry form you can see above.

loans against classic, vintage and prestige cars in Grangetown

Prestige, Vintage & Classic Vehicles

Any proud Grangetown 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 Grangetown logbook loans

No Credit Check Logbook Loans?

Sadly not true. In fact all applicants are credit checked when applying. It’s a popular misconception that everyone is eligible, however don’t let that put you off from enquiring... as a vehicle is used as collateral against the loan amount you may find that this type of loan is more attainable than others. So if you’ve had a loan application denied before then this could be the perfect solution to your borrowing needs.

loans for self employed in Cardiff

Are the Self-Employed Eligible to Borrow?

If you’re in Grangetown and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Cardiff lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

Grangetown 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 Grangetown 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.

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

Grangetown Loan Calculator

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

7000
80%

£5600

FAQs

If you have any questions regarding any element of Grangetown V5 loans then please get in touch via the form above. We’ve also compiled a list of frequently asked questions which should help answer any queries you may have.

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 Grangetown residents can borrow depends on just how much their car is worth; some Cardiff 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 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 Cardiff residency, along with payslips or bank statements that show your income.

Are Grangetown Logbook Loans a good idea for me?

If your circumstances mean that you have been refused a loan elsewhere then applying for this type of loan could help you lend the money you need. By using your car as security, V5 loans are more accessible to Cardiff residents who have less-than-perfect credit scores, or simply need to release some quick money from the value of their car. If you own your car and can afford the repayments then a V5 loan can be a good idea.

Can unemployed Grangetown 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. Cardiff 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 matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

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, Grangetown 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 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.

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 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.