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Convenient Logbook Loans in Maindy

Enquire Online Today! - 18 Jun 2019

logbook loans Maindy

Logbook Loans Maindy


Need fast convenient cash? Maindy logbook loans are the answer

Maindy logbook loan quotes

Keep driving and borrow the money you need, you can lend anything from £400-£50,000 against your car whilst staying mobile. What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

Maindy Logbook Loans are one of the fastest growing loan types for those not wanting to jump through hoops and undergo credit checks. They can often be the ideal solution for those who have had loan applications declined before.

It doesn’t matter what you wish to spend the money on either... so if you have some debts to clear, want to book a new holiday or want to boost your cashflow then Logbook Loans can provide access to the funds very quickly.

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?

Poor credit history? Logbook Loans are some of the most accessible loan types, which means it’s likely you’ll get a loan to suit you.

Keep mobile: It’s easy to stay mobile whilst still lending money against your car with a Logbook Loan. You can drive for the whole loan period!

60secs to apply: You can apply for your Maindy Logbook Loan quote in less than a minute with just a few basic online details.

Any use loans: If you’re looking for a loan that doesn’t restrict what you can spend the money on then a Logbook Loan is for you.

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 Maindy Logbook Loans with our site, we just need some basic information about you and your vehicle which can be sent via our online form (in less than 60secs!), shortly after a Logbook Loan specialist will contact you direct to chat about your loan requirements.

With our free no-obligation Maindy Logbook Loan quote service, why not find out how much you could borrow today?

logbook loans for older cars

Older Cars Are Eligible Too

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

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 Maindy 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 Maindy 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

Are the Self-Employed Eligible to Borrow?

If you’re in Maindy 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.

Maindy business v5 loans

Small Business Loans?

Some logbook lenders may be able to provide you with a business loan, but you should be sure to check with individual lenders to make certain. If your company car is registered in your name, or if your name and the company’s name match, then it may be possible to obtain a logbook loan for your Maindy business. Keep in mind, though, that if your vehicle is registered in a company name that does not match your own, most lenders cannot work with you.

Example Lending Figures Up To £50,000

You can see a table below showing some typical borrowing examples available based on a loan of 80% of your current vehicle value. With lending amounts from a minimum of £400 up to £50,000 most lending requirements are covered by a V5 loan:

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

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

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 Maindy logbook loans.

How do Cardiff V5 Logbook Loans work?

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

What should I supply on application?

Before you can proceed to enquire about a loan, you’ll first need to make sure you have all the proper documentation. You’ll need your logbook, or V5, which should be in your name, along with a current MOT and proof of insurance for the vehicle you want to use as security. You should bring a government-issued photo ID card, a recent utility bill as proof of Cardiff residency, and some form of income validation that proves your ability to repay your obligation.

What makes Maindy Logbook Loans a good idea?

There are numerous benefits to taking out a loan against your vehicle, but perhaps the main benefit that attracts many Cardiff applicants is that people with less than perfect credit scores can still be eligible to borrow money as their vehicle is used as security. So if you can afford the repayments and need to borrow some quick money then Maindy v5 loans can be a great idea. Get in touch to find out more.

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

Yes, Cardiff 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 Maindy loan application, simply enquire online using the form on this page.

My credit score is poor, can I still get a loan?

Even if you have a bad credit rating you may still find you qualify for a V5 loan in Maindy. Your vehicle is used as security so the loan is deemed lower risk when compared to other forms of lending. Though you will still be credit checked, it is often the case that loans are approved despite a poor credit history, which is why these loans prove so popular throughout Cardiff.

Is it a problem if I can’t prove my income level?

In order to qualify for Maindy logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Cardiff V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

What about car maintenance during the loan?

Although a logbook lender does reserve the right to take possession of your car if you default on your payments, if you are current, you are still the owner of the car. As such, all maintenance remains your responsibility, and this includes MOT checks, insurance, and regular servicing. Your lender will expect normal wear and tear along with additional mileage on the car, but if anything should significantly reduce the car’s value, you will be expected to report that change to the lender as soon as possible.

Will a Logbook Loan show on a HPI check?

Cardiff lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you 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.

Should you have any further queries you can hear direct from an advisor by simply filling-in the form above. An advisor will be in touch direct to chat further about our lending requirements and whether a V5 loan is suitable for your needs.