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First-Class Logbook Loans in Morganstown

Enquire Online Today! - 17 Jan 2019

logbook loans Morganstown

Logbook Loans Morganstown


Get easy, convenient cash with Morganstown logbook loans

Morganstown logbook loan quotes

Did you know that if you take out a loan against your car you could carry on driving it for the loan duration? What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

With other loans you’ll be asked to jump through hoops and undergo credit checks which isn’t the case with Morganstown Logbook Loans. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

Your loan can even be used for any reason you like... why not pay off a few debts, treat yourself to a holiday or even give your cashflow a boost? Logbook Loans can provide you with the funds you need quickly and easily.

No risk quotes: With no commitment and no-obligation necessary why not get yourself a free quote to see how much you could loan?

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!

Use your car: Keep on the road throughout the loan period with a Logbook Loan. You can borrow money and keep the keys to your car!

Apply online in 60secs: Our super-simple, online Morganstown Logbook Loan quote application form will only take a minute to complete!

Any purpose: No matter what reason for you wanting to take out a Logbook Loan, the money you lend is yours to spend however you like.

Personalise your loans: A Logbook Loan is a flexible loan that can be tailored to suit your own needs. Get in touch to discuss your lending requirements.

Don’t think it’s difficult to apply for Morganstown Logbook Loans either, in fact you only need to complete the short quote application form on this page which won’t take you more than a minute, you’ll then hear from a loan specialist with whom you can discuss your loan requirements.

Get your free quote today to see how much you could lend with Morganstown Logbook Loans!

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 Morganstown 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 Morganstown

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 Morganstown 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 Morganstown logbook loans

No Credit Check Logbook Loans?

Unfortunately the ’No Credit Check Loan’ doesn’t actually exist as all applicants for this type of loan are in fact credit checked. The reason for this misunderstanding is probably due to the fact that a V5 loan can be more accepting of bad credit scores as a vehicle is used as collateral during the repayment period. This can make them perfect for those who have been denied elsewhere. Find out today if you qualify!

loans for self employed in Cardiff

Self Employed - Been Refused Elsewhere?

It has always been a problem for the self-employed in Morganstown to get a loan as most lenders want to see a more secure income. Cardiff Logbook lenders however can often be more sympathetic to these situations as your car is secured against the loan total during the repayment period. With any responsible lending however, you will still be required to prove that you can afford to make the monthly repayments, so get in touch today.

Morganstown 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 Morganstown 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 - £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

Loan Value Calculator

Use the sliders to see how much you could lend against your logbook in Morganstown, up to a maximum 80%.

7000
80%

£5600

Morganstown V5 Logbook Loan FAQs

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

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.

On application, what documents will I need?

Many people have questions about the types of documents and information they’ll need to enquire about a loan. Fortunately, the process is simple and requires only a few basic documents. A photo ID, proof of insurance, your logbook, a current MOT, a utility bill, and your bank statement will typically suffice. Bear in mind that different lenders may have different requirements, so make sure you have access to the documents they might request.

Why opt for Morganstown Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Cardiff, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Morganstown loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can the unemployed secure a Logbook Loan?

Morganstown individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Cardiff might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Cardiff lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Morganstown applicants are still credit checked, but may find this type of loan more accepting than others.

I can’t prove my income, is that a problem?

Morganstown 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 Cardiff 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.

Car maintenance - whose responsibility?

During the entire period of your loan, it is your responsibility to maintain the car. The lender does not and will not take possession of the car unless you default on your payments. As part of your agreement, you should ensure that your car is regularly serviced, that MOT checks are completed, and that you maintain proper insurance throughout the entire period of your loan. If any of these things do not occur for any reason, or if the value of your car decreases substantially due to damage or a mechanical failure, you should notify your lender.

Do V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

What is the repayment period?

Lending against your car can be quite flexible when it comes to the repayment period. The period or length of repayment available is 12 months, 18 months and 36 months. However, if you have got the means, you are allowed to pay off the loan early without incurring any penalties. The interest is charged on a monthly basis, which means that paying off the loan early results in reduction in the overall amount of money you repay.

If you still have any unanswered questions regarding borrowing against your vehicle then simply get in touch direct using the form you can see above. An advisor will call to discuss your requirements and answer any queries you have.