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Expert Logbook Loans in Mynachdy

Enquire Online Today! - 17 Oct 2019

logbook loans Mynachdy

Logbook Loans Mynachdy


If you need quick cash then Mynachdy logbook loans are for you

Mynachdy logbook loan quotes

Stay mobile whilst lending the money you need for whatever you need. You can borrow up to £50,000 while keeping on the road. If your car is finance-free then there’s a good chance you could even receive your loan within 24 hours!

Now one of the most popular loan types available, Mynachdy Logbook Loans let you bypass the usual credit checks and annoying hoops to jump through. They could be the perfect lending solution if you have had a loan application refused in the past.

Your loan can even be used for any reason you like... with complete flexibility with the finances you could pay off some debts, boost your cashflow or even treat yourself to a holiday, the choice is yours!

No commitment necessary: The quote you receive for your loan is completely obligation-free, so why not just find out the amount available to you?

Poor credit history? Your credit may not affect your application, so if you’ve been thwarted before by other loans then this may not be an issue!

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!

Apply online in 60secs: Applying for your Mynachdy Logbook Loan quote takes just a minute and couldn’t be simpler.

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.

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.

Fortunately it’s simple to apply for Mynachdy Logbook Loans with our site, you only need to fill-in our online quote application form with some basic details about you and your car, a loan provider will then get in touch direct to discuss your needs and to provide a free no-obligation quote.

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

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Mynachdy V5 lenders. Many other Cardiff companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Mynachdy

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in Mynachdy and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check Mynachdy 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 Cardiff

Self-Employed - Do I Qualify?

It has long been a problem for the Mynachdy self-employed to qualify for any type of loan as most Cardiff lenders look for a more regular income when deciding whether to lend. When you use something as security, such as your car against a loan, you may find that you are now eligible to borrow as there is less risk to the lender. You still need to be able to prove that you can afford the repayments however as part of responsible lending.

Mynachdy business v5 loans

What About Companies?

Mynachdy 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 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

Online Loan Calculator

Our online calculator lets you input your car’s approximate value and loan percentage to get an idea of the total loan amount.

7000
80%

£5600

FAQs

If you have any questions regarding any element of Mynachdy 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.

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.

What documents do I need to apply?

When you enquire about a loan, lenders do their best to not only prevent fraud, but also to reduce risk. For this reason, you will need several different documents. Your government-issued ID, a copy of your logbook, proof of insurance, a utility bill for proof of Cardiff residency, a current MOT, and proof of income are all requirements when you enquire. Make sure you have the most recent versions of these for the best chances of being approved.

What makes Mynachdy 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 Mynachdy v5 loans can be a great idea. Get in touch to find out more.

I’m unemployed... can I get a Logbook Loan?

One requirement of taking out Mynachdy V5 Loans is that you can prove to the lender that you can afford the repayments. It’s part of a responsible lending approach that helps ensure you do not default on any loan payments. Therefore if you’re in Cardiff and unemployed, but can still prove you can afford the repayments then you may be eligible for a loan.

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 Mynachdy 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 Cardiff 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 income proof, is that a problem?

In order to qualify for your Mynachdy car logbook loan, you need to prove you will be able to make the loan repayments as stipulated. Being self employed or unemployed might not stop you from getting approved, as long as the loan lender can see that you’ve the ability to cover your logbook loan payments. However, you should fill in the above form to hear from an advisor about the available loan options for you.

Who is responsible for general car maintenance?

Although the loan is secured with your car, you get to keep your car throughout the duration of the loan as long as you make the payments on time as agreed. Because the car stays in your possession, it also stays under your car. You will be required to have regular MOT checks, to have the car serviced, and to maintain insurance on the car at all times. If you do not, or if anything should affect the car’s value (other than normal mileage and wear and tear), then you should contact your lender.

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 are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Hopefully these FAQs should have answered any questions you had regarding taking out a loan against your car, but don’t worry if you still have unanswered questions... simply get in touch via the form and speak direct to an advisor.