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Quality Logbook Loans in Penarth Moors

Enquire Online Today! - 25 Aug 2019

logbook loans Penarth Moors

Logbook Loans Penarth Moors


If you need quick cash then Penarth Moors logbook loans are for you

Penarth Moors logbook loan quotes

Did you know that you can access anything from £400 to £50,000 from the value of your car whilst still driving it? What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

Penarth Moors Logbook Loans don’t require you to undergo credit checks or jump through hoops unlike other loans, which is why they’re so popular! Have any of your previous loan applications been refused? It’s time to try this type of loan, which could be the perfect solution.

You can even use your loan for any purpose you like... Logbook Loans give you the flexibility to pay of other loan amounts, go on holiday or just release some cashflow if you prefer.

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?

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!

Stay mobile: You get to keep the keys to your car with a Logbook Loan, so you can keep on driving throughout the duration of the loan.

One minute application: Applying for your no-obligation Penarth Moors Logbook Loan quote can be done online and only takes a minute!

Your money to use: Spend your new loan on anything you fancy, from paying off other debts to buying a holiday you have complete freedom of choice.

Loan periods to suit you: Not all loan criteria is the same, so have a chat to a Logbook Loan specialist to decide what might be the best option for you.

It couldn’t be more straightforward to apply for Penarth Moors Logbook Loans, just complete our simple application form with some basic details about you and your vehicle, you will then be contacted direct to discuss your loan requirements and to provide you with a free quote.

Why not discover just how much you could borrow with a free Penarth Moors Logbook Loan quote today?

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Penarth Moors logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Penarth Moors

Prestigious, Classic and Vintage Cars

If you are a Penarth Moors classic car owner, or own a vintage or prestige car then you could still get a V5 loan. Based on the value of your vehicle you could borrow up to 80% of the current market value. So if you are the proud owner of a Bentley, Porsche, Maserati, Rolls-Royce or even a classic car then you can enquire in exactly the same way as any other car. Find out by enquiring online today.

no credit check Penarth Moors 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

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Penarth Moors lenders want to see a regular income. By using your vehicle as security against a loan, you may find that a logbook lender is more sympathetic to those that are self-employed in Cardiff as there is less financial risk involved. Being responsible lenders however means that they still need to be sure that you can afford the repayments each month.

Penarth Moors business v5 loans

Can a Business Get a Loan?

Logbook loans are available for Penarth Moors businesses as well as individuals, but it’s important to remember that not all lenders will work with companies. Those that do will likely ask that the car you use as collateral be registered in the enquirer’s name, or if the vehicle is registered in the company name, that the company name matches the name of the enquirer. This is done to minimize risk and prevent identity fraud.

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

Calculate Your Loan Amount

View the total loan amount you could be eligible for, up to a maximum 80% by using the sliders you can see below:

7000
80%

£5600

Penarth Moors V5 Logbook Loan FAQs

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

How do Cardiff V5 Logbook Loans work?

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

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.

Are Cardiff Logbook Loans really a good idea?

If you’re looking for some quick money, and have been refused a loan elsewhere then a V5 loan can be a good idea to release the funds that you need. Cardiff applicants with less than ideal credit scores often find that their loans requests are accepted and they can release the value in their cars. As your car is used as security against any repayments, then you’re more likely to be accepted than with other loan types, making Penarth Moors V5 Loans a great idea for many.

Can I get a Logbook Loan if I am unemployed?

If you have tried to apply for Cardiff personal loans at the mainstream sources like banks, and you have been refused you should consider applying with a logbook lender. Even if you are unemployed, you will still be considered. Penarth Moors Logbook lenders are interested in your current ability to repay the loan, which means even if you have a bad credit history and you are not employed, you might still qualify. You simply need to prove that you can afford the repayments so as to avoid extra charges, delays, and the possible repossession of your car.

I’ve got a poor credit score... does that matter?

If you’ve got a bad credit profile and you are looking for Penarth Moors loans, you may be able to borrow by using your V5 document as security. Such loans work on the idea that if you have a car, you can use it as collateral to obtain a loan. Because of this, Cardiff residents with bad credit score may still be eligible to secure a loan with V5 lenders, as compared to the more conventional Cardiff loan lenders. Moreover, the loan application process is simple, the necessary requirements are straightforward, and you can often get access to your money on the same day.

What happens if I can’t prove my current income?

Cardiff V5 lenders need to see proof that you can afford the monthly payments so you don’t risk going into arrears or even risk losing your vehicle. Being responsible lenders means only lending to Penarth Moors applicants that have the means to prove that they could afford to pay it back. If you think you might have trouble proving your income, then please get in touch to discuss the lending options that might be available to you.

Am I responsible for car maintenance?

As part of your loan agreement, it will be your responsibility to maintain your car’s value for the entire term. Lenders do expect some wear and tear (as well as additional mileage) since you will keep possession and use of the car, but you should report any significant damage, mechanical failures, or events that depreciate your car’s value significantly. In the meantime, it is also your responsibility to carry insurance at all times, to have regular MOT checks performed, and to have the car serviced.

Will a Logbook Loan show up on a HPI check?

An HPI Check is a car check which is provided by HPI ltd. which scrutinises the history of motorised vehicles that are registered in UK including vans, motorbikes and cars. The HPI check report alerts you to any kind of worrying information that’s held against the car by insurance or finance companies, the police, the DVLA, and such other industry bodies. A loan against your car will show as a Bill of Sale Agreement. If for any reason it doesn’t show on a HPI check then the HPI guarantee will offer reimbursement of up to £30,000.

What are the repayment durations?

You can choose to repay your loan in either 12, 18 or 36 month instalments. What’s more there is no penalty for settling your loan early so you could save money on monthly interest payments by repaying your loan sooner.

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.