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Quick Logbook Loans in Tongwynlais

Enquire Online Today! - 17 Oct 2019

logbook loans Tongwynlais

Logbook Loans Tongwynlais

Tongwynlais logbook loans can unlock the value in your car

Tongwynlais logbook loan quotes

If you need to stay mobile, but want to lend from £400 up to £50,000 then borrowing against your vehicle is an option. Your money can even be delivered in less than a day providing the criteria is met and there is no finance on the car.

Tongwynlais 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 you applied for and been declined a loan in the past? You may have found the very answer you’re looking for.

Your borrowed funds can be used for any purpose too... how about clearing some other debts, or putting some money aside for a holiday? The choice is entirely yours to do what you like with the money.

No-risk quotations: There’s no risk involved in getting a free quote as you never have to commit. Find out how much you could borrow today!

Poor credit? You can still qualify for a loan if your credit history isn’t perfect as V5 loans are one of the most accessible types of loan.

Continue driving: Keep driving your car for the entire loan period whilst still enjoying the money you borrow with a Logbook Loan.

Apply online: Simply take a minute to complete our online quote application form to apply for your Tongwynlais Logbook Loan quote.

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.

Loan periods to suit you: Your loan can be tailored to suit your needs. Just chat to the specialist to see what options are available to you.

Thankfully applying for Tongwynlais Logbook Loans is a simple process, just tell us about yourself and your vehicle using our quick online application form, a Logbook Loan specialist provider will then contact you to discuss your lending requirements further.

Get your free quote today to see how much you could lend with Tongwynlais 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 Tongwynlais 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 Tongwynlais

Prestige, Vintage & Classic Vehicles

Any proud Tongwynlais 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 Tongwynlais logbook loans

No Credit Check Logbook Loans?

All logbook loan applicants are actually credit-checked, making this a popular misconception. It has been brought about because a V5 lending is often more attainable for those with poorer credit scores as a car is used as security throughout the loan period. Having a credit check shouldn’t put you off from enquiring however as you may well be eligible to borrow the money you need, so why not find out today!

loans for self employed in Cardiff

Self-Employed - Do I Qualify?

It has long been a problem for the Tongwynlais 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.

Tongwynlais business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Tongwynlais companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

Example Lending Amounts - From £400 to £50,000

Whatever the age of your car, you can borrow up to 80% of the current market value. The minimum loan amount is £400 up to a maximum of £50,000! A V5 loan covers most lending requirements. Take a look at the table below to see some example lending figures:

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

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Tongwynlais applicants.

How exactly do Cardiff Logbook Loans work?

A loan using your V5 document is a loan that’s secured on your car, so the lender owns your car until you repay the loan. When taking out a loan of this type, you’ll be asked by the lender to hand over the car’s V5 registration document or logbook. You can keep using your car as you repay the loan. You won’t get the logbook back until you have cleared the debt. If you default on the loan payments, your car can be seized by the lender.

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.

Are Cardiff V5 Logbook Loans a good idea?

If you’ve a bad credit history, and you’re unable to obtain a loan via the more conventional means, like a bank, you should consider enquiring about a loan against your car. Although they still require credit checks, Tongwynlais residents with bad credit history can apply and might still be eligible for a loan. As a matter of fact, your loan application is normally considered approved provided you’re eligible, and you meet the few loan requirements. You can actually get approved very quickly, and at times even get money on the same day.

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 Tongwynlais loan application, simply enquire online using the form on this page.

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

If you’ve got a bad credit profile and you are looking for Tongwynlais 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 Tongwynlais 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.

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.

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.

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.