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Easy Logbook Loans in Abercanaid

Enquire Online Today! - 15 Dec 2018

logbook loans Abercanaid

Logbook Loans Abercanaid


Abercanaid logbook loans can unlock the value in your car

Abercanaid logbook loan quotes

If you want to borrow money whilst remaining mobile then read on... you can lend up to £50,000 whilst still driving your car! 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 Abercanaid Logbook Loans. Have any of your previous loan applications been refused? If so this could be the loan for you.

It doesn’t matter what you want to do with your money... whether you have some debts you’d like to clear, need a cash boost or would like a new holiday Logbook Loans can provide you with money almost instantly.

No-obligation quotes: Why not join hundreds of others who apply for completely obligation-free logbook loan quotes to see how much they can borrow.

Hassle-free application: In order to qualify for a Logbook Loan you won’t need to jump through hoops unlike other loan types.

Stay mobile: You can stay on the road and keep your car keys throughout the duration of a Logbook Loan whilst still borrowing money!

Apply in seconds: It won’t take more than a minute to complete our online quote application form to get your free Abercanaid Logbook Loan quote.

Any use loans: A Logbook Loan can be used for whatever purpose you like. The money you receive can be spend entirely as you wish, on whatever you want.

Personalise your loans: Discuss your individual lending requirements with a specialist to see just how a Logbook Loan can suit your needs.

It’s really easy to apply for Abercanaid Logbook Loans too, all we need is some basic information about you and your car which you submit via our short online form, a loan expert will then get in contact with you direct to speak further about your Logbook Loan application.

Free quotes for Abercanaid Logbook Loans are just around the corner, so apply online today to see how much you can lend!

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 Abercanaid lenders might limit the borrowing to cars under 8 years of age, the lenders on our Merthyr Tydfil 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 Abercanaid

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 Abercanaid 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 Abercanaid 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 Merthyr Tydfil

Refused a Loan Due To Self-Employment?

If you’re self-employed then you may well have been refused a loan elsewhere as most Abercanaid 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 Merthyr Tydfil 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.

Abercanaid 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 Abercanaid 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.

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

Loan Value Calculator

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

7000
80%

£5600

FAQs

If you have any questions regarding any element of Abercanaid 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.

How exactly do Merthyr Tydfil 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 will I need to apply?

You’ll need to provide several forms of documentation before you can successfully enquire about a loan. Of course, the most important of these are your valid photo identification and your V5 documents, or logbook, as these will prove that you are the rightful owner of the car you want to use as security. You should also bring a current MOT, proof of insurance, and a copy of your most recent utility bill (in your name) to prove your Merthyr Tydfil residency, along with payslips or bank statements that show your income.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Merthyr Tydfil logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Abercanaid. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can the unemployed secure a Logbook Loan?

Abercanaid 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 Merthyr Tydfil 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.

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 Abercanaid. 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 Merthyr Tydfil.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Merthyr Tydfil can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Abercanaid V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

Will a V5 Loan show up on a HPI check?

Logbook loans should show up on a HPI check. They show up as a Bill of Sale agreement, and it’s a requirement for Merthyr Tydfil lending companies to register them with companies like HPI. Nowadays, it’s very important to perform a thorough check on the car’s history. If you do a HPI check and a loan taken against the vehicle doesn’t show up, and you buy the vehicle, then you’re protected by the HPI guarantee which provides you with a financial 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 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.