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First-Class Logbook Loans in Cwmfelin

Enquire Online Today! - 11 Aug 2022

logbook loans Cwmfelin

Logbook Loans Cwmfelin


Looking for quick cash? Cwmfelin logbook loans are for you

Cwmfelin logbook loan quotes

Lending against your car is the ideal solution if you need £400-£50,000 plus the continued use of your car. Often, you can receive your loan amount in under 24 hours providing your vehicle has no finance attached!

If you don’t want to jump through hoops and undergo credit checks to get your loan then Cwmfelin Logbook Loans are perfect for you. Have any of your previous loan applications been refused? If so this could be the loan for you.

What’s more the money you release can be used for anything you like... why not clear some debts, book a holiday or simply give your cashflow a boost. Logbook Loans let you access the funds you require very quickly.

Risk-free quotes: Get a free no-obligation quote to see just how much you could release from the value of your car without having to commit.

Refused loans before? Have you been refused a loan elsewhere due to a bad credit history? No need to worry with a Logbook Loan.

Keep mobile: There’s no need to stop driving for the loan period. Not only can you loan money, but you can continue driving your car throughout the loan!

Apply online in 60secs: Applying for your Cwmfelin 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 loan periods: Your V5 Loan can be tailored to fit in with your lifestyle and budget, chat with an advisor to see how you can make it work for you.

It couldn’t be more straightforward to apply for Cwmfelin Logbook Loans, just use the online form on this page to tell us a little about yourself and your vehicle, you will then be contacted by a specialist to discuss your lending needs further.

With a free Cwmfelin Logbook Loan quote available in no time at all, why not apply online today to see how much you could borrow?

logbook loans for older cars

Logbook Loans For Older Cars?

Other Cwmfelin logbook lenders might limit the age of an eligible vehicle to just 8 years, but we base our loans on the value of the vehicle itself. That means even if your vehicle is slightly older it could still be eligible for a loan against it. With lending amounts from £400 up to £50,000 there’s a good chance that your vehicle will qualify and you will be able to lend against it. It’s simple to find out if you can borrow against an older vehicle, simply apply online.

loans against classic, vintage and prestige cars in Cwmfelin

Loans Against Classic Cars and Prestigious Models

Aston Martin? Porsche? Bentley? Rolls-Royce? If you are the proud owner of a prestigious or classic/vintage car in Cwmfelin then you coud still get a V5 loan. Loan amounts are based upon the current value of your vehicle, so as long as you meet the eligibility and affordability requirements you could get a loan. Enquiring to borrow against a prestigious or classic car is the same straightforward process as any other car.

no credit check Cwmfelin 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 Merthyr Tydfil

Self-Employed? You Could Still Borrow

Most Merthyr Tydfil lenders want proof of regular income which makes it very difficult for the self-employed in Cwmfelin to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

Cwmfelin business v5 loans

What About Companies?

Cwmfelin 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.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

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 Percentage Calculator

It’s simple to use our online loan calculator... just use the sliders below to set your car value and loan percentage.

7000
80%

£5600

Your Questions Answered

Though applying for your Cwmfelin logbook loan is a straightforward procedure, we’re sure that you have a number of questions regarding the process so have compiled a series of answers below to the more common queries.

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.

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, Merthyr Tydfil residency, and income – and they’ll need it to get you approved.

Why are Logbook Loans a good idea?

They are often a good type of loan for Cwmfelin borrowers with bad credit scores because they consider all credit hostory. If other loan lenders refuse to offer or give you a loan because of your current credit score, why not apply for a V5 loan? If you own a car and want a loan that considers all applicants, Merthyr Tydfil V5 document loans could be the perfect solution. With this type of loan, you do not even have to go through the long and arduous processes you’d have with the banks.

Can unemployed persons secure a Logbook Loan?

To be eligible for Cwmfelin loans against cars, you need to own a vehicle that’s registered in your name (or very nearly own it on finance). A perfect credit history and full employment status are not always a strict requirement, however, you must be able to provide proof that you will be able to make the repayments on your Merthyr Tydfil loan, without delays. It’s part of a responsible lending culture amongst lenders.

Does my poor credit score matter?

Even if you have a poor credit score, you may still be eligible for a loan as long as you have a car which you can use as collateral. Even though you will still have to undergo a credit check, your chances of securing a V5 loan could be good. To qualify, you also need to be a registered citizen, be of sound mind, be of the legal age, and own a car that’s legally registered in your name.

Is it a problem if I can’t prove my income level?

In order to qualify for Cwmfelin logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Merthyr Tydfil V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

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 HPI checks show Logbook Loans on them?

All HPI checks should show loans against the vehicle on them as a ’Bill of Sale’ agreement as Merthyr Tydfil lenders are required to register them with companies such as HPI. If you have carried out a HPI check and later find that there is a loan attached to your new vehicle then you are covered by a HPI guarantee which will reimburse you up to a maximum of £30,000.

What are the repayment terms for the loan?

Borrowers generally get the option of tailoring their repayment plans according to their budget and needs. The standard repayment terms starts from 12 months to 36 months with an option of 18 months if needed. The interest is usually charged on a monthly basis, but if you repay the loan early, you will not incur any extra charges.

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.