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First-Class Logbook Loans in Penygraig

Enquire Online Today! - 24 Jan 2022

logbook loans Penygraig

Logbook Loans Penygraig


Need fast convenient cash? Penygraig logbook loans are the answer

Penygraig logbook loan quotes

Borrow money against the current value of your car and lend from £400 to £50,000 whilst still driving it! The money can even be yours in less than 24 hours providing your car doesn’t have any finance attached to it!

If you don’t want to be jumping through hoops and carrying out embarrassing credit checks then Penygraig Logbook Loans are a popular choice. If other loan types have refused your application recently, then this could be the answer to your money lending needs.

You can even use your loan for any purpose you like... 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.

Obligation-free quotes: Why not find out just how much you could borrow against your car by getting yourself a free no-obligation quote?

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

Keep your keys: Your car remains in your possession so you can drive it as normal throughout your loan period.

60sec application: Apply online for your free Penygraig Logbook Loan quote in just a minute with our online application form.

Any purpose: No matter what purpose you need a loan for, your borrowed money can be spent however you wish... on debts, holidays, cashflow etc.

Loans that suit you: If you need to lend money over a longer duration then speak to the specialist who can factor in your own specific needs.

Thankfully our website makes it easy to apply for Penygraig Logbook Loans, our application form takes just 60 seconds to complete and that’s all you need to do, we will then arrange for a loan provider to get in touch with you to chat about your money lending needs.

Why not apply online today to find out just how much you could lend with Penygraig Logbook Loans.

logbook loans for older cars

Older Cars Are Eligible Too

Loans against logbooks aren’t just for newer cars. Though some Penygraig lenders only let you borrow against cars under 8 years old, the Rhondda Cynon Taf lenders on our network look at the value of your car and so consider older cars for a loan too. The simple way to determine if your car qualifies for a V5 loan is to simply complete the form you can see further up the page choosing your vehicle make, model and year from the menu.

loans against classic, vintage and prestige cars in Penygraig

Borrowing Against a Classic or Prestigious Vehicle

Penygraig owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Penygraig logbook loans

No Credit Check Logbook Loans?

It’s actually a misconception that you can get a loan against your car without having your credit history checked. In actual fact all applicants undergo credit checks. The fact that your car is used as security however often makes this type of loan more attainable than others so they can be popular with people who have less than perfect credit scores. You may find this type of loan an ideal solution if you have been refused a more traditional loan.

loans for self employed in Rhondda Cynon Taf

Self-Employed - Do I Qualify?

It has long been a problem for the Penygraig self-employed to qualify for any type of loan as most Rhondda Cynon Taf 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.

Penygraig business v5 loans

Looking for a Business Loan?

Are you interested in a logbook loan for your Penygraig business? It’s certainly possible to enquire with lenders about business loans, though they do have a few requirements. The car used as security will need to be in the name of the enquirer, or if it is registered in the company name, then the enquirer’s name should also be included in the company name. For example, John Davis may be able to obtain a logbook loan if his car is registered under Davis Contracting. Check with your individual lender for more information.

Release £400 - £50,000 From Your Vehicle

Below you can see a table of typical lending examples based on 80% of your car’s current value. The lending range can be anything from £400 up to £50,000 which should cover most borrowing requirements. Get in touch to see how much you could borrow:

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

Penygraig Loan Calculator

Slide the car value and loan percentage sliders to see how much you could lend against your car in Rhondda Cynon Taf.

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 Penygraig applicants.

How Logbook Loans work

If you own a car and live in Rhondda Cynon Taf, you could be eligible to borrow against your vehicle. Your car has value, and the v5 document can let you obtain cash against that value. During the set duration of the procured loan, the car basically acts as the security for the loan given; this means that the lender gets to keep your car’s logbook until you complete repaying the loan. They technically own the car for the entire duration of your loan. This protects the lender should any payments be missed. The lender has the legal right to auction the car to recoup his/her costs.

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 Rhondda Cynon Taf residency, along with payslips or bank statements that show your income.

Are Rhondda Cynon Taf 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. Rhondda Cynon Taf 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 Penygraig V5 Loans a great idea for many.

Unemployed but want a Logbook Loan... is this possible?

Penygraig residents that find themselves unemployed but still want to take out a loan gainst there vehicle have to meet certain criteria in order to be successful. For instance you have to prove that the monthly loan repayments are affordable in order to avoid arrears and the possible loss of your car. Responsible Rhondda Cynon Taf lenders won’t grant loans to those who cannot afford the repayments. To find out more simply get in touch today!

I have a poor credit score... can I get a loan?

Quite possibly yes! In fact Rhondda Cynon Taf lenders could be more accepting of those with less than desirable credit scores as your car’s V5 document is retained as security making it a lower risk loan for the lender. It’s important to realise that all Penygraig applicants are still credit checked, but may find this type of loan more accepting than others.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Rhondda Cynon Taf 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 Penygraig 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.

Who should maintain the car during the loan?

When you enquire about a loan, you will be asked to provide proof of insurance. Throughout the duration of the loan, it will be your duty to keep that insurance paid and up-to-date. All maintenance falls on you, the owner of the car. Remember that you will have access to your car throughout the loan period, so MOT testing and servicing will continue to be your responsibility. Although some general wear and tear during the loan period is to be expected, the car should be maintained to roughly the same value as the agreed-upon loan. If changes that significantly reduce this value should occur, it is important for you to notify the loan company right away.

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 Rhondda Cynon Taf 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.

How long are the loan repayments?

Logbook lending repayment periods can take up to 36 months, which means that you get to spread the repayment for a long period of time. You can decide to make your repayments based on the schedule you’re comfortable with. You can choose the 12 months repayment period, the 18 months repayment period or the 36 months repayment period. Also, if you choose to repay the loan early, you will not be penalised.

We hope these FAQs have answered any queries you may have had and that a logbook loan is the right choice for you. To find out even more, and get a free quote simply get in touch by completing the form on this page.