How Our Loans Work

Application
Llangollen Loans clients are welcome to make a loan application through a simple process. You are expected to provide the required basic information through our online application form. It takes a minute or two to fill the required details thus our simple application process.
Approval
Once the application has been submitted, assigned company staff takes over the form to go through the details given. The basic information is used to distinguish eligible candidates from those who do not qualify. The staff looks into the details sent in and assign applicants a loan advisor to take one through the loaning process.
Verification
Once the application has been approved, you will get a call for verification purposes. This one will inquire more information regarding the loan you want to take up and your repayment ability. Based on the value of the vehicle, you will be given information regarding the sum of money you can borrow against the car. Your repayment ability will also determine the amount that you can borrow. The company is keen on giving loans that borrowers can pay to curb cases of default.
Appointment
With this completed; the appointment process proceeds. This requires an applicant to provide documents that will support the information that had been provided. These usually include the car documents as well as personal identification documents. These documents will be examined to certify that all information provided was accurate.
Signing
With the test passed, the signing process follows. Once the applicant is satisfied by the offer given, the appropriate paperwork is signed and the borrower has access to the money needed. The loan amount is usually disbursed to the borrower’s account after the signing process.
Repayment
The loan repayment comes after the borrower has received the loan amount. Due to different client needs, individuals receive personalized repayment terms and programs. The repayment installment and dates are usually agreed upon before the money is given. The borrower needs to repay as per the agreement. Usually, the repayment installment is automatically deducted from the borrower’s account once the due date has been reached.

All that Llangollen Loans keeps is your personal information and your V5 documents. Taking a loan from us means that you still get to keep your car and enjoy all the services that it has to offer. We do not get to retain a client’s car as long as the loan is repaid well. However, there are cases where clients could default on a loan. In such cases, we are legally permitted to take possession of the car and sell it to regain the loan balance owed.