Logbook Loans Loan Based On Your Car

Logbook Loans Loan Based On Your Car



Logbook loans: loan based on​ your car
Log Book Loans are established as​ the​ innovator of​ secured vehicle finance .​
So,​ what exactly is​ a​ log book loan? … the​ logbook loan requires the​ borrower to​ keep the​ logbook with the​ lender until the​ loan amount has been repaid in​ full.
Logbook is​ the​ document issued by Driver and Vehicle Licensing Agency (DVLA) .​
Logbook has several entries about the​ vehicle relating to​ the​ current registration mark,​ VIN number or​ the​ chassis number,​ and details about the​ registered keeper of​ the​ logbook.
Logbook loans are the​ easiest way to​ get money by keeping logbook as​ security .​
As,​ Collateral for logbook loans is​ the​ logbook of​ your car .​
Anyone who has logbook loans registered in​ their name is​ eligible for logbook loans .​
Depending on​ the​ lender and the​ vehicle,​ the​ amount of​ logbook loans can stretch to​ larger amounts .​
Logbook loans are available for amounts ranging from £500-£50,​000
.​
For getting logbook loans approved the​ car or​ vehicle must be ideally less than 8 years old .​
Along with that the​ logbook must be in​ the​ name of​ the​ borrower,​ regular income and there must be no financial claims on​ the​ vehicle .​
All the​ Taxes and insurance due on​ the​ vehicle must be paid in​ full before the​ vehicle logbook is​ pledged for logbook loan .​
While the​ car or​ vehicle may continue to​ be in​ possession of​ borrower,​ it​ is​ the​ logbook that is​ kept by loan provider for the​ period until which loan is​ repaid .​
However,​ borrower cannot save himself from the​ obligation to​ maintain the​ vehicle in​ good condition .​
Logbook loans are secured on​ the​ logbook of​ the​ borrower’s vehicle therefore logbook loans is​ that it​ does not involve credit check .​
So,​ whatever may be your credit rating you​ need not worry,​ you​ are eligible for a​ logbook loan if​ you​ meet the​ above criteria .​
Problem cases such as​ people who have faced CCJs,​ bankruptcy can also apply for this loan .​
You can take logbook loan for purchase of​ assets and consumer durables,​ to​ buy a​ washing machine or​ renovate your house,​ tax saving investments,​ higher education,​ vacations,​ emergency medical needs...in short,​ for any declared legal use.




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