Log book loan may be the loan in which the logbook of the vehicle can be used like a security from the amount borrowed. They are guaranteed loans anyway but without keeping the home on risk. If you are a who owns vehicle, you are able to avail this loan regardless if you are a tenant or perhaps a homeowner.
Log book loan demands the logbook of the vehicle containing all the details concerning the vehicle for example modal number, quantity of vehicle and it is possession paper etc. The loan provider keeps the logbook only and you may enjoy your automobile along with you together with amount borrowed.
These financing options are short term installment loans which are utilized to search short term financial needs. The timeframe of these loans is usually 18 several weeks but it is also taken for lengthy period . As being a guaranteed loan, it’s provided with lower APR.
When these financing options are availed??
Log book loans are an easy way to obtain cash fast, without any difficulty of credit assessment. These financing options are availed to suit your needs effectively. The requirements for example to consolidate your financial obligations, repair your house or vehicle, high hospital bills, power bills or any other personal expenses could be satisfied with these loans.
The advantageous options that come with log book loans
A simple online application with fast approval
Credit rating doesn’t be a hurdle while availing log book loan
Provided with affordable APR
Super easy and straight forward loan to avail
Comfortable and versatile repayment terms
No hidden cost and methods
The most crucial feature of the loan is you can benefit from the same vehicle that you’ve stored like a security. You should use your vehicle throughout the loan period.
Can One make an application for this loan?
Everyone who satisfy the following eligibility criteria can avail log book loans.
You ought to be a minimum of 18 years of age along with a citizen of Uk
You ought to have an energetic banking account
The automobile that you’re putting like a security shouldn’t be greater than 8 years of age
It ought to be taxed and free of other obligations
Your automobile ought to be passed the MOT test
How you can apply?
The applying process with this loan is very easy. You need to simply fill a web-based application with needed details. You’ll be requested regarding your budget. When your application qualifies for loan, your hard earned money is going to be transferred in your money.
Log Book Loans are assumed because the ideal to take the reduced cost finance with no hurdle. These financing options receive on the need for of the vehicle. For anyone who’ve poor credit history, these financing options are the most useful choice. If you’re facing a bad credit score including default, arrears, personal bankruptcy or CCJs, logbook loans will help to obtain the needed amount promptly.
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