Borrow from £100 to £25,000
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Whole of Market panel
Trusted panel of lenders
From £1,000 to £25,000
Rates from 5.7% to 278%
3-36 month repayment
Borrow up to £3,000
Rates from 278% to 1576%
3-12 month repayment
Representative Example: Cash price £7,500. Deposit £0.00. Total amount of credit £7,500.00.
60 monthly repayments of £137.22 Total charge for credit £733.20. Total amount payable £8,233.20. Interest rate 3.8% fixed. 3.8%APR Representative.
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5 great benefits of Online Logbook Loans
When it comes to short-term, secured financing, online logbook loans provide one of the most flexible applications and payment schemes available in the market. Your smart phone and an internet connection is all you need to avail for this type of credit and you can decide on weekly and monthly repayments schemes, whatever suits your need. What’s more, you have the option to spread out the duration of your loan to avoid getting much stress in your finances and you can even pay off the loan early, if you are financially capable of doing it, without incurring any form of penalty whatsoever. Truly, if you need cash right away, consider taking out these loans for yourself and enjoy its exclusive benefits.
1.) Straight Forward Application
The entire process of taking out this credit is relatively straight-forward. First, you need to have a road worthy vehicle, be it a car, van, or even a motorcycle, that is clear of any form of finance whatsoever. Once you have provided the proper documentations that prove your sole ownership of the vehicle, you will then have to prove your income or financial capability to make repayments to be more accurate, through bank statements or payslips. Once all these vital information are secured, the process becomes a whole lot easier. You will only then be required to fill in a few information relating to your address and personal ID.
2.) Reliable Payouts
Normally, logbook loan lenders are ready to lend you £250 to £50,000 worth of credit secured on a range of roadworthy vehicles in England, Wales, Northern Ireland, and Scotland. And if you wish to take out the money personally, you can look for nearby branches that the lenders will normally display in their websites. However, there is a cap on how much you can take out through direct walk-in payouts in branches. If you are looking to take out the maximum amount, bank transfers is normally the way to go.
3.) Flexible Terms
Depending on the lender, the loan can have a grace period of 36 months or more. The good thing about this loan, though, is that the length of term is generally flexible and it is up to you to decide on which one suits you the most, whether it is a several months or a few years. The amount of interest rate that you will incur will depend on the length of term that you choose for your loan. The longer the period, the higher the total interest rates will normally be.
To have the best interest rates in your loan deal, you might want to compare different lenders and the rates that they offer in their services. It will demand a certain amount of time and energy in your part, though, but doing so will reward you in more affordable interest rates and payments. Just take your time and you will surely arrive on a lender that will provide you with the best deal.
4.) Confidentiality Assured
The vehicle you put on as collateral is more than enough to secure you a loan from log book lenders. There is no need for a guarantor to co-sign the agreement, ensuring that the terms and conditions of the deal is between you and the lender alone. The lender will not also contact your employer or anyone outside the loan even if it is a close family member, ensuring complete confidentiality in your behalf. And in the event that there will be a need to contact them, the lender will typically let you know beforehand. And what’s more, you can carry on your normal life and still be able to drive your car even if you have used it as collateral so long as you make your repayments.
5.) Instant Money Payouts
Another great perk about this type of loan is its instant payouts. More often than not, the entire process of taking out a log book loan can be completed in less than a day and even in few hours. Once your application is approved, the money will be automatically transferred into your account within an hour of your appointment. As long as you meet all the necessary requirements, you can get the money very quickly and cover a financial emergency effectively. No need to post documents and waiting for hours for a response. It really is a good way to get an instant loan online!
So if you’re looking for a reliable loan that offers easy and convenient applications, reliable payouts, flexible payment terms, confidential transactions, and instant money payouts, taking out a logbook loan online might be the right one for you and your financial needs.
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*Subject to lender approval and requirements.