Borrow from £100 to £25,000
- Apply For £ 50 - £ 1,000
- Fast Payout
- No Fees
- Secure Application
- Available 24/7
- Bad Credit
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: £500 borrowed for 5 months. Total amount repayable is £991.85 in 5 monthly instalments of £198.37. Interest charged is £491.85, interest rate 236.1% pa (variable). Representative 481.6% APR.
Taking Out Car Logbook Loans: Important Points to Consider
Car Logbook loans are one of the better options that you might want to consider when you’re looking for a reliable means to get quick cash. Taking out these loans is relatively easy since your car’s logbook or V5 document is typically enough to secure you a comfortable financing from a reputable lender. What’s more, unlike traditional loans from major banks that could take a whole week to process, obtaining this loan will take less than a day to accomplish making it a viable solution to urgent financial needs. So if you are stripe of cash and you have an emergency that needs to be financially covered immediately, you might want to explore what a logbook loan has to offer.
Ideal Solutions to a Wide Range of Financial Needs
Indeed, logbook loans are one of the best solutions in obtaining instant cash to address a certain financial need. If you are caught up in an unforeseen event and you need money right away, you can turn to a reputable logbook lender who will be more than happy to find you a loan service that suits your current situation. Generally, these loans are readily available for a wide range of financing needs such as:
To cover an important debt and avoid incurring penalties from missed payments
To finance home repairs and improvements
To address emergency situations and unexpected expenses like medical bills
To finance a major purchase.
You can take out the loan and get cash instantly to deal with any of the financing needs mentioned above. But whatever it maybe, it’s up to you on how you will spend your money and a logbook lender will give you all the freedom you need in using your loan.
Availing from a Reputable Lender
Unfortunately, the logbook loan industry is not exempted from bad business practices and there are lenders who have been documented to take advantage of unsuspecting borrowers through devious and exploitative loan terms and deals. Nevertheless, the good lenders still greatly outnumber the bad and there are still numerous companies that maintain high ethical standards committed to meeting the following practices:
1.) Offer just, truthful, and professional services to customers of all walks of life
2.) Costumers are provided with information, whether verbally or in written, that are:
Appropriate and Accurate
Easy to understand and comprehend.
Provided in a clear and plain language
Relevant to the loan service suited to your present circumstances
Highlighted to the most vital details of the loan and ensures that the costumer has complete knowledge and understanding on them
3.) Display genuine respect and consideration to different customer needs. In the event of complaints and misunderstandings, the lender will work accordingly with the concerned borrower to find an effective solution without any fuss.
4.) Provide customers with a reliable means of communication, to cater any and all customer needs and concerns, anytime of the day.
Can you Qualify for the loan?
If you are convinced that taking out a logbook loan might be the ideal solution to your current financial situation, then you might want to know if whether or not you are qualified to avail the credit. First you must meet an important requirement which involves having a roadworthy vehicle to offer as security for the credit. If you don’t have one, then you are better off taking other short-term loan options like payday loans. However, if you have a private, commercial, or passenger service vehicle, whether it is a car, motorcycle, or van, that have legal documentations, the other requirements that you will have to provide will normally include:
A clear Copy of your personal ID
Certified Bank Statements for the previous months ( will vary from lender to lender)
Passport Size Photograph of You
The Vehicle’s logbook or V5 document
Vehicles Insurance Details
Proof of Income through payslips (For Employed Applicants)
Once you have met all these requirements, an approval response from your lender is relatively quick and afterwards you will receive the money that you availed for through bank transfers typically in the same day that you made your application.
Indeed, with its relatively quick payouts and flexible lending amounts, log book loans are one of the viable solutions that you can use to cover a wide variety of urgent financial needs and circumstances. Just make sure that you are dealing with a reputable lender, however, to avoid falling prey to exploitative lenders and loan terms. And while it is readily available to different borrowers of all walks of life, there are still some requirements that you need to meet in order to become eligible for the loan. Once you have provided the necessary requirements though, getting the money that you need is guaranteed quick and convenient.
What Do I Need To Do For Logbook Loans?
*Subject to lender approval and requirements.