Log book loans are a form of secured loan where the value of the loan is secured against your car. You hand the log book of your car over to the lender but you retain possession of your car. Once you have repaid your loan repayments you will receive the log book back. Log book loans can be a very beneficial way for anybody to get a loan regardless of your credit history. Logbook loans 247 offer short term logbook loans that are paid back within 1 to 7 months. The quicker the repayment, the lower the interest rates.
Log Book Loans for You
You must be the registered owner and keeper of the vehicle. As such, your name must be the one that appears on the log book or v5 document. This prevents people from borrowing money or using anybody else’s car as collateral. Make sure the details on your log book are correct before you try proceeding with log book loans.
Requirements for Log Book Loans
The car itself should be less than 10 years old with no financial claims against it to apply for log book loans. This means that if the car is part of a hire purchase agreement then it is not suitable as security in a log book loan. Similarly, if there is another outstanding log book loan using the same car security then a second loan will not be offered.
The car needs to be under 10 years old in order to ensure that it holds value for the period of the loan. Cars older than this are more susceptible to breakdowns. The age and value of the car will also help determine how much you can borrow when looking at getting log book loans.
Log Book Loans - Cars As Collateral
Logbook Loans 247 offer simple short term loans to anyone who owns a vehicle. We secure our log book loans against your car thus minimizing our risk and maximising the loan amount you are eligible for. As we use cars and other vehicles as collateral, we are able to offer our log book loans to eve those who have poor credit history, providing that they meet our criteria.
Emergencies
Logbook Loans 247 offer our log book loans immediately after you are accepted. This means that you can use our loans to quickly solve any financial emergencies such as vets bills, illness and the like. Our application process takes no more than a few minutes and we can pay your loan the very same day if you are accepted. The whole process of getting log book loans with Logbook Loans 247 is many times faster than doing so via other channels.
Up To £50,000
As we use your car as collateral, we are able to offer those with expensive vehicles, significantly larger loans. If you take out an unsecured loan or have a poor credit history then you will typically only be eligible for a modest sum. At Logbook Loans 247, however, we can offer loans up to a maximum of £50,000 which makes us the first port of call for anyone who is looking to secure a more substantial loan without having to worry about using their home for collateral.
For more information, visit logbook loans 247 online
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