log book loan is the loan in which the logbook of your car or truck is used as a collateral against the loan amount. All these are procured loans in character but without maintaining your home on threat. If you’re an owner of automobile, you are able to avail this loan if you’re a renter or a homeowner.
Log book loan demands that the logbook of your automobile that contains all of the information regarding the vehicle including telephone amount, amount of vehicle along with its possession paper etc.. The lender retains the logbook just and you are able to relish your automobile with you along with loan amount.
Such loans are short-term loans that are utilised to seek out the brief term financial demands. The period of time for these loans is normally 18 months but it may also be obtained for extended period . Being a secured loan, it’s available with lesser APR..
When these loans have been availed??
Log book loans are a best way to get cash quickly, with no hassle of charge check. Such loans are availed to satisfy your requirements successfully. The demands for example to combine your debts, repair your home or car, high medical bills, electricity bills or other personal expenses could be fulfilled through such loans.
The valuable attributes of log book loans
A simple online application with quick approval Credit history doesn’t come as a barrier when offering log book loan Available with affordable APR Really Simple and hassle free loan to avail Comfortable and flexible repayment terms no hidden price and tips
The most crucial quality of this loan is that you’re able to delight in exactly the identical car that you’ve stored as a collateral. You are able to use your car through the loan period.
Could I apply for this loan?
All of you who fulfill the following eligibility standards may avail log book loan. The applicant must be at least 18 years old and a citizen of United Kingdom You ought to have an active bank accounts The vehicle that You’re placing as a safety Shouldn’t Be more than 8 years old It Needs to Be taxed and free from other obligations Your vehicle Ought to Be passed the MOT test