Why use Logbook Loans
You will never like the idea of not being in control of your finances. However, there are some circumstances that are beyond your control. There are emergencies and accidents that happen without you being able to do anything about them.
What you can, however, control is your ability to take care of finances during and after such emergencies. Some people are lucky enough to have liquid cash available for such exigencies. What if you are not among such people? It doesn’t matter because you have an excellent alternative available in the form of logbook loans.
A logbook loan is beneficial for you no matter which way you look at it.
1. Quick approval – Getting an approval for a logbook loan can take all of one hour! Most of the logbook loans are approved and disbursed within 24 hours of application.
2. Flexibility – There is a lot of flexibility built into these loans. Your credit rating doesn’t control the whether your loan will be approved or not. It is your vehicle that decides how much cash loan you are eligible for. You can borrow any amount between £500 and £50,000 depending on the present worth of your vehicle.
You also have complete flexibility in repaying your loan. The duration of your loan can be anywhere between 12 months and 48 months. This duration differs from lender to lender. When you apply for a logbook loan using our service you will have this piece of information available. You can pay a small amount every week until the full loan amount plus interest is paid off. And if you are able to settle your loan early you are most welcome to do that. There are usually no pre-payment charges and you also save on the interest payment.
3. No Credit Checks – Your loan application may have been rejected by bank after bank, but you are still eligible for logbook loans. This is because your vehicle is considered as collateral for the loan. There are no credit checks done and you can use the money within 24 hours of applying for your logbook loan.
4. Your vehicle stays with you – Just because your vehicle is used as collateral for your logbook loan doesn’t mean it stays with the lender throughout the duration of the loan. All you need to do is submit the vehicle log book and that’s about it. You can continue to use your vehicle as you would normally do.
5. Peace of mind – Financial troubles can cause massive stress, both mental and physical. With logbook loans you need not worry about any financial stress. Apply for a loan and you can use the cash for any purpose – emergency or not. Just ensure that you keep repaying the loan and there would be no worries for you. Click here to get more details about the available logbook loan repayment options.