About logbook loans
Logbook loans are the best way to fulfil your dreams those have remained unfulfilled because of disapproval of your loan agreement. This is a kind of loan where the V5 document or the logbook of your vehicle is used as collateral against the amount of money you have raised for the loan. You can avail this loan if you own a vehicle, it is not mandatory that you have to be an owner of your house.
The only basic requirement to get this loan is that you have to submit your logbook which has all the relevant information regarding your vehicle like registration and model number of the vehicle, ownership rights, etc. The loan lender will just have the V5 document of your vehicle, but it is not that you have to handover it to the lender company. You can still enjoy the daily rides with your vehicle even during the loan period also.
Why choose logbook loans?
There are number of reasons that can convince you to opt for logbook loans, in addition, it is good to mention that the kind of flexibility logbook loan offers is hardly available with any other financial institutions. Now you will get some of the important points that why you should consider logbook loans during urgency.
- The entire procedure of money lending is possible through online and if the documents are verified that it offers you with fast approval than any other money lending system.
- For short term logbook loans also, you can have reasonable representative APR interest rates.
- Credit past won’t be a hurdle for availing logbook loan.
- Most of the loans are offered with hidden cost and unusual financial tricks, but logbook loans don’t have any of them.
- Borrowers can choose their own repayment schemes as per their flexibility and convenience.
Who can apply for this loan?
Application of this loan is not a big deal as it is already mentioned that it requires your 2-3 minutes online to submit the form. In order to get this loan, the borrower has to follow certain criterions, and they can be summed up in the following manner:
- The first and the foremost criteria to get this loan is that the applicant must be 18 years old.
- The vehicle against which the borrower is applying for the loan must be not more than 8 years old.
- The vehicle must have all the taxes paid, and it should be free from other financial obligations.
- The applicant must have the MOT certificate.
So, if you are having all these criterions, then you can easily apply for logbook loans from Logbook Lender.
How you can apply for logbook loans?
The entire procedure for the application of logbook loans is very easy, and it is also very easy to understand. All you have to do is that just sign an agreement known as bill of sale in which it is stated that until you are not repaying the amount of loan your vehicle will be owned by the lender.
After that once your application is approved you will get your money within 24 hours. For more help you may also refer to logbooklender.co.uk.If you think that this post is very relevant for you then you can also share this with your friends on Facebook, Twitter, and other social media to help them with best money lending solution.