Logbook Loans: Use The Power Of Your Vehicle's Paper
- Date: 2008-09-23 - Word Count: 271
Share This!
Logbook loans mean that the people are using their car as an apparatus to avail the finance from a financial institution. If a borrower does not have any property to borrow a loan and an unsecured loan is charging high rate of interest which is not suited to the borrower, then the logbook loan is the best option available to the borrower.
Logbook in legal terms is the registration form V5. It has entries relating to the current registration mark, details regarding the registered keeper of the logbook, VIN or the chassis number. This loan requires the borrower to keep the logbook as collateral with the lender till the entire loan amount is repaid. However the borrower must fulfill the following basic conditions while applying for such loan:
• The vehicle has to be less than 8 years old.
• Taxes, insurance and car loan amount, if any, should be paid in full.
• The borrower should have a regular income.
• Before the loan is approved, the vehicle should have cleared the MOT test.
• Last but not the least; the borrower must be the owner of the logbook.
Logbook loans can be approved on the same day of application and the money is also transferred to the borrower's bank account. Online application has made it easier for an individual to apply for such loan. The advantage of a logbook loan is that there is no credit check and so if any borrower who has been refused a personal loan due to bad credit history, can easily avail a logbook loan. Maximum loan amount can be £50,000 and repayment tenure depending on the agreement between the borrower and the lender.
Logbook in legal terms is the registration form V5. It has entries relating to the current registration mark, details regarding the registered keeper of the logbook, VIN or the chassis number. This loan requires the borrower to keep the logbook as collateral with the lender till the entire loan amount is repaid. However the borrower must fulfill the following basic conditions while applying for such loan:
• The vehicle has to be less than 8 years old.
• Taxes, insurance and car loan amount, if any, should be paid in full.
• The borrower should have a regular income.
• Before the loan is approved, the vehicle should have cleared the MOT test.
• Last but not the least; the borrower must be the owner of the logbook.
Logbook loans can be approved on the same day of application and the money is also transferred to the borrower's bank account. Online application has made it easier for an individual to apply for such loan. The advantage of a logbook loan is that there is no credit check and so if any borrower who has been refused a personal loan due to bad credit history, can easily avail a logbook loan. Maximum loan amount can be £50,000 and repayment tenure depending on the agreement between the borrower and the lender.
Related Tags: unsecured loans, logbook loans, car logbook loans, secured loans against logbook, auto logbook loans, logbook loan, loans against logbook
After having hisself gone through the ordeal of loan borrowing, Jelson Rawling understands the need for good quality loan advice. To find Logbook loans , Secured Loans Against Logbook, Unsecured Loans , auto logbook loans visit www.logbookloans.me.uk Your Article Search Directory : Find in Articles
Recent articles in this category:
- Payday Installment Loans: Ideal Funds That Supports Your Impending Needs
Any impending monetary crisis will be tough to deal with, if you are not having adequate funds. Neve - Educational Loans -helps To Secure Bright Future
Education is said to be the most important thing in ones life. It not only helps to improve the stan - One Hour Payday Loans No Faxing - Fastest Option Of Acquiring Money
Nowadays, loans have become a common thing among the UK people as needs are rising while the salary - Tenant Loans - Instant Monetary Support For Non Homeowners
Are you looking for an unsecured financial help that does not demand security to place against the r - Payday Loans No Faxing - No Verification And Delay
So many times, the approval of the loan gets delayed due to the lengthy paperwork and documentation. - Bad Credit Car Loans -helps You Finance A Car
Are you in need of a new car? Here bad credit car loans can offer you finance as you need. Perhaps y - Logbook Loans - Friendly Deal For Car Owners
Everyone knows that logbook is a paper issued by driver and vehicle licensing agency. This important - Same Day Loans For People On Benefits - Quick Money For Instant Financial Hold
Urgent and unpredictable demands might arise at times when you are not financially prepared. To deal - 3 Month Payday Loans - Feel Free With Longer Repayment Option
Are you looking for the loan that can give you small cash, but for longer duration? Are you worried - Loans For Bankrupt People - Look Forward For Financial Stability
Financial acronym or injury and inability for reimbursement to the concerned are known as insolvency
Most viewed articles in this category:
- Unsecured Personal Loans - Loan for the Common Man
Loans can broadly be divided into two types - unsecured loans and secured loans. Secured personal lo - High Risk Unsecured Personal Loans at Nominal Interest Rate
Today, unsecured loans gave grabbed the market as more and more people are opting for it. The loan m - Personal Loans-Don't Suppress Your Financial Needs
Personal loans can be segregated into a secured and an unsecured loan option. If you are a homeowner - Take the Loan; Show No Reason
If you are in need of a loan and want to utilise it for any purpose without showing the reason to th - No Compromise With Your Pleasure, Have Your Own Car
On a fine morning, you get up to see the sun shining brightly in the sky, leaving the world bathed i - Subsidized And Unsubsidized Student Loans!
These loans carry different loan terms and different requirements. According to the student situatio - Interest Rate: The Key Factor on Car Loans!
There are such wide variations in APR between lenders that you can end up overpaying on your car loa - Fight Against Tight Financial Situation With Personal Loans UK
It is always better to prepare yourself for unforeseen or unexpected expenses. If you are not born w - Advantages And Disadvantages Of Lack Of Security On Loans!
The unsecured nature of these loans attracts tenants but homeowners as well. However, in order to de - Unsecured Personal Loans-A Loan Everybody Is Eligible To Procure
Unsecured personal loans cater to urgent day-to-day financial requirements, and have become very pop
