Logbook Loan
What is a Logbook Loan?
Your car could be turned into cash by means of a logbook loan in the United Kingdom. Loans are being sought all the time for several reasons. They could be for buying a home, paying some heavy bills or even to take care of some existing loans. Logbook loans are convenient to get yourself some quick cash. Logbook loans can convert any kind of car that you have into a medium for borrowing money. If you are looking for some extra cash in an emergency situation, one of the easiest ways to get cash in quick time is to go for a logbook loan.
You can get instant money with your car as collateral in a matter of just twenty four hours. No credit checks are performed to get the loan approved for you. You also get to keep your car during the tenure of the loan. It is a simple process to get this kind of a loan. You just need a car with a logbook and you would have a loan worked out for you. An important document pertaining to your car is the logbook. It contains all the details of your car such as the registration number, the chassis number, the engine number, its colour and the important identification details of the owner like name and address.
The loan is secured against this document describing the vehicle. The loan will be worked out based on the value of your car. You have to be above the age of eighteen to qualify for the logbook loan. The lending policies differ with each lender. The most important requisite is that your car should not be tied up with a finance agreement and that the installments or loans against your car are fully paid up elsewhere.
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