If you need cash in a hurry then a logbook loan could be the perfect answer. You keep driving your car however use the value of your car as security against a loan. The funds can be issued the same day plus what's more there are no credit checks.
How does a Logbook Loan work?
We keep your logbook
You keep driving your car
Loans from £500 - £50,000
No Credit Checks
CCJ's Arrears no problems
Same Day Service
If you can answer YES to the following you qualify:
Your vehicle is less than 8 years old
Your vehicle must be taxed, insured and mot's
Your vehicle must be clear of any finance
You can demonstrate a regular income
Logbook must be in your name
Apply Online Now for your logbook loan and the cash could be with you within hours.
All the below fast cash payday loan lenders can advance you up to £1000 - some won't even need to carry out a credit check. Previous credit history, including CCJs, need not be a problem. Affordable, fixed repayments, collected regularly from your home or from your bank on your future payday. Apply online today with no obligation by simply clicking the adverts below!
To View Unsecured Loans For Tenants & Adverse Credit Click Here
What is a logbook loan?
What is it?
A log book loan is, in simple terms, a personal loan where borrowing is arranged against the value of your car.
The loan can be offered on a ‘same day’ basis to the car owner, the person who is the registered keeper. Although no credit checks are required, applicants need to demonstrate that they have adequate income to cover the repayments. The car will also need to be less than eight years old; of sufficient value; taxed and insured with an valid MOT and; not subject any finance agreements. The lender will hold the log book for the vehicle for the duration of the loan whilst you continue to drive your card as normal.
Pros
No credit check is carried out so your financial history has no impact on your application. Access to borrowing is quick as the loan is available on a ‘same day’ basis. You continue to have full use of the vehicle whilst repaying the loan.
Cons
Because lending is arranged over a relatively short term, the time which you pay back the debt, interest rates can be high. The amount that can be borrowed is based solely on the value of the car, not your ability to repay. Failure to maintain payments could result in you loosing ownership of the vehicle.
EDITOR'S CHOICES
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Tenenat or homeowners get an unsecured loan of up to £25,000 even if you have arrears or a bad credit history. There are lenders that can help.
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