An example of a cheque. (Photo credit: Wikipedia) |
A Way Out
There is no reason why you should let things go out of hand while there is a way out. Most individuals today think accessing a loan still takes long time for all lenders but this is hardly the case. Some take a day at most to process your loan and put money in your bank to use immediately. There are many ways of accessing a loan today but the best is perhaps the use of your car logbook. A logbook loan is a loan pledged under the papers of the vehicle logbook against the amount of money you want to borrow. It is the amount secured and provided against your car logbook documents. In an exchange with the money, the individual is given the amount of money he or she needs and the lender keeps the car logbook as security until the loan has been repaid.
Nothing To Fear
Many people might fear the repayment period or even the interest rate but the truth is that the lender does not dictate to the owner of the car and everything is agreed one on one. Basically, you have a source of income such as a business or employment and the amount to be deducted on a monthly or weekly basis should be enough to repay the entire loan over a given period of time.
Do Not Be Gullible
The important thing is not to be gullible and ask for money you might not have planned for, such as the entire value of the car. If you have a genuine emergency you can ask for a specific amount you are ready to pay back easily without any problem. At the end of the day, the most important thing is meeting the needs you have today, service the loan as agreed and keep driving the vehicle until you have repaid the entire amount and you get your vehicle logbook back. Across the UK, those with logbooks registered in their names can apply for loans against the car’s logbook. The logbook is the certificate given to the owner of the vehicle with a vehicle and driving license agency.
The most fascinating part of a logbook loan is that bad credit is a thing of the past since it hardly matters as a result of having the loan secured on the borrower’s logbook. It does not get better than that.
About Author
Michael is a finance broker who advises individuals on raising funds and getting loans. He recently reviewed services of Log Book Loan Experts, a company offering logbook loans in UK.