Secured loans against logbook are the loans which provide needed cash to the borrowers taking his car logbook as a sort of guarantee against the loan amount. Logbook is a crucial and basic document of the car. A logbook is a file that contains the information about your vehicle. It is given by the government and contains essential registration details. It includes information on the chassis number, registration number, and, VIN number etc. these loans offered to you in place of your logbook. The attractive feature of this loan is that while staking your car logbook you can still enjoy the pleasure of driving your car without any restrictions.
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Features:
The best thing about secured loans against logbook is that the credit record is not checked, hence, people suffering from bad credit score can also avail logbook loans without any hassle. You need not think about the risk involved as they are risk free loans without pledging nay collateral as a security. Your car is just not more a driving pleasure however it will help you to avail loan by pledging your car logbook as collateral.
These loans can easily avail as they have no credit check involvement. You can easily secure a loan regardless of bad credit history, which is an ideal solution if you are in need of a secured loan. A logbook loan is ideal for people who may currently have bad credit through no fault of their own, and who don't want a loan secured against their home and thereby taking a risk. The amount you can borrow is proportional to the current value of your car and could be anywhere between £5,000 and £50,000. These loans are consisting of online service which avail you the loan amount within least possible time.
Requirements:
There are few requirements that should be followed by the borrower to have logbook loans amount available to you:
1. The borrower must be regular in paying taxes and insurance on the vehicle.
2. He should be permanent citizen of UK.
3. The car should be under the name of the borrowers.
4. He should be an adult with the minimum age of eighteen years.
5. He should need to have regular income source.
6. There should not be any financial claim left on the vehicle.
7. He should possess an active bank account not more than three months old.
8. The vehicle should not be more than eight years old.
Summary:
Secured loans against logbook are specially designed to cater the immediate needs of the borrowers. So, to get the cash you need quickly and easily apply for secured loans against logbook. These loans have easy application and instant approval. You just have to fill a simple online form and submit on the lender's site. The loan mount will be delivered into your bank account for use. The repayment can be done as per the borrower convenience. This is where the online secured loans come in. They won't take away the keys of your car. You can use your car while you placing it as collateral to avail loan. You can get the cash you needed quickly and easily by applying for unsecured loans.
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