Log Book Loans Are Ideal If You Have Bad Credit

Log book loans are one of the quickest and easiest ways to obtain a loan if you have had bad or poor credit.

Log book loans are secured on your vehicle, you are allowed to keep the vehicle but the log book will be kept with the provider. The log look or v5 as they are also known is basically the birth certificate of the car. If you need the v5 to tax the vehicle the loan lender will provide you with it but you must then send it back.

To apply for a log book loan you must be over 18, be a UK resident, be in employment part or full time, and own a vehicle thats under 10 years old and be free or nearly free from any finance

So how does it work? Well from my personal experience you will get in contact with a log book loan provider this can be done either other the phone or the application can be done via the internet. The application is dead simple basically involves name, address, car reg etc.

The provider will then contact you they normally phone you, this phone call will be to confirm your details and tell you how much they can lend you, normally they lender will give you a price based on its trade value. You will then be required to arrange the provider this will be carried out at their nearest offices to you.

Once you meet the lender, yet again the process is very quick they will take a photo copy of all your documents and if you are lucky like me they will take a picture of you next to the car. The loan provider will then look around the vehicle.

Once all the above is completed you will have to sign quite a few forms its quick but theres lots of sign here please, and here, and here. Then the loan provider will give you a cheque, if you are desperate like I was I took to the cheque to a place like cash convertor and they gave me the cash.

The loan is now secured on your vehicle which means if you miss a payment the provider may tow away your vehicle. If you cannot afford to make a payment on the due date you agreed make sure you get in contact with the loan provider, dont hide or ignore their calls because you will lose your vehicle.

by: kevin

POST COMMENT

Payday Loans For People With Bad Credit: Fund For The Bad Creditors Cash Loans No Credit Check- Easy Cash Loans With No Credit Check Bad Credit Payday Loans: Fund For Bad Creditors With No Barrier Payday Loans For Bad Credit: Choose The Best Mode Of Cash No Credit Check Installment Loans Cash Help At Easy Repayment Bad Credit Payday Loans: Procure The Quick Succor Of Fund Loans For Bad Credit: Get Money Via Superb Support Quick Unsecured Loans: Fund With No Need Of Collateral & Credit The Basics Of Credit Card Processing Rates How To Repair Your Credit Score Do You Have A Bad Credit? Find Out How You Can Fix It Fix Your Credit By Following These Suggestions Restaurant Credit Card Processing: Tips