subject: Logbook Loans-Feasible financial service for car owners [print this page] Logbook Loans-Feasible financial service for car owners
Do you often fall in cash crisis due to insufficient finance in your hand? Logbook loans have been introduced for the people who have a car and are in need of additional finance. These loans are stress free loan aid that can be accessed on the basis of your logbook papers. Logbook papers are legal documents of your car that proves the ownership of your car. Thus, when you fall in some cash crisis and holding a car of your own, get applied with this loan without any stress.
Logbook loans are kind of secured loan that just demand the logbook papers of your car. You do not have to place any physical asset at all. Thus, you can simply enjoy driving your car anywhere without any obstruction. The amount that you can borrow with this loan is fixed that can be ranges from 500 to 50000 with easy repayment period of 3 to 7 years. The borrowed money can help you to resolve myriad expenses and desires such as meeting electricity bills, go for vacations, pay off higher education fee of your child, buy a luxurious item for your dining room and so on.
Several lending criteria are required to fulfill to get the approval of Loans against car, such as:
1. The car you place should be more than 8 years
2. The car should be owned by the applicant
3. A checking account is also needed as banks only transfer the cash in the bank account of owner of logbook.
4. Car should be free from any financial claim
5. The applicants should be getting a regular source of income
6. Also, he should be a UK citizen with 18 years or above.
There will be no trouble even if you are holding many bad factors in your account like insolvency, foreclosures, bankruptcy, CCJ's, arrears, defaults and so on, you can still enjoy the loan approval. Logbook loans are hassle free financial deal in which lenders do not discriminate the applicants on the basis of their credit status. Thus, despite of holding any type of credit records, you can access the needed amount of money.
