subject: Logbook Loans: a tangible monetary option [print this page] Logbook Loans: a tangible monetary option
Getting trapped in to some sort of financial crisis is now quite usual. The recent inflation along with the high expenses, it is not possible to resolve all the financial issues, with a limited income source. Even if you do want to overcome these problems, then how are you supposed to arrange the funds? If by chance, you do get the chance to lay your hands on a loan, the terms and conditions would be such that you can no way go for it. However, if you do own a car, then you can certainly attain the services of logbook loans.
These loans are of course made available against the logbook of the car that you own. Normally, the logbook usually contains information related to the car such as:-
- Owners name
- Model and make of its year
- Registration including license
- Engine and chassis number
Often, the amount sanctioned is based on the present market value of the car, which of course is beneficial. But, prior to the approval of the loans, the lenders do look for certain requirements, which you must comply with. In this regard:
- The car should not be older than 8 years
- Needs to properly insured
- Must be free from any claims or outstanding debts
- You need to be employed with a fixed and regular income source
- Access to a valid and active checking account
Once the loan amount is made available, it gets deposited directly in to your bank account. The repayment tenure along with the terms and conditions levied too are quite flexible; and is not much of a burden. Even those having serious credit disputes including that of CCJs, IVA, arrears and defaults too can attain the loans.
Those looking to acquire these loans instantly and that too without much of a hassle, it would be ideal to use the online facility. There is no need of any paperwork and documentation, which by the way, saves you a great amount of time and money.
With loans against your car, you will never have to confront any sudden or unexpected financial crisis.
