The term Logbook Loan may be new for you, but it is, in fact, a very simple concept. It is a loan (lending money) against an asset. (your car logbook).
Loan – to lend some money.
Logbook – belonging to your car.
By taking out a logbook loan, you are borrowing money against your car, while still holding on to your car.
There are a few things you need to have.
- Logbook Loans are in the United Kingdom. You, therefore, need proof of residence for either the UK, Scotland or Wales.
- You need proof of identification.
- You need to be eighteen years or older.
- You need to own your car.
- You need to have all the paperwork of your car.
- You need the valid MOT certificate, the correct insurance and all the paperwork.
- You need proof of income and a bank statement.
- You need to be aware of the system and how it works.
The first thing for you to do is acknowledge that you need to borrow some money and to acknowledge that you want to do this against your motor vehicle. It is a much simpler and quicker system than getting a bank loan.
You then need to choose who you are going to work through. We would advise you go to Log Book Calculator UK and make yourself familiar with how the system works. It is incredibly straightforward, and all the information is online.
Then, you need to apply. You can fill out the paperwork online and submit copies of your ID, residence, car ownership and all insurance certificates online. If you prefer, you can go into one of the many Logbook Loan offices. At any time if you are unsure of the process, somebody will help you. The service at Logbook Loan is incredible, and there is always someone on the other side to guide you, help you and to answer your questions.
You can get a quote online, you can get a quote by using the online calculator which is a brilliant and easy system, or you can pop into an office. You may need to get your car valued by an outside assessor if the value of your car is not a hundred percent sure. And then, together with an underwriter provided by Logbook Loans, you will work out the amount of the loan you need, how much you can pay back per week or month, and over how many months you can do this.
It is a very transparent process. The loans are tailor-made to suit your requirements. Nothing is set in stone, and because Logbook Loans work with the best underwriters in the UK, you will strike an excellent deal.
Like anything in life to do with finances, make yourself aware of the possibilities. Take control by reading up, and in fact, all the information you need is on the website. Educate yourself so that when it comes to loans and to monetising your motor vehicle, you understand the process. It is straightforward and quick, an excellent way to get a loan and the fact that you will have money in your bank within approximately 24 hours, very efficient. But be aware of the repayment terms and be aware of what happens if you cannot meet them. Logbook Loans are on your side, and they want the transaction to work. The happier you are, the more customers they will get. But, as we said in the beginning, there are always risks. Familiarise yourself with them.
Need a loan? Need to get out of a tricky financial issue? Look at your car.