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Mar 09

The Benefits of a Log Book Loan

Posted by:AutoMoney

When searching for a log book loan, it is important to look at the benefits of your provider and what they offer. 

Guide to log book loansOne of the best things about a log book loan according to our customers is the convenience – applying for a loan and receiving the cash the same day is, in many cases is the biggest benefit. But you may be surprised to know that there are more benefits to a log book loan with AutoMoney:

Poor credit? No problem:

We understand that sometimes situations crop up and people’s financial status can be affected. Because the loan is secured on the car, poor credit, CCJ’s and applicants that have previously declared bankruptcy are not necessarily penalised. We are happy to consider any applicant, including the self-employed and people with no previous credit history. Our over-riding concern is whether the loan is appropriate for the customer and whether they can afford the repayments.

Affordable monthly repayment plans:

With a fixed payment plan in place when the loan is agreed, your monthly repayments are always the same amount, so you always know where you stand. There are no hidden fees, and when you take out your loan you will be told the monthly repayment amount as well as the APR and the total amount you will repay.  

No early settlement fees:

We appreciate that sometimes situations can take a turn for the better and often people are in a position to pay off their loans before the term has ended. We do not penalise customers for this and do not charge any hidden or extra fees – in fact we encourage it! People who settle their account early also save on interest!

You can apply online or call 08000 28 27 26 for further information 

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Borrow with confidence

Borrow with confidence

We are PROUD MEMBERS of The Consumer Credit Trade Association. AutoMoney were forerunners in the creation of The CCTA Lending Code of Practice and we adhere strictly to its principles. Click here to view. ALWAYS MAKE SURE THE LENDER IS A MEMBER.

350.5%APR Representative
Representative example: Loan amount £1000. Duration 18 months. Repayable by 16 monthly repayments of £170.42 and one of £198.42 (includes Bill of Sale registration fee of £28) commencing two months from the date of the loan. Total amount repayable £2925.14. Rate of interest 187% per annum fixed. Representative 350.5%APR. LOANS ARE SECURED ON YOUR CAR. The vehicle may be repossessed if you do not keep up the repayments.