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Dec 04

Log book loans present individuals with the ideal lending opportunity

Posted by:AutoMoney

Individuals with no credit history or those who went through a bad spell in the past are likely to have tried to lend money with little success. Unfortunately, one bad incident or one bad period in an individual’s life can seem to haunt them forever – especially where money is concerned. However, there may be an alternate solution for you, and this is log book loans.

What is a log book loan? This is a loan that is secured against your vehicle. You will be able to borrow a percentage value in relation to what your car is worth at present – usually this is 70 per cent. You don’t need to hand over your vehicle. You only need to provide the V5c document. If you fail to repay the money agreed with the company they have the right to take your car. It is as simple as that.

The good news is that the eligibility criteria for this type of loan is low in comparison to other lending methods. You will need to be 18 years old and have a full driving license. The car needs to be yours and you must have paid for it in full. In addition to this, you will need to show that you can afford the loan repayments.

If you need to get your hands on some cash log book loans provide the perfect solution. All you need to do is start searching online to find the ideal loan for you. Remember to select the company carefully and read all of the small print as well.


Summary – There is a great solution for lending money in the current day and age, and that is in the form of log book loans. This article reveals all you need to know about them.

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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.