Are you in a need of financial support? Facing shortfall of finance
? Want your financial needs to be fulfilled on time? Do you own a car against your name? If yes then the logbook of your car will help you to access funds by opting for most convenient option of loans against logbook. These loans are secured against your logbook. Thus, by the fruitful assistance of loans against logbook all your financial demands can be effectually sorted out without any trouble.
Logbook is issued by the Driver and Vehicle Licensing Agency (DVLA) and it is a legal document that comprises the proof of your ownership of your car. To get loans against logbook you will have to keep the logbook of your vehicle with the lender till you pay back the full loan amount. The amount that you can procure through these loans comes in the range of 500 to 50,000. A well online research helps you to get best loan deal at reasonable prices.
In order to get these loans you are required to meet certain eligibility criteria for the approval of the loan, which are as follows:
- The car must not be older than 8 years.
- Your name must be matched with the owner's name in the logbook
- There must not be any financial dues in the vehicle.
- The taxes and insurance dues must be cleared for the vehicle.
- You must be 18 years or more with having a regular income source.
After the loan gets sanctioned by the lender you can still use the vehicle as long as you are paying your monthly repayments on time. It should be completely your responsibility to keep the condition of the vehicle good. The biggest advantage of Logbook Loans is that these loans are free to be applied by those people having poor credit score.
Hence, loans against logbook can be a good means to acquire funds against your logbook for meeting all your fiscal needs from paying off old debts to home renovation to education purposes.