Are you looking for a lender that can provide you sufficient financial support
? Struggling hard with shortage of finance for meeting with your important needs? If yes then the logbook of your vehicle can help you out for entailing finance. This can now be possible with the advent of logbook loans. These loans are provided to you against the logbook of your vehicle. By the financial backing availed through these loans all your financial demands can be effectively sorted out without any trouble. Logbook is issued by the Driver and Vehicle Licensing Agency (DVLA).
To get unsecured loans for 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 obtain through these loans comes in the range of 500 to 50,000. The interest rates on these loans are slightly higher, which can be minimized by doing a careful research of the competitive loan market via hassle and fast online mode.
To avail these loans you are required to fulfill certain criteria, which are as follows:
The car must not be older than 8 years.
Your name must be matched with the owners name in the logbook
There must not be any monetary 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 approved by the lender you can still use the vehicle as long as you are paying the monthly repayments on time. It should be completely your responsibility of the borrower to maintain the condition of the vehicle. In addition, the biggest advantage of Logbook Loans is that these can be also applied by bad creditors without worrying about their poor credit history.