Cost of living is rising with each coming day and the common man is the one who is suffering this problem the most
. Sometimes, it becomes very difficult for a person with limited salary to solve all the month expenses with his/her salary. Some unexpected expenses can be a problem for you at the times when you are already finished with your salary. At such times, you rely on external sources for financial aid. One of these sources is logbook loans. You can avail these loans for fast financial assistance.
Logbook loans can be availed using the logbook of your car. A logbook is a certificate, which is provided to the car owners living in UK. You might be thinking what these log books have in them. These log books contain the whole information about your car
including ownership details, engine and chassis number and registration number. Even after placing the logbook with the lender, you are free to use your car.
Let us now make you aware about some main points that are needed to be kept in mind before availing these logbook loans. The points are as mentioned below:
The log book should be in your name
The car of which the log book is being used, should not be older than 8 years
The log book being used should be clear all the obligations
Last but not the least, your car should be insured as it would act as a source of credibility for the lender
With the help of these logbook loans, you can borrow an amount ranging between 1000 pounds and 25000 pounds. The repayment tenure for these loans is 7 years. These loans serve you the best if you need urgent money and own a car.