123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Business >> View Article

Getting More Mileage For Your Logbook Loan

By Author: Andrew Edmonds
Total Articles: 49

Short-term loans can be very useful when those terrifying unexpected expenses crop up, but they aren’t for everyone. In fact, if you have a poor credit rating, it may not even be possible to qualify for one. Luckily, there is a wide financial market out there with lots of different options depending on your needs and circumstances.

A Logbook loan can be a great solution to fixing a sudden financial problem. If you need cash quickly to pay for an emergency like the ones we’ve mentioned, using your car as collateral to receive money could be the answer.

A loan of this kind is a simple way of using the value of your car to cover any sudden emergency bills, with the added bonus of being able to keep driving your vehicle in the interim.

One alternative to the short-term or payday loan is a logbook loan. This a loan secured against your vehicle, where the car is the guarantee. If you’re the registered owner of the car, you simply hand over the V5 registration document to your nearest branch of logbook loan provider in exchange for funds that are paid much faster than other types of loan. You don’t need to sell the car to release the money, you can borrow as much or as little as you need and in many cases, you can pay back what you owe in as little as a month without being hit with an early repayment fine.

If you’ve done your homework and you believe you’re ready to take out a logbook loan, you now need to know how to eke out the very best deal for yourself. It’s crucial to remember that how much you can borrow depends largely on the value of your vehicle, which is why it’s a good idea to do the following before submitting an application:

Make sure your car has passed its MOT.A car with an out-of-date MOT certificate and possible maintenance issues which could affect its road-worthiness are bound to have a negative impact on its value. An MOT doesn’t cost much provided no repairs are needed, but it could help your chances of being accepted for a Logbook loans UK.

Keep on top of servicing and repairs. A car with lots of problems and outstanding repairs needed is not an attractive prospect to anyone apart from a scrap dealer. You wouldn’t sell it in that condition because the value would be affected, and the same goes for logbook loan valuations. Get all repairs carried out before submitting your application and you should get the maximum value for your vehicle.

Have the right paperwork ready. You’ll need certain documentation in order to take out a logbook loan, including the V5 registration document, proof of your own identity and proof that you can pay back what you borrow (i.e. bank statements, wage slips etc.) Have all of these ready to prevent delays and to make the process of applying for your loan go more smoothly.

Remember – always read the small print
Like any loan, it’s very important to understand fully what you are agreeing to when you take out a logbook loan. You need to understand the interest you’ll be paying back and the terms of the agreement, and what will happen if you fail to make repayments. If you are accepted for a loan, can you afford to make all the repayments? If not, a logbook loan is probably not the right choice for you.

More About the Author

i am Andrew Edmonds From UK and i am working for Eaffy Solutions Ltd. and i like to submit articles and blogs..

Total Views: 74Word Count: 578See All articles From Author

Business Articles

1. Business Baby Backpack Carriers Are Indeed Great
Author: babycarriers australia seo

2. Tips For Starting Your Home Based Business
Author: Michael Jacobsen

3. Good Engineering Colleges In Jaipur
Author: adriana.brainbuxa

4. Mm Laser Clinic Was Founded On Three Main Principles Part - I
Author: Unknown Member

5. A Glance At The Top Themes In Indian Wedding Decorations For 2018
Author: Shabu Miah

6. Jaipur College Of Engineering
Author: thomasbrainbuxa

7. Customized Harnesses Available On Request Part - Ii
Author: Unknown Member

8. Great Service, Sooner Rather Than Later, Makes A Website Successful
Author: Surabhi Joshi

9. Entrance Exams For Admission In Reputed Colleges
Author: celinabrainbuxa

10. Wedding Photography Services Margaret River
Author: Ben Yew

11. Escuchar Y Descarga Canciones Mp3 Part - I
Author: ulmp3.org

12. Mission Statement Part - Ii
Author: For more details on our products and services, ple

13. Multichannel Marketing- The Only Marketing Technique To Triumph
Author: P2E

14. Best Pediatrician Texas
Author: abhishek854114

15. The Function Of Web Development Services
Author: makemy website

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: