Logbook loan is perhaps the most famous lending policy to the borrowers over the years. In this tough market of recession the borrowers often get refused to get the approval for the loan. The financial companies have restricted the rules and regulation for giving the approval. So the borrowers are facing huge problem.
There is a simple solution of this problem. The borrowers who are facing great problem regarding the approval of the loan can apply for the logbook loan. This is a simple lending policy. In case of logbook loan you can apply even for the small amount. To get the logbook loan you have to submit the V5 document. But you don’t have to mortgage anything against the loan.
In this article we are going to discuss the ways of getting logbook loan and its benefits. In the fist section of this article we will discuss how to apply for a logbook loan.
How to get a Logbook Loan:
· You have to submit the logbook of your car. Logbook is the V5 documentation which proves your authorization over the car.
· You have to browse internet. If you search into the internet you will get many websites of many financial companies that offers logbook loan to the borrowers. You just have to log into their website. There you will get a form. You will have to fill up this. The company will ask you to put some necessary information regarding name, address, phone number and Emil id.
· Once this online process is over you will get a call from the office. There will be a short discussion between you and the officials of the company regarding the logbook loan. A place will be fixed where the money will be delivered to you.
· If you are going to apply for the logbook loan you have to be over 18 years old.
· The car should not be over 8 years old.
· You must be the permanent citizen of UK.
If you can fulfill the above mentioned criterion, you will get the loan very easily.
There are many benefits of logbook loans. We are going to highlight these in this section.
· To get the approval of the logbook loan the borrowers don’t have keep good credit past.
· One does not have to mortgage his car against the logbook loan. Moreover the borrowers can use the car into the business. It helps the borrowers to repay the loan in time.
· The companies don’t keep the house as mortgage. This is another good advantage of logbook loans.
· The rate of interest is lower than other lending policy.
· It is a fat process. If you apply for the loan, you can get the money even within 24 hours. So the borrowers can apply for this loan in urgency.
· You don’t have to go anywhere to get the loan. You can complete the whole policy online.
In the above mentioned points we have discussed the advantages logbook loans and how to get it. If you are looking for logbook loan then this article is going to be great help for you.
Steve Irons has written several quality articles on Logbook Loans. He suggests his readers to visit Logbookmoney.com to avail more information on the same