Secured Loans Against Logbook for Vehicle Owners

By: Scarlette Riley

As we all know logbook loans are against your cars logbook. Logbook means a vehicle registration certificate issued by vehicle licensing agency. Secured loans against logbook is a unique loan which is secured without placing your home at stake.

These loans are offered to the borrower against their logbook. It is a legal documentation of your vehicle. It has the information of your current registration mark, chassis number or VIN number and detailed note about the registered keeper of the logbook. The logbook stays with the lender until you repay the loan completely. As soon as you repay the loan you get your logbook. This unique feature make these loans very unique and easy for the borrower.

Secured loans against logbook are secured in nature. This is the reason which enables the borrower to loan larger amount from the lender. The amount you can borrow through this loan varies from ?500 to ?50000.The amount which will be approved by the lender is on the basis of the value of your desired car. Then if there are any payments due on this car that will be subtracted, the amount left decides the loan amount.

The repaying tenure is decided by the lender according to your paying ability. You choose the tenure according to your free will. The rate of interest is very low as you have to pledge your logbook for the loan.

Online loan markets are very competitive. You can compare and choose the loan option which suits you the best. Online calculators are there to help you with all the calculations. After you fill up the online form, it will take only two minutes. Then the lender will get back to you within few hours. The loan amount will take only one or two days to transfer the loan amount to your bank account. These loans are faster and easy to apply and get.

Secured Loans
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