Avail Easy and Beneficial Cash Help Through Logbook Loans

By: Jelson Rawling
You never know when you may require cash for some emergency situation. It is normal that for some urgency you are not prepared. An unexpected huge utility bill or a medical bill for instance requires you to pay cash in the middle of the month. If you are not prepared and do not have sufficient balance in your bank account you might look for some alternative options. Logbook Loans are the best solutions for these kinds of situations. The interest rate for these loans is generally cheaper than the overdraft charges of the bank and other financial organizations.

The Driver and Vehicle Agency of UK issue the log book for each and every vehicle both for private and commercial usage. The information regarding the vehicle such as the VIN number, the registration number and the chassis number, etc are mentioned in that document.

These loans are now sanctioned by many financial organizations, Banks, brokers and dealers. Both the online and offline lenders are providing Log book loans in UK as they growing popular. You can drive your car while using its value as the security against the money you borrow. The funds are sanctioned and transferred in your account on the same day of your application.

The lenders keep your vehicle's Log book as the security for the loan amount. The vehicle will be with you and you can continue to drive it. You may apply from ?500 to ?50,000 as the cash advance depending on the valuation of your vehicle. If you do not have good credit score, CCJs or arrears in the market you should not worry as that will never prevent you from applying for a Log book Loan. No credit check is done before sanctioning the loan amount.

The basic criterion you should meet to apply for a Log book Loan are:

? The taxes and insurances of your vehicle must be clear and must be paid by you whenever required

? The vehicle should not be older than 8 Years.

? There should not be any financial obligations on your vehicle.

? The logbook should be registered under your name.

? You should have a regular income.

? You must be a citizen of UK and should be over 18 years of age.

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