Logbook Loans

As a matter of fact, this type of loan is at present regarded as cheaper than the payday loans. At the same time, the services do not involve much of time consumption and hassle for sufficing your needs. These are the reasons for which, the concerned loan type has become so popular among the people these days.

So what are the service features of the loan? Firstly, for the qualification of getting the loan amount, you will need to have a vehicle of any type. You must also have the logbook or the v5 document of the vehicle, which is to be issued to the service provider as the collateral.

Next, you need to be about 18 years at minimum while having a regular income source. Even if you are self employed, and do not have the income proof, you can always provide the bank statement. Most interestingly, the services regarding he logbook loans allow you to keep and drive the vehicle during the loan periods without any hazards at all.

After you are done with the qualification, you can apply for one of the logbook loans, no matter if you have poor credit, CCJs or arrears. The service provider does not perform the credit check regarding this matter. You can get a big one as the loan amount as it is the present market valuation of the vehicle.

Even if the amount is big, the service features like flexible loan periods and nominal interest rates can ensure that you can repay things easily. Thus, it is of no wonder that the loan type has become so popular.