Tag Archives: asset
Logbook Loans: Rely on it for Big Financial Help
In order to get higher volume of funds in short term, logbook loans are mostly relied upon.
Whether the elections in the country come or go, whether any industry stays or gets vanish from the market, the loans section in UK will remain stiff, and this can very well be proved through the statistics coming out of the financial services sector of the country.
According to the recent reports, the emphasis is more on the short term credit facilities and the secured loans. Hence, this easily proves the success of logbook loans in the market.
Today, people are not hesitating to pledge their precious asset in return of a big amount of loan and if that is offered for a short term then the deal is termed as sweet in the current scenario.
Hence, as per the functioning process of logbook loans, the funds are offered to an individual after he pledges the logbook of his car. The logbook here means the bunch of documents which contains the information like name and address of the owner of the car, engine number, chassis number, insurance details and registration details of the car.
With so much information hidden under it, the logbook of the car itself become a worthy asset and therefore, while availing a logbook loan, a person does not have to pledge his whole car but makes a lender satisfied with the bunch of documents only.
When a person goes for a logbook credit, he gets two main benefits. First of all, there are not many credit facilities present which offer such a hefty amount of loan for the short repayment tenure, and secondly, as the short repayment tenure is involved in the process, the borrower gets free from the debts in a short term and gets to save more in the future.
If a logbook loan is the need of a human being, then a person should make sure that his car is standing in a good condition. Further, some insurance claims can also cause danger to the loan amount.
Hence, if a person is eying for big cash in a short term, he can rely upon logbook loans.
Car Loans- Wheel your money
Today when owing a car has turned into a necessity from luxury, one can’t wait for years to save money and then buy a car. Car loans help people getting a car of their choice and need. With the car loan market in UK getting bigger by the day, the borrower can get a car loan at attractive rates. There are lucrative deals on new car loans and used car loans in the UK market.
Car loans can be secured, as well as unsecured, the latter being more popular. Lets have a look at both the options: Unsecured car loans- The borrower needs to have an excellent credit profile for procuring an unsecured car loan since it requires no collateral to support. Different banks and lenders have varied interest rates for this loan type. Unsecured car loans do not risk your assets, so is preferred by the borrowers.
People who already have a mortgage running on their home, car or property go in unsecured car loans. Elimination of valuation of asset and legal issues concerning it quicken the process. The APR on unsecured car loans is usually higher than their secured counterpart. Though the loan amount depends on the brand of car you have chosen, it also depends upon the credit history of the borrower. The current APR that lenders in UK market are offering is ranged in between 6.4% to 14.9% (fixed).
The following are the agreements that come under unsecured car loans:
Secured Car loans- They demand an asset to be placed as collateral for availing the loan. Being backed up a security in the form of house, they carry a comparatively low rate of interest. Since they involve a great risk in the form of house getting seized by the lender, this loan type is not that popular.
Car loans are basically the best way to get a car since borrowers may not have liquid cash to spend. But it requires a detailed comparative research of various deals on car loans available in the UK loan market.