Tag Archives: car

Pledge Your Prize Possession And Attain Higher Amount With Logbook Loans

Larger chunk of UK who own vehicles are still looking for ways to crackdown the financial short comes. They are not even aware that their most precious possession can get them good cash or loans at the time of emergencies. People are not aware of the fact that the logbook of their car can convert their dreams into reality.

However, logbook loans are very much popular amongst many vehicle owners in the UK. The borrowers are not required to worry about their car as it can be used simultaneously.

A logbook is a legal document or a registration certificate issued by the Driving and Vehicle Licensing Agency (DVLA) in the UK. It contains information of the owner of the vehicle, chassis number, registered keeper of logbook, current registration mark, engine number, color and the model of the car. Hence, the amount borrowed against the logbook of a vehicle is known as the logbook loans and are often considered as the origin secured loans.

With the heavy effect of recession people are not able to borrow amount to meet their financial demands. The exacerbating economic condition has already pushed masses towards bad credit record. Therefore, looking at such circumstances, owing a car is like a blessing in disguise.

However, along with its brilliant service logbook loans are also backpacked with several things that are needed to be taken into consideration. They are as follows:



  • The approached financial lender tends to offer the amount up to 50% (sometimes even more) of the trade value of the car.
  • The prepared credit agreement and bill of sale is signed between the chosen lender and the borrower.
  • Thereafter, the ownership of a car is transferred into the hands of the lender.
  • The lender also carries all original documents that belong to the vehicle. It generally contains the insurance certificate, MOT certificate and the V5 registration document holding detailed information about the owner.

However, by pledging the logbook of the car, the borrower are provided with an amount ranging from £ 500 to £ 50, 000, it solely depends on the value of the car of the borrower. Thus, such a huge amount can be used to overcome any purpose such as debt consolidation, clearing bills, renovating homes.

Nevertheless, in order to get through the process of logbook loans, the borrower is required to fulfill the eligibility criteria which is decided on certain grounds. Such as:



  • The logbook of the car should be in the name of a borrower.
  • The vehicle should not be more than 8 years old.
  • The borrower should be a full time employee and should carry handsome salary.
  • The vehicle should not be held by any payments and should be cleared from any other side finances and
  • The pledged vehicle must be insured and taxed before hand.

However, the amazing part of such borrowing is that it does not demand any kind of credit verification and also caters borrowers holding bad credit profile. Whereas, to be on a safer side, the lenders demands the borrower to fill up an income and expenditure form which determines the repayment capability of the borrower.

Logbook loans are also provided through online mode which further makes the whole process of application and approval much easier, simpler and faster.

Therefore, this type of borrowing enables the borrower to fulfill their dreams with such a huge amount.

Guide For Bad Car Loan Financing

Do you have a bad credit score and worried how to get your car loan approved? Well! Getting a car loan is easy now – so do not have to get much apprehensive about how to get your car loan with a bad credit record. You need to need the right way to proceed with the financing options and present your credit records in such a way, that the loan company gets an assurance about your paying back the loan within the stipulated time.

Today, there are several companies which are ready to offer car loans to interested customers at very flexible terms and conditions – but the main problem is faced by people who have a bad credit score. It becomes very tough to get car loans approved if you have a bad credit history. This is one of the biggest challenges which are faced by individuals with bad credit history. However, if you long to get your dream car, do not let your poor credit score affect your desire.

It is known to all that loans which are available against bad credit scores normally have higher rates of interests, still you need to ensure that you are not cheated by money lenders or organizations which are offering your bad car loan. So, before you decide on any company for your loan, you need to ensure that the company is charging the right rate of interest and not taking advantage of your poor credit score. You can ensure that you are not being fooled by doing a thorough market research on the market scenario and bad car loan offers from different companies.

When you explore the market, you will have several options for your car loan credit. You can research online for potential lenders to find out about companies which shall offer you car loan credit. You can make a list of all free pricing quotes so that you can make a comparison of various loan deals. Once you have the quotes with you, it becomes very easy to come to a final decision. The next step is to get in touch with dealers who are ready to offer you car financing options, especially in case of conditions of bad credit score. This is one of the favorite strategies of car dealers to increase their target sales or reach their sales quota.

Many borrowers make a mistake of choosing just any company which is offering them car loan credit on the belief, that they might not get another opportunity for such loan. You might be having a poor credit score but that does not mean that you have to deal with a company which does not follow proper guidelines or a company which is illegitimate. Do not make such mistakes – you might be having a poor score, but you deserve due respect and fair dealings under all circumstances.

Last, but not the least do not forget to check your personal credit report before signing the documents so that you are sure of your standings when you are taking the loan. Do not hurry for your car loan – think, analyze and then sign the document.