There are times in life, when things don’t go as you plan. Some circumstances catch you off guard and you are them left in a situation where you need quick cash. For those with a top notch credit score, getting a loan is as easy as walking into their local bank and filling in an application form. However, if your credit score is less than worthy, the bank is not an option for you.
Age 18+ UK Resident Own a Vehicle Vehicle Model Year 2008 or Newer Vehicle Should be Free of Finance
If you meet the requirements you could get a loan!
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Money Delivered Fast – Same Day! No Admin or Setup Fee Bad Credit Considered Can Borrow £200 to £50,000
Need cash in a hurry? You get cash the same day!
And you keep your vehicle!
If you own a vehicle, you may use it as security against a loan. Provided the logbook is in your name and you can afford the repayments, a reputable logbook loan company will grant you a loan. In this case, you will have to hand over your logbook to the money lender, but will still retain use of your car. You may also be required to sign a document, called the “bill of sale’ agreement. By law this document must be registered by the high court. In the event that you default on your payments or choose to default on the entire loan, the loan company then has the right to repossess your car. So you need to be fully aware of the implications of defaulting on your payments, prior to signing any agreements.
Tackling a Financial Emergency with a Logbook Loan
An emergency could be different things to different people. For some it is a situation that just springs up on you, with no prior notification and for others it is something that happens every year, however, they did not have time to prepare for this, this particular year. In most cases, people in this predicament consider their options. Some consider going to family and friends to borrow money. However, with the state of the economy these days, it’s unlikely, that you will get help from them. You may then consider asking your boss for an advance. The decision to grant it, is then entirely up to your boss and in most cases, even if it is granted, the entire amount will be deducted off your next paycheck. Logbook loans have been helping people meet big financial emergencies for years. These loans are easier to get than those from the bank. These reason for this is that your car is used as security and in the event that you default on the loan, you stand the chance to lose your vehicle.
Sometimes you encounter a sudden death in the family and this requires finances. Usually, when this happens, certain members of the family pitch in and contribute towards the cost of the funeral. But since families are struggling to make ends meet in this day and age, this option may not be available. A logbook loan is the best option available, in this case. If you are preparing for the birth of your baby and want to have everything you need for your little angel, but find that it is out of your budget, this would be a good time to get a logbook loan. With options of making long term or short term payments, you have the freedom of choosing an option that works best for you and your family.
All you will need to take with you is your logbook or V5 registration document, your utility bill, that’s not older than 8 weeks, as proof of address, 2 recent bank statements, latest wage slip and your drivers license or passport. Get a free quote now on our website, it takes minutes.
