Logbook Loans

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Logbook Loans - Cater All Kind of Emergency Needs with Ease

When a family finds that they are in financial crises, they often do not know where to turn. Many families, and individuals, are struggling due to the rising cost of nearly everything. When an unexpected expense arises, people need money quickly and they need it without all the hassles a bank gives them.

Some people may not realize but there is money sitting in front of their house. Their car can get them the money they need for everyday living expenses or emergencies or just about anything they could think of that requires funding they do not have. A logbook loan is perfect for unexpected emergencies around the house such as plumbing or electrical work that goes badly out of the blue. There are also accidents that may require money that a family or individual just does not have because they weren't planning on spending so much money; it's why they are called accidents. They pop up out of nowhere and wreak havoc with our lives and our budget.

A logbook loan will provide a person or family with the funds they need to fix their home, pay an unexpected bill or other type of emergency, no mater how big or small with money now. A logbook loan is simple and all a person has to have is a clear logbook. The logbook from your vehicle must be in the name of the vehicle owner and there must not be any money owed on the car to anyone such as a bank or individual.

A logbook lender will have an individual signs paper which states the borrower agrees to pay back the money, so much each month, for so many months. The logbook lender will then collect the logbook and keep it for the duration of the loan. When the last payment on the loan has been processed, the logbook will be returned to the automobile owner. The person receiving the funds for the loan will get to keep driving their car during the loan period as long as they are making payments in a timely manor.

Everyone with a full-time job or verifiable source of income could qualify for a logbook loan. If you need funds for an emergency or problem, then a logbook loan could be your answer.

The reason an individual needs a full-time job or verifiable income is so that the logbook lender can make sure they are going to get their money back. In addition, they want to make sure that this loan will not put you in further financial hardship. Someone who has lost their job would probably not qualify for a logbook loan because they would not have the means to pay it back.

When an individual is considering obtaining a logbook loan, they need to consider their current budget and then add the payment to the logbook lender into that. They will also be responsible for the maintenance on the vehicle, taxes, licenses and insurance. All this needs to be kept up during a logbook loan. There is also a required MOT inspection for the vehicle before the logbook loan will go through and then again every few years throughout the loan period.

So look to your automobile for hidden money in an emergency and obtain a logbook loan for those times when you need the extra funds but a bank will not do because of your credit or having to put down a large piece of collateral. If you need any legal or financial advice you can contact Citizens Advice.

Representative Example

450.5% APR Representative

Representative example: if you borrow £850 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will make 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total. However, our lenders only charge interest monthly and do not penalise you for early settlement. If you repaid the loan in one month it would cost you just £93.50 and nothing more.

Rates range from 99.9% to 450.5% MAX APR. Logbook loans are instalment loans secured against your vehicle and are subject to affordability. Missed payments may result in additional fees and/or the repossession of your vehicle. Over 18s only, T&Cs apply.

LoansLogbook.com is unable to supply you with an exact APR (Annual Percentage Rate) that you will be charged if you are approved for a loan. APRs vary according to the information supplied by you in your loan request and the duration of the loan. Loan terms range from 12 months to 36 months paid on a monthly instalment pay schedule.

Our lenders do not charge any set up fees when you take out the loan, nor is there any charge for settling early. You may however incur charges if you fail to make your payments on time. Any late payment charges will be clearly set out in the agreement you sign with the lender and will be explained to you fully before you take out the agreement.

Implications of Non-Payment and other Considerations

We would like to remind you that LoansLogbook.com is not a lender and LoansLogbook.com does not charge any fees for its services. Every lender in the LoansLogbook.com network provides the consumer with specific terms, conditions, and practices prior to the consumer's acceptance of the loan. We recommend that you carefully review the terms and conditions of any loan offer presented to you. For further details about the above considerations see our Rates & Fees page.

Implications of Non-Payment, Late Payment, or Partial Payment

When you accept the terms and conditions for a loan offer, you are agreeing to pay back the loan principal and finance charges in the amount of time shown in the documents supplied by your lender. Additional fees or charges by your lender may apply in the event that you are unable to repay your loan in full or if you make a late payment. LoansLogbook.com cannot predict the amount of the fees or charges that you will incur as a result of non-payment, late payment, or partial payment. LoansLogbook.com has no control of knowledge of the loan details between you and your lender. Please refer to the late payment, partial payment, and non-payment policies detailed in the loan documents provided by your lender. LoansLogbook.com does make an effort to work only with reputable lenders dedicated to pursuing collections of past due accounts in a fair and reasonable manner.

Fees and Interest

If approved for a loan, your lender will present you with the exact fees and interest rate of your loan prior to your acceptance of the loan. LoansLogbook.com is not a lender and cannot predict the exact fees and interest of the loan option presented to you. You are under no obligation to accept the terms presented to you by the lender.

Credit Score Impact

LoansLogbook.com does not make credit decisions nor does LoansLogbook.com conduct a credit inquiry on consumers. Some lenders on the LoansLogbook.com network may conduct a non-traditional credit check in order to determine your eligibility for a loan. Lenders typically conduct a credit inquiry with the three major credit bureaus: Transunion, Experian, or Equifax. Ultimately, your credit score may or may not be affected by the actions of a particular lender. If you do not repay your loan on time your lender may report this delinquency to one or more credit bureaus, which could have a negative impact on your credit score. We encourage consumers with credit problems to consult a Credit Counseling company.

Renewal Policy Information

Renewal policies are determined by the lender, not by us, so they will vary. Be aware that some lenders may not debit your account for the full amount of the loan which may result in additional fees and a renewed loan. Make sure you read the renewal policy carefully and make your wishes clear to the lender.

Collection Practices

LoansLogbook.com is not a lender and LoansLogbook.com does not engage in debt collection practices. Your lenders' collection practices will be disclosed to you in the loan documents. If you are unsure of the collection practices used by a specific lender we recommend that you discuss this issue with your lender directly. LoansLogbook.com makes reasonable efforts to only work with established, reputable lenders who pursue collections of past due accounts with fair conduct.

Legal Disclaimer

LoansLogbook.com are a broker and not a lender who refer customers to other brokers or lenders that are authorised and regulated by the Financial Conduct Authority.

All loans granted subject to affordability. Proof of income will be required. A Logbook Loan is secured against your vehicle, which may be repossessed if you do not make payment. Lenders abide by the CCTA voluntary Code of Practice. We do not have a renewal policy.