Logbook Loans

Logbook Loans for You

Logbook loans are loans which can be borrowed by car owners, provided the vehicle is clear or nearly clear of any finance. The loan amount may range from 500 pounds to 50,000 pounds.

Who is Eligible for Logbook Loans?

To qualify for a logbook loan

  • One should be the legal owner of a car
  • One should have paid off the car loan or will complete pay off in the near future

How are Logbook Loans Advantageous to the Borrower?

  • No Credit Check

A person may need a huge sum of money urgently.  A payday loan may not be enough; getting an unsecured loan may not be possible because his credit rating is poor.  In such a situation, logbook loans are the best option as lenders do not conduct any credit checks and the credit history of the borrower does not matter.The only requirement is that the applicant should own a car free of finance.

  • Immediate Provision of Money

A logbook loan which is approved will be granted immediately.  In fact, the borrower will receive the amount within 24 hours.

  • Any Purpose Loans

A logbook loan can be used by the borrower for improving his house, for taking a vacation or for any other purpose.

  • Interest Rebate for Early Settlement

Unlike some loans where prepayment is not allowed, lenders of logbook loans charge a lower interest if the borrower pays off the loan early.

How to Apply for Logbook Loans

The procedure for applying for a logbook loan is simple and can be done online.

  • One can use a search engine such as Google to look for a web site which facilitates provision of logbook loans. 
  • He can then visit one such site, enter the details asked for –his contact details and the vehicle details.
  • The lender who is willing to lend, may ask him for some more information after which the loan is approved.

Logbook loans are the best bet for many as they are more beneficial than a payday loan and easier to get than other loans where credit checks are compulsorily conducted.