Loans against your vehicle
There are many a time in life when you need money, you need money for personal consumptions, you need money to expand your business, you need money to meet emergencies and you need money to meet speculative needs. You might consider selling off your vehicle. But wait, you do not need to sell off your vehicle. You can get loans against your vehicle. Logbook loans are the loans that you get against your vehicle’s document. Logbook loans are also known as V5 loans. These loans have some characteristic features and great advantages. Here they are:
• A logbook loan is provided against the logbook or V5 document of your car
• The lender keeps the logbook with him until the span of the loan is not over or unless you have cleared the loan amount
• These are better options as against single day loans. They are very much cumbersome. They have a huge rate of interest which these logbook loans do not have.
• People with bad credit rating also get logbook loans because they have the power to use their vehicle as a security
• There is no early repayment fee if loans are taken through logbook companies
• You also get the right to enjoy your vehicle’s usage. The companies keep the logbook with themselves and not the car.
Logbook Calculator is a company which helps borrowers Fund lenders. It lists all the rules, regulations, terms and conditions of a lending company. They also provide you with the rate of interest of the lending companies. There website is logbookcalculator.com; these people have the great working environment. This company never charges anything from you for visiting their website. They also assure customer or client’s protection.
Their features and advantages
The following are the features and advantages of the mediator company:
• Eligibility criteria and documents required: To be eligible to apply for a loan, the borrower must be 18+ years of age, he must be a citizen of the UK, and he must be the legal owner of the vehicle. The vehicle must have all the papers litigation free. At the time of application, the logbook of the vehicle must be present. The MOT and insurance papers are the other requirements.
• The amount of money that can be borrowed: The amount of money that can be borrowed ranges from as low as £200 to a high figure of £50000. It depends on the condition of the vehicle and its valuation price.
• The only risk that is involved is the risk of the borrower losing his car due to the failure of payment on time. The company is lenient in this matter. It tries to maintain a smooth relation with its clients.
• The company has an amazing feature of online calculation of the monthly payment of the borrower. The things are transparent. The borrower at any time can check the exact amount of payment that he needs to make. What are the interest rates, the rules, and regulations, etc.?