I am interested in personal finance and having taken out a few logbook loans thought I would write a website about how they work and some of the pit falls of them.
Logbook loans aren’t for everyone, they have higher interest rates than most types of personal loan and are generally used when people need short terms funds.
They are however ideal for people who don’t have a good credit record and find themselves unable to take out a loan elsewhere.
My experience with logbook loans tells me that you need to shop around a lot before you actually commit to a deal. There are significant differences in interest rates between the lenders and each of them have different lending criteria. Do your research if you want to get the best deal.
Logbook loans aren’t for everyone, they have higher interest rates than most types of personal loan and are generally used when people need short terms funds.
They are however ideal for people who don’t have a good credit record and find themselves unable to take out a loan elsewhere.
My experience with logbook loans tells me that you need to shop around a lot before you actually commit to a deal. There are significant differences in interest rates between the lenders and each of them have different lending criteria. Do your research if you want to get the best deal.