Am I Eligible?
Logbook loans do not require any credit checks and you can find out with in minutes if you qualify and if all goes well you may have the money transferred into your account within 15 minutes. Depending on the lender you may not need to have a bank transfer and could possibly collect your money in cash or have it delivered to your home.
In order to qualify for a logbook loan you will need to show:
Ø That you are over 18 years old and are a resident in the UK.
Ø Show that you have a regular income – those who are self-employed may also apply.
Ø Must be the legal owner of the vehicle.
Ø The vehicle needs to have very little or no finance left to pay.
Ø Vehicle will needs to have a current tax disc, insurance and MOT.
Ø The vehicle must be no older than the maximum age set by the lender.
Another benefit with logbook loans is that you don’t need to tell the lender what it is you need the money for whether it is for some home improvements or a holiday.
Some people may get limited purpose loans that could end in costing them a lot in the long run. Have you asked yourself, what if the best opportunity isn’t covered by that limited use? But on the other hand this could be exactly what you need in order to help you and you could even be left with some extra cash in order to spoil yourself or another loved one.
It is very straight forward once you have applied and been accepted, the lender will take care of all the paper work and details.