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7 Reasons you probably go for logbook loans

In Today’s market, Logbook loans have come out in a beneficial way as compared to other loan options. Some of its reasons are explained.

1. Quick Loan Option

If you are looking for an instant cash loan option and you are running out of options, then Logbook Loans are the best option for you. Once you meet up with its light requirements, your loan is approved in less than 24 hours.

2. You Drive Your Vehicle And Get A Loan Against It

Logbook Loan is approved against your vehicle but you retain the vehicle. However, your vehicle’s V5 Document(Vehicle Registration Certificate) is kept with the lender’s company till the loan amount is fully paid.

3. No Credit Checks

Your credit history isn’t checked while applying for Logbook Loans. Even if you have bad credit, still you can go for this loan option.

4. Negligible Requirements

As compared to other loan options, log book loans has very lenient eligibility requirements to get your loan approved.

5. Flexible Repayment Terms

This loan option provides flexibility for paying back the loan amount. And if you pay the loan early, you get early paying benefits as well.

6. You Can Borrow Up to £50,000

The loan amount is decided upon the vehicle’s market value at that point of time any some other related factors. The maximum amount which can be borrowed is £50,000.

7. Less Interest Rates As Compared To Payday Loans

The interest rates for logbook loans is less than that of payday loans. Thus, it makes logbook loans a better loan option as compared to others.
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