If you do not have any extra cash to pay for your pending bills and this is tickling your mind with worries, then you need to apply for logbook loans. These are long term loans which would promise sufficient money against the logbook of the car. Logbook keeps all the information related to the car or any vehicle. It includes the registration number, date of purchase and model number, etc.
Search for a lender would be effective with the use of computer and an internet connection. Online research would open the doors to the borrowers to find lenders who would issue these logbook loans at affordable rates. The terms and conditions may vary from one lender to another. Be careful while reading the terms and conditions given in the print. Otherwise, you might fall in trap of hidden costs. The loan amount would be calculated against the cost of the car. The repayment period may vary from 3 to 7 years. You would not be verified for maintaining bad credit history. You would not be disapproved for any other bad factor like county court judgments, foreclosures, bankruptcy, etc.
Another standard term used for these loans are known as loans against your car. In order to qualify for these loans, it is required to fulfill certain conditions:
a) Should maintain citizenship with UK.
b) Must have bank account details which should not be less than 3 months old.
c) The car should not be more than 8 years old.
d) The registration should be under applicant’s name.
e) It should be free from any kind of liability.
f) The bank account details are required for easy monetary transactions.
If you would fill up the details and submit it online, it would go to the lender’s site for further verification and approval. It would be a matter of 24 hours when the loan amount would be transferred to the bank account. Utilize the money the way you would want. You can make use of it for paying the hospital bills, debt consolidation, car repairs, unplanned trips, etc. You can even use the money for home renovation and buying any property or asset.