Use your personal vehicle to get a Logbook Loan
Are you planning to take up a loan, but scared about it because of the collateral? Well, this collateral issue is not something new and clearly has been the reason for many a problem. So, it is important that before taking up a loan, the borrower be well aware of the demands of that specific loan and prepares with adequate collateral in that sense.
When a complete checking of a person’s assets and liabilities are completed, it becomes easier for a person to apply for a specific loan.
What is a Logbook Loan?
This is a type of loan that allows a person to use his or her personal vehicle for getting a loan. In this case, a person can keep his vehicle, especially a car that is not older than 8 years as collateral against a certain amount of money.
Most importantly, within the time period in which the borrower has kept their car, they can use it. Only after that stipulated period is over and the person is unable to pay up the loan, will the car be seized.
What are the financial ranges?
In case of any loan, this happens to be the primary question. With Freedom Bulwark Loans, you can get a complete checklist stating details associated with this loan.
The amount that you can borrow is within £100 to £50000, depending on the monetary value of the car to a certain extent. The Representative APR varies within a range of 400% to 450.50%, with the given time limit being 78 weeks. So, with a return of minimal amount against a sum that is borrowed, this is truly one of the best loans that are available against the vehicle which is at stake.
There is a certain short term Logbook Loan available as well, within the monetary range of £250 to £20000.
Criteria for application of Logbook Loans:
We at Freedom Bulwark have a set of qualities that are to be fulfilled while applying for this loan.
- The person should be of 18 years of age and should have a valid income certificate before applying for this loan.
- The borrower should be the legal owner of the vehicle that is to be submitted. There should be a valid logbook document, related MOT documents for the application to be considered.
- The vehicle that is to be kept as collateral should be insured properly.
- Since monetary amount is dependent on the vehicle, so it should not be less than 8 years.
With fulfilment of all these criteria, getting a Logbook Loan that is approved within a period of 24 hours becomes quite an easy feat.
Why choose Logbook Loans?
In comparison to other loans that are available in the market, Logbook Loans have their own set of benefits.
- The whole money lending process in this case is done through online means. Also, the verification of documents and approval options are available online itself, increasing the work speed of this process.
- Unlike other loans which have certain hidden agendas associated, in case of this loan every detail is displayed in a transparent manner.
- Since most of these Logbook Loans have their own set of Representative APR rates, hence people can choose repayment schemes as per their choice.
- People with a bad credit score can also apply for this loan.
Thus, with Freedom Bulwark you have the option to make sure that you get loans that suit your demands. We have been in this field for a number of years to provide the required credentials in this respect.