arkhome

Facts You Should Know About Logbook Loans


As we live in financially very difficult times, our needs for some quick cash are often present. As much as we try to keep our finances in check, something unexpected can always happen.


Getting a standard loan when you need money the most is almost impossible. Usually, this includes the bank representative asking you a number of questions about your financial situation, income, where you work and so on, but also some questions for which you would be hard pressed to figure out what they have to do with your loan application. And, after all of that is done, you will probably get rejected because your credit rating is not as pristine as they would like. Whose is?


Well, if this happens to you, rest easy as you have another option for getting quick cash and it involves a lot less hassle. Logbook loans are a type of secured loans that is available to people living in UK and owning a car. It has become very popular in recent years, especially due to the fact that there is now credit check and the money can be deposited on your account within only 24 hours of successful application.


The application process is also very quick and simple. You only need to fill out an online form on thelender's website. Once you do that, you can arrange a meeting with them and drive there with your car. The car will then be evaluated on the spot and your loan sum determined based on its model, make and age.


Once everything is done and you present the necessary documents (logbook document, MOT, ID, recent paycheck, proof of residence...), you can get your money immediately, or go to your bank and collect it there.