Those who own a Fiat and are in need for some urgent cash can make use of their car log book and get Fiat log book loans against it in emergency situations. Basically, a log book is a registration certificate which is issued in UK.
The book is valid for 5 years and it contains important information about the car like its engine and model number, its registration details, chassis number and other such details. There are many lenders today who can offer you Fiat log book loans and the best thing about these loans is that they are available to even those who have low credit scores.
Who should apply for these log book loans?
There is no credit check done when you apply for Fiat log book loans so anyone who owns a Fiat and fulfils the basic criteria can be eligible for the loan. However, it is best not to go for these loans if you have a decent credit history since there would be many other better options for you.
These loans carry a high rate of interest so these should only be taken by those who are unable to get approved for any other kind of loans. The log book must be in your name, you must have a regular source of income and you should also be a UK resident. Depending on the lender, there might be other additional eligibility criteria for Fiat log book loans which you will have to fulfil.
The amount of loan that you would be eligible for would depend on the value of the car on which the outstanding dues would be deducted. The biggest advantage of these loans is that they are available to those with less than decent credit history.
Those with poor credit face quite a lot of difficulties getting approved for loans when they need one since there are not many lenders who are ready to extend funds to them. With Fiat log book loans, there is nothing to worry about since no credit checks are conducted when you apply for the loan and so, you would be able to get the loan quite easily.
Another big benefit of the loan is that it is available online so you would be able to find all the information you want online, check the terms and conditions of the lenders online and even apply for the loan online. All you will have to do is to fill up a short application form and submit it.
The lenders have very short processing time for Fiat log book loans so you can expect to get an update within a day or two. The best thing to do is to check a few lenders’ websites and get to know their background information.