Poor credit ratings are common and prevalent in these days of economic crisis and credit crunch. Realty market is in the pits and property rates are sinking lower everyday making both secured and personal loans rare and scarce.
Ford Logbook Loans are a good option for those who need an urgent secured or payday loan and suffer from a bad credit history. Most lenders do not entertain those with a poor credit history and bad credit loans are almost impossible to get these days.
Ford logbook loans are ideal solution by some companies for this scenario, where one needs an urgent short-term personal loan without the baggage of the credit history.
Ford Logbook loans can be easily availed through these companies, you credit history being immaterial. This is the easiest solution to your urgent requirements for a secured or payday loan, especially if you have a bad credit history.
These loans are secured against your cars logbook and are ideal if you do not want to secure a loan against your home or property due to the unstable market conditions.
These Logbook loans are available to even problematic cases like those with CCJ’s against them, previously refused loans, those with existing debts or even bankruptcy.
Logbook loan companies are especially designed to cater to this segment and have experts with them catering to these problematic cases and fund requirements daily.
The logbook loans require you to submit your car logbook to the lending company, even while you get to keep and drive your car. This makes these loans convenient and hassle-free.
To be eligible for logbook loans there are certain criteria:
- You must be a citizen of UK and over 18 years of age
- The car must be clear of any previous financial claims
- The car must not be very old (less than 8 years old)
- The logbook must bear the name of the borrower as the legal owner
- The taxes and insurance on the car must be fully paid.
Logbook loans are extremely beneficial for many reasons:
- Credit history is immaterial
- It is swift and can be applied online
- You secure the loan on your car and not your house
- You can use your can while you use it for loan
- You can avail anywhere from £500 to £50,000
- It is extremely fast and easy.
As long as all previous finances on your car are paid, you can receive logbook loans against the logbook. The borrowable amount could be up to £50,000 depending on current value of your car (calculated on its make,model and year).
Logbook loan, interest rates differ from company to company and hence it is always helpful to look around before you decide on which company to avail it from. Interest rebates for early loan settlements are available in many companies, decisions are quick and most formalities can be done online.
In short the are many logbook loan companies that make it easy and straightforward to borrow urgent short-term secured loans for those desperate times.