With the state of the economy that all of us are facing today loans are needed by normal individuals quite often.
People need to rely on unsecured or personal loans quite often but these are also quite difficult to find since the lenders have made their lending terms quite tough these days.
Those who have poor credit history would find it even more difficult to find funds when they need them the most and they are the ones who suffer the most. Most lenders would not entertain people with poor history.
Logbook loans for those with poor history
The best option for these people is logbook loans and if you have a Vauxhall, you would be able to easily get qualified for Vauxhall logbook loans. If you own a car which is free for finance and need short term funds, then you can definitely consider applying for Vauxhall logbook loans.
However, the one drawback about these loans is the high rate of interest so you should definitely be quite careful to only apply for these loans when you need them the most. There are quite a lot of borrowers who do not check the basic details and apply for Vauxhall logbook loans and then they end up putting themselves in a grave financial mess.
Who can apply for these loans?
It is important to only apply for these loans when you do not have any other alternative with you. There are a few eligibility criteria that you will have to fulfil when you are applying for Vauxhall logbook loans like you should be a resident of UK and must have an address proof, your car must be clear of any type of finance and must not be more than ten years old.
The insurance and taxes on the car must have been paid and it should have passed MOT. The logbook must be in your name and you should also have a source for regular income.
After checking all the necessary documents, you will have to sign the papers and they would take the logbook for your car. You might be given a payment holiday in some cases but it is best not to opt for it because of the high rate of interest.
The term for the loan is up to 2 years but the shorter it is, the better it would be for you. The best thing about Vauxhall logbook loans is that you can still use the car even after you get the funds. However, it is best to only go for these loans when you have an urgent need for cash and do not have any other alternatives for sources.