Logbook Loans Review

Some people are refused a payday loan because they are self-employed or unemployed or because their monthly out-goings is higher than their income - or sometimes because the minimum net salary requirement is not met.

Others may have bad credit such as CCJ's, Defaults, be in arrears with loan repayments even though their net income is acceptable - payday lenders that carry out credit checks can see your credit status when they get your credit file.

So if you fall into one of these categories what can you do - what are the alternatives to payday loans?

Well, if you have a car then you may be in luck - you can qualify for a instant logbook loans . Logbook Loans offer a secured, same day loan solution by using the log book of your vehicle as security.

One of the biggest companies in the UK that offer logbook loans go by the same name: Logbook Loans. They are a reputable company and have a Consumer Credit License to operate in this market from the Office of Fair Trading (OFT).

Logbook loans are available quickly (most of the time within 24 hours). And better still, no credit checks are carried out so your credit file is not accessed and therefore applicants with bad credit are accepted. This is great news as even people with Bad Credit are not excluded from the loans market.

So what are the requirements to get a logbook loan?

1. you have to be the legal owner of the car (or the vehicle) which has the logbook;
2. The car/vehicle must be clear (or nearly clear) of finance. If you have 1 or 2 months of finance repayments left to make on the car then Logbook Loans will accept you;
3. The car must be registered in 2002 or later - i.e. it must be 8 years old or less;
4. You chose from a loan term of up to 78 weeks and Early Settlement is allowed with no penalty charges for doing so;
5. You drive in with your car and drive away with your cash loan - can be as quick as 15 minutes;
6. You KEEP your car, the lender just holds onto your log book (which you get back once you repay the loan).

Logbook Loans have been established in the UK for more than 8 years now. They are a responsible lender and will require you to complete a simple income and expenditure form to ensure you can afford the loan - a sensible step to prevent you ending up with debts you cannot pay back. www.loanslogbook.co.uk