What are Log Book Loans?

Log book Loans have been in around loans for over 8 years. These loans are secured against the value of a vehicle.This can be a car van, motorbike,so basically anything that has a logbook. Remember though that as these loans are secured on a vehicle if you do not keep up the repayments on the loan the vehicle will be repossessed. Logbook loans are perfect for consumers who fail the criteria for a payday or unsecured loan as there are no personal credit checks and the loan is secured on the consumer’s car. Consumers can borrow between £500 and £50,000. Logbook loans are a loan without any credit checks which provided you are the legal owner of the vehicle and the vehicle has no outstanding finance owing gives you peace of mind when applying, as you will be guaranteed to be accepted. Typical APR can be as much as 437%.

Log Book Loan Companies.

The Company Logbook Loans have been going for over 8 years and they currently manage in excess of 10 million pounds worth of logbook loans for their customers. Logbook Loans are able to make cash available within 24 hours. The standard log book loan term is 78 weeks, however customers can choose to settle their logbook loan early without any penalties. The Logbook loans APR reflects the fact that the applicant/customer does not have to pass a credit check at all and is not subject to any other qualifying criteria such as employment or income details when applying for the log book loan. V5 Loans is a reputable lending company specialising in loans for those that have bad debts, CCJs, would fail a credit check or find it hard to raise money on the high street.