logbookloans12
Joined: 04 Sep 2013
Posts: 1
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 Posted: Wed Sep 04, 2013 10:22 am Post subject: logbook loans calculator |
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Logbook Loans - Why Look Elsewhere When You Can Use Your Car to Borrow!
A lot of people own cars and have no idea that when they are hard-pressed for cash Logbook loans can come handy in ensuring that their financial woes and brought to a temporary end. The loans are given to
any car owner with proof of ownership. Most loan companies give car owners 50% loans on the value of their car. Unlike other kinds of loans, repayment is quite flexible. Repayment of the loan varies from
company to company but ranges between periods of 12 weeks to 3 years. Repaying of interest does also not start immediately. The borrower only begins paying interest as agreed with the lending company.
What do you mean by logbook loan?
The logbook loan means lender has "the charge" on your car till you repay the debt. The logbook loans were been popularized in America where logbook is a legal proof of the ownership of your vehicle, since
this document includes the details like chassis number of car, engine number, registration mark, etc. The lender doesnt keep your logbook & you are totally free to drive the car anywhere given you keep the car
in very good condition. Your car should be insured, so if you are ever involved in any accident and the car cant be repaired, then you will have money to pay your logbook loan back. Sum up, the unsecured
loans can be used for covering huge purchases where you want to spread its cost over the long time and if you do not wish to pledge property while taking out the loan. Car will stay in owner's possession and
just the logbook can be taken by logbook lender.
Apply for these loans instead of bad credit loans and after making the application for the these loans which is normally done either online or through phone, a representative of the company will give you a call
and make an appointment on when they can come and inspect the car. This they do in-order to ascertain the value of the car before any loan is issued. It is also important in knowing that even while you borrow
money on your car, you still keep it and is not taken away. It is only after the loan has been approved that the agreed amount is deposited into the borrowers account.
Ownership of the car is also ascertained at the time of inspection. Logbook loans only give loans to car owners with logbook in their names and not other third parties. These loans give borrowers ample
repayment period unlike other kind of loans where borrowers have to pay the principal sum and loan at one car. Car owners with urgent financial needs can smile their way to the bank and have their financial
woes attended to without having to go around borrowing money from family and friends who on most occasions are not willing to give a helping hand. Suppose you are searching for the loan, then this short
guide might come very handy to learn about the logbook loans.
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