Logbook Loans Explained
This 60-second video explains what a logbook loan is and why Solution Loans may be able to help you.
Video Transcript
Logbook loans allow you to borrow money against the value of your vehicle. This may be an option worth considering if you have a less than perfect credit history. You will be credit checked but you could still get your loan within hours of applying even though it is secured on the value of your vehicle. Sound like an easy option? Well, keep in mind the following:
- You risk losing your vehicle if you don’t keep up the repayments
- The cost of a logbook loan may be higher than some other options
Still interested? Then you’ll need to know how to go about obtaining one.
- Choose the lender with care. We have teamed up with one who has a good reputation.
- Show the lender you can afford the repayments
- Provide the lender with the vehicle’s V5, MOT and insurance documents
- Show the vehicle to the lender at one of its branches
- Read the loan agreement carefully – if you are not happy walk away before signing!
Discover more about logbook loans and check out the alternatives using our find a loan tool. Visit the Solution Loans website now.
Audio Track
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