The Log Book Loan Option

In the United States the document that holds all of the information about your vehicle is called the title. In the United Kingdom this same document is called the log book. The log book contains the various numbers on the vehicle like VIN, engine numbers and others; it contains ownership information as well. Many people use this document as collateral to make a log book loan when they need money in a hurry.

Logbook Loans are basically a loan secured with your log book or title as collateral. The amount of the loan is based on the current Kelly Blue Book value of you auto and can be as high as £50,000. The repayment period is usually fairly liberal and can last from 1 about 7 years. A log book loan is a legal and binding contract between yourself and the lender. The lender agrees to loan you money and you agree to repay it on a certain schedule. If you violate the contract the lender can legally seize your vehicle.

One of the reasons that log book loans have become so popular is the ease at which you can get one. Most lenders have websites and only require you to fill out a one page form and you will have you loan on the next business day. Keep in mind though that different lenders offer different rates of interest and shopping around can and will save you a bundle and get loan that best meets you needs.
So, if you have a car that is at least ten years old. The title, or log book, is in your name and you have identification for yourself and insurance on the car you can get a log book loan 24 hours or less. This is a great way to get quick cash at very decent rates.