What Are Logbook Loans?

Modern day loan services tend to use the idea of a logbook loan. One of the most used such service is by Car Cash which revolves around helping customers cash their cars in a reliable and efficient manner in order to reduce the overall financial burden on their shoulders.

A logbook loan is basically a loan that has been secured against a certain vehicle. A more formal way to get rid of the cash involved is to go through a credit check and other procedures which seem to become complex and complicated. However, a quick and simple way to go about things is to use a logbook loan which does not involve a credit check.

Requirements

All what would be required from the end of the users is for them to produce a physical logbook to show that they are the legitimate and registered owner or keeper of the official vehicle. Car Cash services are regulated by the FCA while logbook loans are only issued by FCA regulated companies. The customers sign an agreement where the loan of the vehicle is secured with a bill of sale. On the other hand, the borrower is responsible to ensure that the car is taxed, kept in good condition, and is insured completely while they have the rights to use the vehicle during the duration of the loan.

Logbook loans allow for an efficient and perfect way to safely obtain your cash on a vehicle even if you have been refused credit before as there are no checks made on the applications which do not keep a hold of the history.

Car Cash tend to offer large amount of sums as logbook loans with no formal credit procedure required from their end. What you need to do is ensure you are in the right region and get in touch with them through the application process. The payment process follows a pay-as-you-go method which means that the interest is only paid at the time period when the loan is held. There are no repayment penalties or fees generated. Car Cash Points flexible and sensible services using logbook loans make it easy and simple for people to deal with cashing their cars comfortably.


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