Get Car Log Book Loans With Bad Credit

Since the recession it has proven even more difficult for people with bad credit to be able to gain access to loans of any sort. Lenders are more and more unwilling to take a chance on those borrowers that do not have a perfect and long credit history. However, car log book loans represent one method that borrowers can use to gain access to loans of between £500 and £50,000 using their car as security for that loan.

Getting Loans With Bad Credit

Bad credit can arise for any number of reasons. Unemployment, illness, or other personal circumstances can lead to missed repayments and payments on various financial products and these missed payments are typically reported to credit reference agencies. When a borrower considers lending money to a person they receive a report from the credit agencies.

Getting Loans With No Credit History
Having no credit rating can be equally as damming as having one riddled with missed payments and this is a vicious circle to be caught in. If you don’t have any credit history then you will find it very difficult to receive a loan or other form of credit. Again, car log book loans can be taken out by those with little or no real credit history.

Secured Loans

Car log book loans are a form of secured loan that instead of using property such as your home as security use your car as collateral against the risk of defaulting on the loan repayments. As long as you’re the register owner of your vehicle, which is less than 10 years old and has no financial claims on the vehicle then you may be entitled to take out car log book loans which can be used for any purpose.

Car Log Book Loans

Car log book loans are quick and simple to arrange with many lenders offering a decision in principle in a matter of minutes. Reputable companies will want to check on the state of the car before they agree fully to the loan but once this has occurred the money could be in your bank account in a matter of days.

Car log book loans from offer competitive rates on loans secured against the value of your car. Contact us today to find out how much you could borrow.

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