Do you urgently need money, but have nothing to pledge except an old car? Do you want to borrow low APR funds against your extra car? Welcome to the world of logbook loans in the UK! These secured financing options are quicker and cheaper than unsecured ones. Yes, they are reliable too. You don’t need to submit your car for availing instant funds. You can keep driving your car even after pledging to the lender. Even you don’t need to submit the physical copy of your logbook. Just fill your logbook details while applying for the loan and be ready for the instant cash.
Plenty of deals against your vehicle are available online. Let’s give you important tips to get the needed cash in less than an hour:
Tip 1 #Look for Direct Lenders, not Brokers
If you really want to avail funds in less than an hour, then try to look for the top direct lenders instead of brokers. A broker will take time and the lending process would be slightly complicated. Moreover, he will charge a high fee. On the other hand, a direct, reliable lender will process your application instantly and release the required money in less than an hour without charging any extra fee. There are fewer chances of hidden surprises and bitter borrowing experiences.
Tip 2 #Honestly Fill Your Logbook Details
Online direct lending companies want you to be honest and accurate while filling the logbook details in the online form. Even a small error or wrong information can steal your guaranteed chance to get the instant funds. They don’t ask you to submit the physical copies of your car’s documents so that you feel more comfortable and independent. As a sensible borrower, you should respect their soft lending policies and fill only true details.
Tip 3 #Borrow Lesser than your Car’s Worth
Many online lending companies boast that there is no limit on the loan amount. But, on the safer side, you should quote the required amount lesser or equal to your car’s worth. You can normally borrow between £500 and £50,000. It all depends upon your need and logbook details. You can use a logbook loan calculator for getting the exact idea about the permissible loan amount on your present car. Many lenders are ready to offer a high-amount loan against your old car. But, be careful while applying for these funds with them. They may charge you high APR.
Tip 4 #Look for Affordable Options Only
Forget the 1-hour timeline; even some lending companies are ready to offer funds in less than 15 minutes! But, they charge a very high APR. Try to pick a reliable lender who offers cheaper as well as quick deals. Also, ask your lending company about the extra charges. An affordable APR deal with no extra charges is far better than the lowest APR deal with many extra charges. Negotiate for waiving off processing, upfront, and lender charges.
Tip 5 # Pick Poor Score Friendly Offers
Don’t choose lenders who are highly fussy about the credit score of a loan applicant. Even not so perfect scores are not enough for them. To avoid this credit hurdle, you should choose a deal where you wouldn’t be required to pass a credit check step. Some of the online lending companies genuinely work for the bad credit customers and offer customised deals to them. Logbook loans for poor credit can be availed in less than a minute without the need of guarantors.
You can easily apply for these funds online. Even there is no need to scan your logbook and attach with the online form. But, be careful while selecting a lending company. Don’t give heed to the promises. Choose the best offer and Apply Now