As, Logbook Loans are one of the fastest disbursed loans and easy to get approval, most of the people in UK opt for Logbook Loans out of the plenty types of personal loans available in the UK. Logbook Loans are offered by several financial institutions and private organizations where you can simply use your own vehicle as a guarantor, collateral or a trust fund. If you are thinking of applying for logbook loans , there are several advantages that you need to know. As you are applying to Logbook Loans by providing the logbook of your vehicle to the lender, it does not mean that you need to give up the possession of your vehicle which you are using as a guarantor for the loan . You are just giving the registration details of your vehicle to the lender. So, there is no need to worry about the safety of your vehicle as you can get back the logbook of your vehicle, once you pay back the loan amount to the lender plus you can keep the vehicle with you during this whole time. Logbook Loans approval process has nothing to do with your credit checks. If you have a poor credit score, the terms and conditions of most of the regular personal loans does not allow you to get an approval for a loan.Where as with logbook loans , you can use your own registered vehicle and get the loan without any credit checks. When you apply for logbook loans , there is no need of extensive paperwork or it does not take days or weeks to approve your loan.Just a proof of your income and accurate registration details of your vehicle are needed. One of the main advantages of logbook loans is that, you can apply for a minimum of five hundred pounds to a maximum of fifty thousand pounds. In most of the cases, while you apply for Logbook Loans and if your vehicle follows the terms and conditions of Logbook Loans , then your application gets approved faster and the cash can be disbursed to you in less than 24 hours. So, if you have own a vehicle and you are in need of some urgent cash for any personal need, Logbook Loans can be the best option than payday loans for your needs, as you must show your income sources and statements of last three months of your income proof to apply for payday loans .
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