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Many people find it difficult to get loans because they do not have a good credit rating or because they do not own a home or other property that can be kept as a lien to a bank or a financial institution to get a loan. And these are the people who need a loan the most. A logbook loan is the loan for such people. A logbook loan is given against a car that you own. Most people own a car if nothing else and such people can take a logbook loan when they so require because the only condition that a logbook loan is given is that you must be the owner of the car as mentioned in the logbook. The logbook or the V5 Registration of the car is the document that gives details of the car owner, the age of the car etc. as per the data with the DVLA or the Vehicle registration authority in the UK. Usually cars and other vehicles must be less than ten years of age, however in exceptional cases and using different terms loans are given against cars and other vehicles older than ten years. The logbook loan that can be given to the loan seeker depends on the market value of the car. It is possible to procure loans from £200 to £30000 depending upon the make the age and the condition of the car and the value of the car that is evaluated. It is possible to apply for a logbook loan online on the website of the lender company. You can also call the local branch office as most good logbook loan companies have local offices in most big cities of the UK. The staff of the local office will guide you through the process of application for the loan. You may also visit the local office of the lender company and carry with you the relevant documents that are needed to process your loan. The documents that you must carry are: • The logbook (V5) and MOT • Insurance details • Evidence of your income and identity • Two recent letters or bills If you take the above documents with you, it will be easier to process your loan application and there will be no delays in disbursing the loan that you have applied for. All your queries and doubts will be addressed by the staff of the lender company who will also ascertain your ability to pay back the logbook loan. You have then to just drive away with the cash. Adam Charles is an author of this article and writes about logbook loan. To know more about logbook loan , please logon to http://www.logbookloans.com/.
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