Unlocking The Cash From Your Car

If you have ever been in a financial bind or denied a loan for whatever reason, then you may not realise that your car could be the answer to your financial worries.

Without selling your car you could instead opt for a logbook loan, this type of borrowing allows you to use your car as security against the loan and can be a convenient way to get money quickly.

It can be extremely difficult to get a loan on short notice from traditional lenders, and if you have bad credit or CCJ’s it can be nearly impossible, but a logbook loan lender will accept all credit types, instead they look at the affordability of payments for you and the value of your vehicle.

Unlike traditional lenders, there is no long waiting period, from start to finish you could have your money on the same day as you apply!

Always make sure that you are dealing with a reputable logbook loan company.

A lender such as eLogbook Loan are members of the CCTA and authorised and regulated by the Financial Conduct Authority which means that they abide by a strict code of practise and in turn this also means greater protection for the borrower.

These types of loans can be extremely convenient for life’s little emergencies, such as an unexpected home repair or even medical bills, but the money you borrow can also be used for something fun, it is totally up to you.

You also get to keep driving your vehicle while you make repayments, so that there is no disruption to your everyday life.

As long as you are a UK resident, over 18 years old and own a car that is fully insured, under 10 years old and free of finance then you too can apply for a logbook loan.