Logbook loans - money against vehicle logbook
Logbook in simple terms means a vehicle registration certificate
issued by Driving and Vehicle Licensing Agency (DVLA) in the UK.
I hope you are aware of the fact that registration document V5
popularly known as logbook has become invalid from July 2005 and
is replaced by a new style vehicle registration certificate
(V5C). A logbook is valid up to 5 years and contains entries
regarding owner of the vehicle, registered keeper of logbook,
chassis number, current registration mark, engine number, model
and color of the car. You know various means of borrowing. But,
do you know you can borrow a loan by using a logbook. Yes, it is
true, now you can borrow a logbook loan.
A Logbook
loans is a kind of personal loan secured against a car. A
UK resident who has a logbook registered in their name is
eligible for logbook loans. Lenders in exchange keep the logbook
of the borrowers with them against the loan. Borrowers can enjoy
the complete freedom to drive their car without any restrictions
from the lender.
Amount that a borrower can borrow with a logbook loan ranges
from