Details On Compare Logbook Loans

If you have CCJs, bad credit or have missed a few payments, it may seem nearly impossible to get finance. Many lenders will charge check you and automatically reject you based on your past credit history, which in turn contributes to the rejection. However, there’s a solution, and that’s to apply for a loan which does not require a credit check. There are several types of loans that you can be accepted without a credit check. Firstly there are payday loans, which are short-term loans designed to tide you over from payday to payday. Most payday loans companies won’t credit check you provided that you meet their criteria for a loan. Usually, this means you ought to be in employment, earning a specific amount each month usually around #750 and have a debit card with which the loan may be repaid. Are you searching about same day logbook loans? View the before mentioned site.

These loans are just short-term solutions and are usually for a maximum of 60 days. If you’ve got a relatively new vehicle which is clear of finance you might have the ability to get a logbook loan. You do not need to hand the car over; you maintain the use of the automobile but release some of the equity in it to secure the loan. Since the loan is secured on the vehicles paperwork, you do not have to be credit checked to find this type of loan. Log Book Loans are available for between #100 and #50,000 and how much you can borrow depends on the make, model and condition of your car. Usually, to find a logbook loan, you will need to be the legal and registered keeper of the car. Also, the vehicle should be under ten years old and free or nearly free of finance. Some lenders require that the vehicle needs to have a current MOT and tax to give.

Logbook loans are for a longer duration than payday loans usually up to two decades. Doorstep lenders can provide cash loans of up to around #500 which is accessible to even those who are unemployed. Loans are handled by local agents who call at your address to collect the payments weekly. Such loans are done entirely in cash, the payments are fixed, and the broker offers a handy collection service for payments. These loans can be repaid over up to a year. Lastly, if you will need to borrow more than #500, then a guarantor loan is a good option for you. These loans which could be up to #5000 or so, require you to have a guarantor that will guarantee you are great for the loan. If you can’t repay the loan, the guarantor will take over. Finding a guarantor isn’t always easy, but a relative or close friend may be willing to help. Generally, they have to be over 23, a homeowner and to have great credit.