£400 – £50,000 Instalment Loans: The Benefits!
Flexible instalment loans with repayment terms to suit you from Logbook Loans!
These days there are so many types of loans around that it can all get rather confusing. For some, the concept of a loan is that it has to be paid back all in one go. However, many loans these days are instalment loans which are much more flexible.
An instalment loan is a short term loan by which you can borrow money over a period of time that suits you. An instalment loan is ideal for those times when you need some additional funds – perhaps for a special occasion, a family emergency or to consolidate existing debts. There are various advantages to an instalment loan rather than either taking a loan that you have to pay back all in one go (for example a Payday loan) or using a credit card or overdraft.
Read on to see how an instalment loan could be the answer to your situation!
Borrow from £400 to £50,000!
With Logbook Loans you can borrow from as little as £400 as an instalment loan. The upper limit of what you would be able to borrow depends on the affordability of the repayments. To see how much your payments would be have a look at our easy loan calculator. Our loans are secured against a wide range of roadworthy vehicles – including cars, vans, motorbikes and vintage cars. We retain your vehicle’s “logbook” V5C for the duration of the loan and return it to you once the loan is repaid.
Receive your money in cash
If your loan is up to £5000 you can receive your money in cash at any one of our 58 branches. You will also usually be able to get your cash the very same day you apply for a loan! Otherwise we can pay the money direct into your bank account.
Flexible loan duration
When you take an instalment loan with Logbook Loans you can choose repayment terms of from 12 to 36 months. You can pay off your loan earlier than originally agreed, at any stage.
Flexible payment frequency
As well as flexibility with the duration of the loan we are also flexible on the frequency of repayments. You can make repayments on a weekly, fortnightly, 4-weekly or monthly basis – or any other frequency as long as we receive each payment in full on or before their due date.
Flexible payment method
You can repay us by debit card, bank transfer, cheque or paying in book. What most of our customers find most convenient is to set up a continuous payment arrangement (CPA) with us, which allows us to take payments directly from your debit card when they are due.
No hidden fees
When you take out an instalment loan you will have clear information about how much you have to pay and when. The interest rates will be explained to you up front and there are no set up fees. This is unlike bank overdrafts where you can be charged exorbitant fees without notice for slightly going over your limit, or credit cards where the interest on your balance can creep up without you noticing. In both these cases you can end up just paying interest and fees without actually reducing your overall debt, whereas with an instalment loan you pay the whole loan off gradually at a pace you can afford.
So there are lots of reasons why an instalment loan is a much better option than relying on overdrafts or credit cards to see you through an expensive time. But if you have had poor credit in the past, you may be worried in case you won’t be accepted for an instalment loan.
That, again, is where Logbook Loans are different! We consider each case on its merit and because our loans are secured against your vehicle this means that we are often able to offer you a loan even if you have been turned down by other lenders.
So if an instalment loan seems to offer you the financial solution you are looking for then why not contact Logbook Loans now to discuss your options – and the money could be yours today!