Why Not Let Your Car Pay for your Christmas?
Get quick cash for Christmas from Logbook Loans…
As Christmas draws ever nearer we are all beginning to feel the pinch. We hope that the advice in our recent articles Be the Host with the Most This Christmas and Have Yourself a Merry Little Christmas have helped you to plan more carefully and save money in the process.
But what if you still find yourself running short? This can easily happen despite your best efforts, particularly if family and friends are putting you under pressure to spend more money than you are able to afford. It can all get very difficult. So where can you get some quick cash for Christmas?
Well funnily enough, your car may hold the key to quick cash this Christmas. A logbook loan may be the answer.
A logbook loan is a personal loan that is secured against your vehicle. By vehicle we mean not just a car but a motorcycle or van or vintage car. Your vehicle has a registration document – a V5 – to prove that you own it. This document is also known as a logbook.
A logbook loan is secured against the value of your vehicle. How this works is that you keep the vehicle and have full use of it as normal, but the lender holds on to your logbook (ie your V5 registration document) for the duration of the loan.
The advantage of a logbook loan is that because it is secured on your vehicle, the cost (APR) of the loan is usually lower than a normal personal loan. It may also mean that a lender is more likely to accept your loan application – even if you have poor credit history – because the loan is secured on your vehicle. In the extreme event that you were unable to make loan repayments for an extended period of time the lender could repossess your vehicle. So from their point of view, lending money to you is a lower risk than an unsecured loan.
So as long as you are confident that you can afford to take on loan repayments at this time, a small logbook loan could be a way of getting quick cash for Christmas.
The advantages of taking out a logbook loan with Logbook Loans is that you are able to get money quickly – often on the same day that you apply. You can borrow between £500 to £50000, depending on the value of your vehicle and pay it back over a period of 12-36 months. There are no charges either to set up the loan or if you decide to pay it back early.
If you think that a logbook loan may be the ideal solution to your Christmas cash flow crisis, then Logbook Loans may be able to help you. Use our online loan calculator to work out how much you want to borrow and what the repayments would cost, then get in touch with us either online or by calling 0330 400 4137.
We hope that you have a wonderful Christmas and that if you and your family do need quick cash at this time we are able to help you.