You need to
borrow some cash - fast.
Perhaps you've
been refused by your bank or building society. Perhaps you've got a poor credit
history, such as CCJs.
Don't despair -
there are many loan providers who will lend you money. Two of the most popular
types of loans are logbook loans and payday loans. So, which one should you
take out? Which one is best for you?
We'll help you
decide. We'll start with a quick outline of each type of loan...
Logbook
loans
These are a quick
and relatively simple way to get credit. They're suitable for those with a poor
credit history, as there is usually no credit check involved. As long as you're
over 18, a resident of the UK and you own a car or other vehicle, you could
borrow up to $50,000 depending on its value. Here's what you need to do:
- visit a
local branch with your vehicle
- show proof
of ownership, tax, insurance and MOT
- collect your
money when your loan is approved
- leave your
logbook with the branch as security
- pay off the
loan in instalments, while continuing to use your car as normal
- receive your
logbook back once the money is fully paid off
- make sure you don't default on the loan, or you could lose your car
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