Review of Logbook loans

If you need a loan that is typically more than a payday loan (more than around £750) but you don't own your own home, don't worry!  Logbook loans are loans secured on your car, the ultimate in no credit check cash.

If you have even a small amount of bad credit in the form of missed payments, defaults or CCJ's its likely that most high street banks and traditional lenders will reject your application, online or offline.  With log book loans, often with no credit check, you can unlock the money tied up in your car AND still be able to get around!  Its really easy no credit check cash with all the benefits of keeping your car.

If your car has little or no finance on it, thats all you need to get a secured logbook loan.  Sometimes the money can be in your account the same day in the form of a CHAPS payment.  For larger loans, it may be necessary to get a "tracker" fitted to your car, so the lender knows where it is so if you default on the loan, the lender can tow it away and sell it at auction for a cheap price.

To get a log book loan you will need to legally own the car (have a bill of sale) and have the V5 registration document.  Some log book loan compaines who secure debt on cars or vans have simple online applications, but generally they are very easy to qualify for.

If you are desparate for cash, but you know you have cash coming soon, for example if you have exchanged contracts on your house, and are waiting for the money, or if you are expecting money from a bad credit re mortgage, a logbook loan could be an ideal solution for a short term loan over £750.

In the USA, the way to get a loan on a loan on your car if you have bad credit history is to look for a no teletrack loan, or a no telecheck loan.  These loans do not look at your history.