logbook loans

fairmorn308

hi guys

has anyone ever had or done a car logbook loan before.?

bit more info would be great on the subject etc.

grumbler

While waiting for other replies have a read of this thread:

Should a Passport ever be given for a loan?

fairmorn308

UPDATE

The way i have worked it out that is they send one of there agents round to see that all paper is all above board. mot / tax etc then they go from there.

Any more info would be great from you guys

Reason i ask is that i am needing some quick cash BUT my credit rating is very low and unable to borrow for a short term. Also i was planning on saving for the matter but i need the money quicker than i 1st thought.

fairmorn308

UPDATE

They can lend you upto 50% of trade value of your car.
weekly repayments
Option to start to pay back straight away or start 4 weeks later
Crazy interest rate
Once company has seen the MOT / Tax / Insurance and V5 they will write you out a cheque

Freddie_Snowbits

Please Please check what you are getting into before taking their cash! Remember: -

Rule No:1, DON'T BORROW

Rule no:2, HOW MUCH IS THIS GOING TO COST ME.

Rule No:3, Go to at least three loan providers!

Rule Ni:4, See rule no:1

fairmorn308

if you read all my posts.

All i was doing was asking about this type of loan and then replying telling you guys what i have found about it. didnt say i was going to take it on