| Log Book Loans are the trend setters of secured | | | | unpaid, or where the vehicle ownership has already |
| vehicle finance. This requires the borrower to keep the | | | | been pawned for other loans.o Taxes and insurance |
| logbook with the lender until the loan amount has been | | | | due on the vehicle must be paid in full before the |
| completely repaid. Logbook is the document issued by | | | | vehicle logbook is pledged for logbook loan.o The |
| Driver and Vehicle Licensing Agency (DVLA). Logbook | | | | vehicle must have passed the MOT test for being |
| has several entries about the vehicle relating to the | | | | eligible for this loan. Every British vehicle has to undergo |
| current registration mark, VIN number or the number, | | | | a test after every 3 years to ensure that it is safe to |
| and details about the registered keeper of the logbook. | | | | ride.o The loan borrower must have a regular income.o |
| These loans demand logbook as security and hence it | | | | The logbook must be in the name of the borrower. |
| is easier to get money. Collateral for logbook loans is | | | | While the car or vehicle may continue to be in |
| the logbook of your car. These loans are available for | | | | possession of borrower, it is the logbook that is kept |
| amounts ranging from £500- £50,000. | | | | by loan provider for the period until which loan is repaid. |
| Borrowers who want to have a logbook loan need to | | | | Anyhow, the borrower must maintain the vehicle in |
| fulfill certain basic criteria. These are as follows:o The | | | | good condition. Credit checks are not involved in this |
| vehicle must not be more than 8 years old.o The | | | | deal. |
| vehicle must be clear of any finance that is remaining | | | | |