Log book loans – your car is your asset to leverage

June 29, 2010 - PRLog -- London (Shakespeare Finance) : There are many people now days who are right now not going through a smooth phase of life and are in desperate need of funds and want to raise a loan but they don't have anything to pledge for but now they can avail a loan against their car papers as it is also considered to be an asset by the lenders who are engaged in the activity of providing log book loans.

Logbook loans also comes in the category of secure loans as in this case the papers of your cars are considered to be an asset lying with lender so the interest rates charged on a log book loan are lower than other formats of the loans. The logbooks or the documents of the car act as a guarantor on behalf of the lender regarding his details which involves  name and address, registration details and insurance details of the car owner or the borrower.

Even people with bad credit history can apply for a logbook loans because the lender has hardly anything to do with your bad credit history because in this case you are raising the loan against your car and in case you default in your payments the lender is equipped legally to take possession of your car. So in that manner he is insulated to a larger degree of your bad credit and can extend a loan to you at flexible terms and conditions.

Normally the borrower has to comply with few following terms and conditions to secure a log book loan like The car should be less than 8 years old and the logbook must be possessed in the name of the borrower and the car needs to be free from all the financial claims, taxes and insurance dues and if you are fulfilling the criteria you can always avail a loan against your car from a retail lender as well as from a on line lender and the choice is totally yours.

For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit : http://www.shakespearefinance.co.uk/logbook-loans.html

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For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.shakespearefinance.co.uk/logbook-loans.html.