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Vehicles Suitable For LogBook Loan
Although logbook loans are a commonly used term these days there are still a lot of unknowns about what kind of vehicle is suitable for a securing against the loan.
All these vehicles have the following key qualifying criteria in common:
1. They are all free of finance at the the time the loan was taken out.
2. They are all owned by the client outright.
3. They are all taxed, and MOT'd and insured.
The crucial point in all of this is that they all meet a minimum valuation amount against which V5 Solutions can offer a loan.
What determines the vehicles value? Principally it is the vehicle's make, model, age and mileage. Typically the vehicle should be less than 8 years old though some vehicles will hold their value better than others. An Audi A3 will hold its value better than a Ford Mondeo of the same age.
Once it has been determined that the client has a vehicle suitable for a log book loan it is then up to the borrower to decide on how much will actually be borrowed. The value of the vehicle determines the upper limits and hopefully the borrower is looking for an amount between this and the lower amount of £400.
So for example if the vehicle is valued at £2100 V5 Solutions can offer up to about £1500. The borrower can therefore borrow between £400 and £1500. The loans are arranged and paid out within hours making the service one the fastest and simplest of its kind.
The www.V5Solutions.co.uk website provides free quick and easy logbook loan valuations for its clients. The service is available 24hrs per day 365 days per year and is available to clients throughout the UK. To see how much you could borrow against your vehicle simply apply online at www.v5solutions.co.uk for a logbook loan offer.