Welcome to Satis Loans
Thanks to logbooks loans, you do not need to sell your car to realize its full value. With a logbook loan, you can borrow money of up to the full value of your car against its V5 registration document. This means that the loan is secured against your car, and the lender becomes the legal owner of your vehicle until you finish repaying.
How they work
Logbook loans have a very simple procedure. First, you need to make a request by visiting a lender or filling an online application. After filling out the paperwork and determining the amount of money you need, you will then hand over your logbook as security for the loan. Itís also important to note that the amount of money you can borrow is equivalent to the value of your car; the higher the value the more money you can get from it. Most companies have a 12-month minimum when taking the contract. However, this varies from company to company so ensure you enquire from your lender first.
Online logbook loans
Logbook loans are available all across the high streets and internet. However, online companies are mushrooming and are becoming a favourite of many. This is because online lenders are also genuine and follow the legal standard as any other lending company. Additionally, you do not need to leave the comfort of your home, as you can easily obtain the loan via an online application. This makes it a better and faster choice.
But before making your choice, just ensure that you go for a reputable dealer. One monumental aspect to look for is if theyíre members of the Consumer Credit Association (CCA). The CCA regulates lenders all across the UK. Also ascertain that they are regulated by the Financial Conduct Authority (FCA).
To ensure you get a good deal and not get into a scam, carefully read the FAQs on each website and understand the services they offer to gauge whether itís really what you need. Different providers have got different rates so youíll have to compare as many websites as possible to get the best rates available; donít just settle on the first website you see. It is also important to note that a genuine online company that values you as a customer, will first give you a call before approving your loan.
Bill of sale
A logbook loan is a modern day example of a bill of sale. Itís the document you sign when taking out a logbook loan, and it gives the lender legal ownership over your car. If you default payments, the lender will automatically repossess your car. Furthermore, if the lender has got this document, they would be in a position to take your car without even obtaining a court order. Thatís why you need to be careful before taking such a loan. Pay them on time to avoid losing your car.
At Satis Loans, we can offer you some of the best deals and we go through great lengths to ensure youíre fully satisfied. Simply fill in the application below and youíll be on your way to getting the best services yet. For comprehensive info on logbook loans, be sure to check http://www.justlogbookloan.uk/.