With household costs rising, wages being cut and the country’s economy still far from recovered money remains a worry for many people across the UK. The good news is that when the banks doors are closed, there is another way to secure financial help when it is needed.
A new kind of loan
People struggling to make ends meet may be under the impression that choices are limited when it comes to getting their hands on extra cash. However, if you are a car owner a number of companies are now offering loans based on the value of your vehicle, with a range of benefits:
Companies that provide these loans are able to offer credit in an alternative way to other lenders. Therefore, if your credit report is less than perfect it does not necessarily mean you will be refused finance. Even companies offering the cheapest car logbook loans understand that there are sometimes valid explanations for poor credit and are willing to support customers as a result.
The amounts available with car logbook loans often exceed those on offer from traditional lenders and short-term loan providers. Having searched for the cheapest car logbook loans on the market, the time you have to repay your loan is generally flexible and based on your individual needs as a borrower.
To secure a loan of this type, your car will have to be assessed by an agent who will visit you at your home. This means that car logbook loans are a far more personal undertaking than other finance avenues. Many clients really appreciate the interaction and support provided that is entirely absent from other lending opportunities.
A further benefit of using small and friendly car logbook loans companies is that once your money has been paid back it means you will have forged a positive relationship with a firm you can trust. Although the thought of having to take out loans repeatedly is not exactly ideal, at least in this situation you will have the ideal company to turn to.
A loan with no limits
For those familiar with borrowing, it will come as no surprise that some credit comes with restrictions. But with a car logbook loan, the money you receive can be spent however you see fit. For many, the loan will be a way to ease the pressure of household bills, get any essential DIY underway or support loved ones in need. However, with a car logbook loan the choice is yours it might be a much-needed holiday, a great day out or some other little slice of luxury. The company will not restrict your spending as long as you keep your end of the bargain and repay your loan on time.
The choice is yours
No one wants to be in debt, but the worst thing to do is try and ignore your financial difficulties. A car logbook loan will not be for everyone but if your money problems are mounting it is best to find a secure and solid solution now and not later.
Mary Yohanan works for a charity advising those with debt management problems. She recommends shopping around to find the cheapest car logbook loans available in addition to seeking independent advice if needed.