Do you want funds for your important financial demands? Looking for a hassle free loan scheme? Are you a car owner? Yes if you are a car owner it will be easy for you to get a sufficient financial support. Wondering how? This can be possible by simply applying for secured loans against car. These loans are secured against the logbook of your car. Here you need to pledge the logbook of your car to the lender till you pay back the loan in full. A logbook refers to a legal document issued by Driving and Vehicle Licensing Agency in the UK. Logbook contains details like owner of the car, registration keeper of logbook, model number, engine number, car color and current registration mark.
Secured Loans Against Car is a perfect financial tool that can help you to fetch good amount of finance for meeting your several unavoidable needs. The needs can be like home renovation, paying off old debts, home improvement, education, wedding expenses and so on.
Depending upon the value of your car you can procure funds in between £500 to £50,000 till the repayment duration of 5 to 7 years. You can enjoy the pleasure of driving your car anywhere without any lender restriction. You must keep the car in good condition.
You are required to fulfill the following eligibility criteria for the approval of secured loans against car:-
§ You must be over 18 years of age
§ You must have full-time employment and must have stable source of income
§ Your car must not be less than 8 years old
§ Your car should be clear from all dues and financial claims
§ Your car must be taxed and insured
§ The logbook of your car must be in your name
Those people with blemished credit score can also apply for logbook loans without facing any obstacle. This is because these loans are free from any credit verification process.