Have you run low on money but are in dire need to take care of financial matters? Are you finding it difficult to get a logbook loan from other lenders in your time of need? If so, you have landed on a company that is designed to help you out of your dilemma. Potteric Carr Loans is a renowned logbook loan quote website designed to help you get the emergency financing you need.
What is a logbook loan?
A logbook loan refers to the amount lent to a borrower against a vehicle. The borrower is offered the cash applied after signing a bill of sale over their car and handing it to the lender. Usually different logbook loan lenders have different policies regarding the amount a borrower can access and the amount one should pay back. The most important thing about logbook loans is that you cannot be offered one if you do not have a logbook document for the car you want to use to secure the loan.
Logbook loans through Potteric Carr Loans require minimal eligibility terms. This has opened up the opportunity for getting logbook loans to a large number of individuals. All you need to apply for a logbook loan through Potteric Carr Loans is:
- You should be a car owner
- You must be a UK resident
- You must be 18 years of age or above
- Your car should be clear or near clear of debt obligations
If you meet the listed requirements, you are free to fill the details required in the site for a logbook loan quote. This action will pave way for you to access logbook loans which have proved to be better than cash advances or payday loans. The later have proved to be more costly and can only enable you access a little amount of money.
More than just money
We care about our customers and this is evident in the kind of services that we give our clients. We offer financial solutions as well as customer advice. This has been to borrowers as well as those who contact us just to make inquiries about our financial services. If you have any inquiries regarding logbook loans or other related financing services, this is the right place to be.
When filling a logbook loan application, our customers are expected to complete personal details in the form. The filling of the details does not put you under any obligation in taking up the amount filled. For those who would like to take up the loan, Potteric Carr Loans takes up measures that protect you as well as the company. The vehicle will be checked for outstanding finance so as to ensure that there are no other interested parties involved in the vehicle. In case there is a near completed finance obligations, arrangements can be made with the lender to settle the debt thus leaving you with only one debt to repay.
Logbook loans pros and cons
Logbook loans facilitated through Potteric Carr Loans are cash against the borrower’s car. As a borrower, you will be required to sign a bill of sale and hand it over to the lender before receiving the money. The whole logbook loan process has brought out both pros and cons in this loan type. They include:
- There is easy access of money for all sorts of individuals. Those with a bad credit history, CJJ, or even those bankrupt can access logbook loans easily which would not have been the case in other types of loans. As long as there is a source of income that can payoff the loan, an applicant can access it
- It has proved to be a quick source for cash. This has made logbook loans the best sources for emergency needs. The loan applied can be accessed in as fast as within the same day of application.
- Logbook loans offer the borrower a large borrowing limit. The car one owns can determine the maximum limit that one can access. When compared to payday loans of cash advance, the maximum limit is higher.
- Unrestricted use of the money is a feature of logbook loans. The borrower is not asked how the money will be used and can put it to use however one likes.
- The borrower gets to keep the vehicle even after using it to secure the loan. The borrower gets to use the car everyday as if it was not used to secure a loan. This removes the need to worry about transport after taking up the loan.
- The loan rates are particularly high since this loan is mainly designed for individuals with a poor credit history. The high rate of interest is because this loan is classified as a high risk loan where the borrower could have trouble in repaying the debt. The rates are however not as high as they are in payday loans
- There is the risk of losing your car in case you default in payment or miss on a couple of payments. Since you had signed a bill of sale, the lender has the right to repossess the car and sell it to recover the loan balance. Find out more about the logbook loans bill of sale by clicking here.