Car Logbook and V5 loan companies

Concept of logbook or V5 loan

First of all you should know what a logbook is. A logbook is a V5 Registration document, and this is the most important piece of paper for the ownership of a car. A car logbook is a document issued by the Driver and Vehicle Licensing Agency (DVLA). This document is used as a proof of ownership of the car. Even though it can be considered that the document is there to track the owner of the car. At the time of sale or purchase of the vehicle, the document is sent to the DVLA and then sent to the new owner. If you do not have a V5 logbook, then you must apply to the DVLA for replacement. A car purchased without a logbook can be considered as a stolen car.

A logbook loan is that loan which you get when you use your car as the security. You have to hand then over the logbook to the moneylender until you repay the loan amount with the interest. Now the borrower becomes liable to repay the loan on time, and if he doesn’t, then the car is sold off. The following are the reasons for which logbook loan is good:

    A better alternative: Logbook loans are better alternatives to overnight loans. Overnight loans will charge you a huge amount of interest rate. Logbook loans, on the other hand, come with very low-interest rate and are much more reliable.

    Even bad credit history is also accepted: Logbook loans do not consider your history because, you have your car to act as a security. When people have a bad credit history no one is ready to lend them, but, in this case, there is an ease of access to the quick loan.

    No early repayment fee: If you have the money to clear the loan amount much more quickly, then you can simply clear your loan. Logbook loans do not charge you extra money for earlier repayment of the loan.

    Your car is still yours: When you take a logbook loan, your car acts as a security but even then you do not need to submit your car with the lenders. You still have the right to use your car.

There are many logbook loan companies. You can visit their website their website anytime to know more about them. You can log on to logbookcalculator.com, Logbook Calculator is not loan company itself, it rather compares all loan providers and refers customers to companies which are registered with the Office of Fair Trading. They also hold a Consumer Credit License.

How does Logbook Calculator help?

LogbookCalculator.com/ refers to customers to lenders for logbook loans. They take your logbook loan application and present it to an appropriate lender. They have the best lenders who lend you at a competitive rate. Their website is completely free to use. They do not oblige you by any means to take loans from the recommended lenders. They simply bridge a path between the borrower and the lender.