Logbook loans are loans that are secured on your vehicle, so the lender owns your vehicle till the time you don’t repay the amount of the loan with interest. But, is logbook loan safe to take or not? It is not as simple to say that the loan is safe or not. These loans have a lot of pros and cons.Firstly, it provides a lot of option for the borrower that other loans do not offer. The loan is really simple to get and requires minimum qualification to fulfill for getting it. It is also available for the people who have bad credit. But the interest rate of these loans is very high as compare to other types of loans. Also the terms and conditions are not justified and it involves a lot of risk for the borrower, because in case if the borrower do not pay the installments in time it may be possible that he loses his vehicle. The qualifications are very simple but in order to get this loan one need to fulfill two qualifications one that he has a steady source of income and the other is that the vehicle belongs to the borrower.
Eva Sheridan
(PR Manager)
Company URL: http://www.extraloans.co.uk/
Address: 601, International House, 223 Regent Street, London
Phone: +44-2033070288