Payday Loans and Logbook Loan are the most popular loan products in the United Kingdom. As both the types aims on the same market, there are a lot of similarities in them. Both types are short-term loans and for both types, credit history check is not required. Both the types charge a rate of interest on the loan amount. Both the Logbook Loan and payday loans are best for those people who don't qualify to apply for a loan from a traditional institution.There are even differences between Logbook Loan and payday loans, which makes one of them stands to be a winner. In the case of logbook loan , anyone can borrow against a vehicle, that can be a car, van or a motorcycle owned by the loan applicant. The logbook loan requires the applicant's vehicle to be in good working condition and have proper insurance. The best part of Logbook Loan is, the applicant is allowed to use their vehicle during the tenure of the loan.
The point that makes the Logbook loan to be a winner is, it is extremely difficult to borrow huge amount of loan thru payday loans .Where as, the logbook loan lender has the capacity to extend a loan up to 75% of the value of the vehicle. And with the Logbook loans ,one can borrow between 500 euro to 50,000 euros. To know more advantages of Logbook Loan ,check at http://logbookloanstrust.co.uk .