V5 Loans Review – Have Bad Credit Or Working For Yourself? Read This Here
You have exhausted all of the options available to you – you simply cannot find anyone who is willing to give you a short-term loan. It might be that all of the business that they want to do with you is giving you a credit check, and you can’t have that, since you have a bad credit history. Or maybe your credit is good, but as you’re working for yourself, no business is willing to extend their payday loan to you.
By the way, if you just want to take a look at the lender we’re reviewing, go here: Logbook loan.
Sometimes it may seem that you won’t ever get a short-term loan anywhere. But do not lose faith. What you have been looking for is something called a logbook loan. This means that you secure the loan against your personal car, and you still get to keep and use it. Only the log book from your car is taken away – thus the name. Usually there are loans available for many types of vehicles, not only cars, but also for example motorcycles.
If you ever do decide to look into logbook loans, you might get overwhelmed by all the lenders that are offering their services. How do you know who to go with? Well, there is one good UK company with whom we could definitely recommend that you do business with. This lender is known by the name V5 Loans, and they are a reputable business.
Yes, they’ve only been operating since the year 2008, but they have established themselves well and you are in secure hands.
Here are the general operating conditions for all of the loans that they pay out. The loan amount can range from anywhere between £500 and £20,000, so even individuals with extended finance needs are serviced. The APR (annual percentage rate) is 439% – but this does not mean the flat rate of interest. The APR is not calculated in a straightforward manner, so sometimes you can pay as little as £1107 for borrowing £1000.
You need to be the legal owner of the car, and the car must not be older than 8 years (with one exception – it can be 10 years old if it’s valued at £1200 or more).
V5 Loans is a good choice to go with for a logbook loan, and we are happy to recommend them. Use this moment to take a look here: Log book loans or here: V5 loans Review.
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