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Frequently Asked Questions |
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What is a logbook loan?
Logbook loan is a finance option which is acquired against the logbook of a vehicle. A finance acquired through such an option may be used in anyway a borrower likes.
Who can avail logbook loans?
Anyone owning a vehicle may avail logbook loans provided, the borrower does not have any outstanding logbook loans to repay.
How cheap are logbook loans?
As Logbook Loans is an agency which associates with a number of lenders, the lending rate of logbook loans are decided by the individual lenders and not by us.
What are the processing charges with it?
We employ minimal processing charges while handing out logbook loans to our borrowers.
What is the difference between a logbook loan through this website and others?
Promptness of the approval process, easy documentation and lower APR are some of the main differences that a borrower may avail through this website.
I have bad credit, can I still avail logbook loans?
In majority of times, a loan is sanctioned on the basis of the credit history. But that does not mean that a borrower cannot avail a logbook loan. Over here with Logbook Loans, a borrower is able to avail the loan even if he or she has bad credit history. However the APR applicable may be bit higher than in normal cases.
Does my credit history have any impact on APR of logbook loans?
Yes, your credit history does have some impact on APR of logbook loans however it is miniscule in nature.
Are my personal information kept confidential?
Yes, Logbook Loans keep your personal information private and confidential.
How cheap are logbook loans through Logbook Loans?
Logbook loans are cheap and comparable to any other logbook loans attained from elsewhere.
Is a logbook loan risky?
Yes, it is risky to some extent. It risks your vehicle in the form of repossession by the lender if repayment is not made in time.
What is the minimum number of days taken to process the loan amount?
Usually a logbook is prompt and may be sanctioned within 24 hours of the application process. |
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