Welcome to FOE Loans
Need cash in a hurry and don’t know where to turn?
Bad credit rating stopping you from securing a loan?
You never know when you will need money in a hurry. Unfortunately, it can sometimes be very difficult to come up with a sum of cash at the drop of a hat.
Luckily, if you own a vehicle, a logbook loan can help you to secure cash in a quick, 24-hour turnaround.
Your paid off vehicle has value! That’s why you keep paying a fully comprehensive insurance on it. You can use this value to your benefit, securing a loan which in turn can be repaid over time.
How logbook loans work
Well, your vehicle will secure you a loan, but there are a number of considerations before that loan will be granted. Perhaps most importantly, your vehicle needs to be fully paid up and you need to be the registered owner.
Loans are then based on the condition of the vehicle, the mileage it has covered as well as your monthly income. You will need to come and make an appointment at our office, bring some paperwork, fill in the relevant documents and we will proceed with your loan application from there.
To apply for our logbook loan, we require a number of documents. These are all crucial, so don’t’ forget. Most important of these is your vehicle logbook or V5. We keep this for the duration of the loan.
Other information we require include the vehicle MOT document, all relevant documents showing the vehicle is comprehensively insured, personal identification (driver's licence, identity document or passport), proof of address (a utility bill will do), bank statements (for the past three months) and pay slips (for the past three months).
You will have full use of the vehicle for the duration of the loan. We require that you have full and comprehensive insurance to cover it for any accident or weather damage that might occur during this time.
Your logbook acts as a security buffer, especially if you choose to stop making your loan repayments. We can then legally sell your vehicle to recoup any money that is still owed on the loan.
Once approved, your loan will be paid into your bank account within 24-hours. The whole process itself takes no longer than 48 hours in total before you know if you have been approved for the loan or not.
Should you have any further queries, be sure to contact one of our staff members or visit http://www.simplelogbookloan.co.uk/ for more information.