Applying for loans is a stressful process, especially for someone with bad credit. Having experienced several rejections already, you are probably not looking forward to your next application. However, not only do logbook loans have high approval rates, the entire process is so easy, even first timers will breeze through it! Here is a step-by-step guide on how to apply for a logbook loan.
We understand if you don't want to jump right into it; caution is a good thing when it comes to money matters. Our website is filled with informative articles that will help you with your decision, like the advantages and disadvantages of logbook loans, and other things you need to keep in mind when taking out a logbook loan.
All information regarding our services is readily available on our website. However, if you want clarifications, you can always send us a message or give us a call. You can even ask for a quote, or an estimate of your payload. Remember to be accurate and honest when giving information about your vehicle so you will get the most precise quote.
Our application form is located right here on the Designer Loans website. You don't have to rush down to our offices just to file an application. You can fill it out to your leisure even on the weekends and the wee hours of the morning. Take your time to fill out the application carefully. Remember to answer all mandatory questions honestly.
Once you send in your application, simply wait for our call. We will need to discuss a few more points to make sure we match you up with the best lenders. Different lenders have different requirements, terms and arrangements, and we'll choose those that are in line with your current situation.
You will then get phone calls from the lenders themselves. You will get an overview of their offers and terms. Since you're not stuck with only one, choose lenders wisely. During this time, your car will be evaluated. They will also take a look at your documents and credit history. Although lenders of logbook loans accept people with bad credit, the amount you get will depend on your car's value and your credit report.
Depending on the lender of choice, you might be asked to head on over to the nearest branch. However, some lenders deploy vehicle evaluation experts to the home's of their clients. This is a lot more convenient and a feature you should go for. Once the final payload rate has been given, it's up to you whether it's to your liking or not. If you agree with the sum, then all that's left to do is to finalize all documents regarding the loan.
Once all documents are finalized and both parties have agreed to the deal, the lender will now transfer the money over to your bank account. Some lenders even hand out cash if the loan amount is smaller than £2,000.
So there you have it! A process that is not only easy, but if you immediately find a lender whose terms you agree with, the entire transaction can last only a day. That's quick money without the unnecessary stress.