Logbook Loans For Cars Over 10 years
Logbook loans are a great way to increase the chances of loan acceptance since your vehicle will be used as collateral against the amount borrowers.
There’s a common misconception that logbook loans for older cars are difficult to get, but the reality if that there are hundreds of lenders who are happy to accept older, classic and vintage vehicles.
Logbook loans for older cars are ideally used to secure funding when more traditional options aren’t available. Rather than focusing solely on your credit score, they’re more focused on your ability to repay the funds that you’d like to borrow.
How Do Logbook Loans For Older Cars Work?
Logbook loans are a great way to source finance by using your vehicle as security. The lender will become the legal owner of your car whilst the loan agreement is in place, although you’ll still retain complete, unrestricted use of the vehicle so long as you’re meeting your agreed repayments.
They are typically taken over an 18 months period although there are companies in the market who offer greater flexibility on repayment times.
How Can I Apply For A Logbook Loan?
Logbook loans for older cars are just as easy to get as they are with newer models. The lender will make a decision on the value of the car and this will reflect the amount that they’ll lend you. It all starts by comparing logbook loans online with CreditRaters.com