(MENAFN Press) (EMAILWIRE.COM, December 16, 2012 )
London, UK --
Logbook Loans Centre, a UK-based company that provides its customers with logbook loans, has just announced that it is now offering same day processing. This news comes at a perfect time, as many people across the UK could use some extra funds in order to complete their last-minute holiday shopping.
For some time, one of the most popular types of loans in the UK is a logbook loan. In addition to helping with holiday shopping expenses, logbook loans are often used for bills, emergency expenses and just helping to make ends meet.
The process of getting a logbook loan is fairly simple and very straightforward. Applicants who work with Logbook Loans Centre borrow money in exchange for their vehicle's logbook, which is then used as collateral. Because the loan is secured by the vehicle's logbook, customers can have access to many advantages that are not typically part of an unsecured loan.
Since your loan is secured by your vehicle, you are able to get approved for much more than you would typically get approved for with an unsecured loan, an article on the LogbookLoansCentre.co.uk website explained, adding that as an example, a typical payday loan or other unsecured loan is generally capped at around 1,000.
You can get approved for logbook loans for as much as 10,000 or more in some cases.
Another advantage to a logbook loan is that they typically come with a much lower interest rate. Because the lender has tangible recourse in case a client defaults, he or she will typically feel more comfortable setting a lower interest rate.
In order to start the process of getting a logbook loan, people simply need to visit the website and fill out a free quote form. Anyone who is 18 or older, is a resident of the UK, and owns a vehicle that is less than 10 years old is welcome to apply. The website also features in-depth and educational articles about logbook loans. For people who are new to the process, these articles can be very helpful and typically answer most questions that applicants have about the process.