Who says you can't get easy credit..

[Dieselman]

Easy as owning a car..

APR, what's that..??

http://www.logbookloans.co.uk/

 

[robert.saunders]

I hope Hawk takes note

 

[MBManInKen]

Please note, you can make significant savings if you choose to settle your loan early

 

[Dieselman]

They have a Tips section for looking after your money.
Tips for reducing depreciation.

http://www.logbookloans.co.uk/news/Tips-for-reducing-depreciation.htm

No 1 Tip.
1. Avoid crashing!

 

[MBManInKen]

No 1 Tip.
1. Avoid crashing!

Ha, ha, ha! That is brilliant!

 

[Frank O' Phile]

Can't believe the APR rate

In the example they use, I reckon that if you can afford the repayments then you dont need the loan.

 

[PXW]

I thought that level of interest was illegal If it isn't, it damn well should be How desperate must you be to take this sort of finance - talk about picking off the weak and sick from the back of the herd....

 

[Dieselman]

Not illegal at all, as long as the APR is clearly displayed. A number of finance companies offer 'Payday Loans'.

 

[gina2201]

That's horrendous!

 

[scumbag]

having read that site, they do say on more than one occasion, that paying it off quickly is the way to not have as much interest. You really would have to be a bit simple to not see that this is an expensive way forward.


But it may be of use to someone over a short term. It doesn't look like to add in a load of additonal charges.

I guess you would need to be desperate though. It is a bit last resort, and I would think you have various options open to you to sort out your financial issue, before resorting to this.

 

[Chattonmill]

I have a debt management company and come across Log book loans frequently, they are a very aggressive company should you fall behind on payments. They will only loan you a small proportion of the cars value and reap the benefits of repossesion at the drop of a hat.
Unfortunately there is little that can be done when someone has signed over the rights to their car.

 

[Rory]

Haven't you see "pay day" type loans? The APR's are thousands of %.

 

[Chattonmill]

Then you have Provident and Shopacheck who charge around 100%

 

[Frank O' Phile]

All seems reasonable, bargain in fact, compared to this bloke.

http://news.bbc.co.uk/1/hi/wales/7621251.stm

 

[Colin_b]

Haven't you see "pay day" type loans? The APR's are thousands of %.

Typical APR 1845%

http://www.paydayuk.co.uk/indexga.htm?p=puge2&aid=payday loans&gclid=CLaRv4j65ZUCFRxNagodHn5Iew