Some give cash loans against land and property, some against savings and some against car or other vehicles. Logbook loans are loans that are given against cars and other vehicles.
Some finance companies make it very easy to give loans against your own vehicle like car, truck, van, or motorbike etc. One needs to submit the V5 registration of the car (which is also known as the logbook) to get the loan application processed before the loan is sanctioned.
The log book or the V5 registration document holds details of the vehicle and its registered keeper. When the car or the vehicle is sold, the vehicle has to be registered in the name of the new owner and the details about the sale are mentioned in the Log Book. The age of the car and the number of owners that the car has had is all found within the Log Book. The Log Book hence is an important document that should be preserved carefully.logbook loans
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