Friday 16 September 2016

Top Five Benefits Of Car Log-book Loans

If you are looking for a log book loan, you’re in the right place!
However, if you are after a little more information before committing to a loan, why not have a read of our top five benefits of choosing a log book loan from Eaffy. We think you will be pleasantly surprised!

Borrow what you need

Here at Eaffy, we are able to offer loans from £250 right up to £50,000.
Loans are agreed based on the value of your car as well as your personal situation and your ability to make potential repayments. All of this is discussed with you and we would never encourage you to borrow more than you need, or more than you can reasonably afford to repay.

Easy to understand

We are proud that our lending process is easy to understand – we will not try to bamboozle you with tricky terminology and complicated lending rates.  You can either apply online and pop in with your documentation, or do the whole loan application in store – either way, one of our friendly team will talk you through the steps and you will be encouraged to read through all of the paperwork before you sign upon the dotted line!

Quick cash

We understand that sometimes things just crop up unexpectedly and that sometimes you will need the cash – and fast!
So, after you have completed the loan application and everything has been signed and approved, the money is transferred straight into your bank account, usually within one hour of approval. One of the biggest benefits of our quick cash transfer is that you are left to get on with your day, and your life. 

The car is still yours to use!​

After completing your logbook loan, you will still have access to your car and be able to use it for your usual daily routine, as you were before - the car is still yours to use for work and leisure purposes.
Very occasionally do we have to resort to repossessing a customer’s car due to lack of payment, but this is only in extreme cases in which we have been unable to gain a satisfactory result with the customer and after all the legal notices have been sent, as per the Consumer Credit Act 1974.

Favourable eligibility criteria

We understand that many people will have a blemish or two on their credit history. That’s why we do not automatically refuse loans for those that have had credit defaults, CCJ’s, or have been made bankrupt. We work with you to establish whether the loan is right for your personal situation, taking into consideration your credit history. Every applicant and application is treated fairly and with respect, regardless of previous circumstances and history – and we are proud of this!

Think a log book loan is right for you? 

Why not give us a call today to discuss further on 08081635342 or simply apply online today!

Thursday 15 September 2016

Process Of Getting A Logbook Loan



There are two sorts of individuals who are most enamored with logbook credits: the individuals who can't get their hands on general advances and the individuals who don't wish to hold up through the whole procedure. Logbook Loans, as well, have a methodology to take after, yet it is no place as monotonous as the traditional one. It is entirely straightforward however a long way from normal learning. Individuals need to know increasingly about logbook advances and this article listens to their interest. So on the off chance that you have found out about the advance and are acquainted with the fundamental idea, yet at the same time wish to become acquainted with the definite strides that occur, this article is for you. It investigates the whole course from application to endorsement.

On the off chance that you will put your auto as security and get a logbook advance affirmed, yet stay ignorant regarding where to begin, the principal thing you have to do is discover the moneylender. These loan specialists are turning out to be progressively open and you ought not have much trouble discovering one on the web. Notwithstanding, ensure it is a nearby organization, since they would in the end need to see your auto. You ought to search through various necessities and read through late charges and increments in loan costs, in the event of steady late installments. Becoming acquainted with the bank totally, before going ahead, is dependably the smarter choice. You would prefer not to put the responsibility for auto into wrong hands. Be that as it may, on the off chance that you are managing an all around presumed firm, these second thoughts ought not stress you.

Having settled on where to get the advance from, you can continue towards the online application. This application is shockingly straightforward. These applications more often than not request individual, work, monetary and auto related subtle elements. You ought not need to take out more than 15 to 20 minutes to finish the application. On the off chance that you discover any sort of trouble filling the structure, you can simply call the without toll number, where the administrator would walk you through the whole application-filling process. In the event that there are a particular inquiries you require replied, don't hesitate to inquire. This progression closes once you present the application. Presently you ought to sit tight for an answer.


When your application is affirmed, expect a telephone call from the administrator. It ordinarily talks about a couple points of interest, affirm your enthusiasm for getting the advance and above all, organize an arrangement. This arrangement includes a visit from an agent of that organization. He or she would be in charge of reviewing your auto and guaranteeing that the subtle elements, which you entered in your application, are valid. Since they hold your auto as guarantee and offer it to settle your obligation in the event that you don't pay back the advance, they would need to be fulfilled.

Next, we move the last stride. In the wake of assessing your auto's worth, they will get in touch with you with the offer. They are prone to offer around half 75% of the auto's assessed worth. On the off chance that you acknowledge the offer, you can have the cash inside 60 minutes. After getting the cash, you handover the auto's logbook, alongside its lawful possession, to the loaning foundation.

Presently, you have the cash in your grasp and the auto in your carport. You can would whatever you like to do with the cash, they have positively no sympathy toward it. What they do look forward is credit reimbursement and interest installments. For whatever length of time that you orchestrate that, your relationship is sans anxiety and great to go. As should be obvious the procedure is exceptionally shortsighted. There is insignificant printed material and practically zero bother. On the off chance that you contrast it with different advances, it looks pipe dream. Maybe this is the reason individuals are progressively turning towards logbook advances.

Logbook Loans..


Logbook Loan is a fast and principal way to deal with oversee venture back the cash from your auto. Logbook credit is here to give a burden free, sensible and sensible solution for your budgetary needs, whatever they may be.

Logbook advances are credits secured on your vehicle, so the bank avows your vehicle until you pay the change back. You can keep using your vehicle the length of you repay the credit. In any case, they are expensive and hazardous and you should dodge them if you can.

Logbook advances are open on the more trustworthy decision and on the web.

You can traditionally get amongst £500 and £50,000, subordinate upon how much your auto merits, dismissing the way that you may basically be allowed to get up to half of your auto's quality.
These are the reports that show you are the chosen watchman of the vehicle.
We take pride in being good and fit development professionals, and are approved individuals from the Consumer Credit Trade Association. With our logbook drives, this induces we will dependably ensure your month to month reimbursements are sensible, and that our terms are flexible to your necessities. Our Logbook Loans range from £500 - £25000, so you secure as pathetic or as much as you incline toward.
Your auto is your security with our Logbook Loans, making Auto Advance open to more borrowers and quickening the method much further. Logbook Loans with Auto Advance are not just kept to automobiles, we in like manner advance on motorbikes and vans.

Note that Logbook moneylenders take your V5 when you agree your credit. This makes them the enrolled gatekeeper of your vehicle for the term of the credit and in case you miss even a singular portion, your auto can be sold quickly and without encountering a court system. This puts logbook moneylenders into the bank of last resort class and it's a given that it's absolutely essential that you promise you can make the repayments before concentrating on assuming out a logbook acknowledgment.

We understand the various life situations that have caused you to have poor credit, and we know that there are a lot of times when it isn’t your fault. We believe that past mistakes or problems shouldn’t be the basis on how to gauge your ability to borrow and pay back in the future.
We work in partnership with two of the largest logbook loan lenders in the UK. They consider applications from borrowers with a less than perfect credit score. Even if you’ve had repossessions or court judgments, they might be able to help you borrow the money that you need provided you are eligible and can afford the repayment.


Wednesday 14 September 2016

Why choose a logbook loan?


In the event that you claim an auto, a credit against it can be an extraordinary approach to raise fund. You utilize your auto as security for the advance and get a singular amount installment into your financial balance.

You then reimburse the credit in month to month or week by week portions which will cover both the sum you initially obtained and the enthusiasm on that sum.

The sum you can acquire relies on upon the estimation of your auto. The higher the estimation of your auto, the more you are prone to have the capacity to acquire. This will likewise rely on upon the amount you can pay back after we experience moderateness checks with you.

Acting naturally utilized won't stop you applying for a line of credit, the length of we can see that you have a consistent pay and the measure of cash you have left every month after all your outgoings is sufficient to cover your advance installments, your application will regularly be effective.

What is the process of taking out a loan?

Applying for a new line of credit against your auto can be a basic procedure. You need an auto that is clear of fund to have the capacity to begin your application, and you ought to have the capacity to demonstrate your wage with bank articulations or payslips. You will likewise require confirmation of your location, ideally utilizing a service bill from the most recent 3 months and a personal ID.

When you apply for your advance with Eaffy logbook loan we will control you through all that you require keeping in mind the end goal to make your application. One of our agents will turn out to meet you either at your home or an area of your decision to see your auto, furthermore for you to sign your archives. This can by and large happen around the same time you apply for the credit.

How long can the loan be for?

The maximum length of time we lend for is 36 months. You can be flexible with the amount of time you have the loan for, from a few months to 2 years. The amount of interest you pay back will vary depending on the length of time you take the loan out for.
You may want to compare logbook loans from various lenders to see what their interest rates are and how long their loans are for.
You are also able to easily pay your loan back early, which is a simple process. Simply contact us and we will arrange this with you.
Apply now

Your Auto is your security with our Logbook Loans





Logbook Loan is a brisk and principal way to deal with oversee venture back the cash from your auto. Logbook credit is here to give a burden free, sensible and sensible solution for your budgetary needs, whatever they may be.

Logbook advances are credits secured on your vehicle, so the bank attests your vehicle until you pay the change back. You can keep using your vehicle the length of you repay the credit. In any case, they are unreasonable and perilous and you should avoid them if you can.

Logbook advances are open on the more trustworthy decision and on the web.

You can traditionally get amongst £500 and £50,000, subordinate upon how much your auto merits, dismissing the way that you may basically be allowed to get up to half of your auto's quality.

These are the reports that show you are the chosen watchman of the vehicle.

We take pride in being great and fit improvement experts, and are affirmed people from the Consumer Credit Trade Association. With our logbook drives, this instigates we will reliably guarantee your month to month repayments are sensible, and that our terms are adaptable to your necessities. Our Logbook Loans range from £500 - £25000, so you secure as unfortunate or as much as you slope toward.

Your auto is your security with our Logbook Loans, making Auto Advance open to more borrowers and breathing life into the system much further. Logbook Loans with Auto Advance are not just kept to vehicles, we in like path advancement on motorbikes and vans.

Note that Logbook moneylenders take your V5 when you agree your credit. This makes them the enrolled watchman of your vehicle for the term of the credit and if you miss even a singular bundle, your auto can be sold quickly and without encountering a court system. This puts logbook moneylenders into the bank of last resort class and it's a given that it's huge that you promise you can make the repayments before concentrating on expecting out a logbook assertion.

We understand the unmistakable life conditions that have made you have poor credit, and we grasp that there are a wide measure of times when it isn't your inadequacy. We acknowledge that past mistakes or issues shouldn't be the reason on the most capable system to gage your ability to acquire and pay back later on.

We work in association with two of the best logbook credit advance supervisors in the UK. They consider applications from borrowers with a not as much as immaculate money related evaluation. In spite of the way that you've had repossessions or court judgments, they might have the capacity to help you secure the money that you require gave you are qualified and can deal with the expense of the repayment.

Monday 12 September 2016

How a Logbook Loan Works


Just like any other loan, you can take out a logbook loan on the high street or there are plenty of online providers too. Offering loans of anywhere between £250 and £100,000, these lenders charge Annual Percentage Rates (APRs) of at least 100%, with 450% being far from unusual. When you consider that high street loans are available with APRs below 5%, your options have to be pretty narrow to sign up for one of these loans.
Repayment periods can be as little as three months (although at least six months is more common), while some lenders will let you pay back the debt over as much as five years. How much you’ll be able to borrow will depend on how much your car is worth – remember that’s what the loan is secured upon. Some lenders will let you borrow up to half of what your car will fetch, but the terms and conditions vary from one lender to another.
When you take on a logbook loan "loan against car" you’ll have to hand your registration document (V5C) over to the lender and you won’t get it back until the debt has been cleared. Default on the payments and your car will be seized so you’ll never get the V5C (or your car) back. 
If you live in England, Wales or Northern Ireland you’ll have to sign a credit agreement and a bill of sale. By doing this you’re assigning temporary ownership of your car to the lender, but as long as you keep up the payments you can continue to drive it. Crucially though, the law recognise a bill of sale only if the lender registers it with the High Court. Should the lender fail to do so, the lender has to get a court’s approval to repossess your vehicle.
If you live in Scotland, bear in mind that bills of sale aren’t recognised, which means they can’t be used as security and they’re not legally binding.
As with any loan you need to read the small print very carefully, paying especially close attention to what the arrangement will cost you. A typical logbook loan has an APR of around 300%, so if you borrow just £1000 for 12 months, you’ll have to pay back £1960, at £163 each month. Take out the same loan on the high street and you could potentially cut these costs to as little as £1032 and £86; just half as much.

What is Logbook Loans?

A logbook loan is a form of secured lending in the United Kingdom and is the most common modern example of a security bill of sale. Borrowers transfer ownership of their car, van or motorcycle to the logbook lender as security for a loan. While making repayments borrowers keep possession of their vehicle and continue to use it. When the logbook loan is repaid, the borrower regains ownership of their vehicle.Borrowers hand the logbook lender the V5C registration document - or “logbook” - but this is purely symbolic and has no legal effect. If the borrower defaults, the logbook lender can seize the vehicle and look to the proceeds of sale for satisfaction of the loan. Unlike a car title loan in the United States, the logbook lender can, under English law, seize the vehicle without a court order.
In England and Wales, logbook loans are regulated by the Bills of Sale Act 1878 and Bills of Sale Act (1878) Amendment Act 1882. Logbook loans and the Bills of Sale Acts have been subject to loans, should be banned. The government’s response to the consultation was published in 2011. The much criticism. In 2009, a consultation by the Department for Business, Innovation and Skills examined the Bills of Sale Acts and proposed that bills of sale for consumer lending, such as logbook response left the Bills of Sale Acts intact and led to the introduction of a voluntary code of practice for logbook lenders.
In 2014, the Bills of Sale Acts were once again examined, this time by the Law Commisions for England and Wales. The Law Commission published its consultation paper on 9 September 2015.