Whenever we’re looking to buy something, we tend to look for deals before we make a decision. Finding the best price is one way to choose where we shop, but we usually look at extra things too, like customer care and aftersales service. It shouldn’t be any different when you’re looking for log book loans in the UK either. But will all loan companies treat you the same?
Look for more than just a loan
A loan isn’t something usually undertaken on a whim. Most of the time, we’re looking for some long term investment to help us do something or to buy something, so it makes sense to shop around. While many log book loans in the UK operate in the same way, it’s worth checking the level of service and aftercare you’ll receive as well as how much they can lend you.
After all, you’ll be making your loan repayments for a fairly substantial chunk of time, so you want to know if you’re going to be looked after while you’re paying it back. Let’s look at some ways to help you find out if log book loan companies will treat you the same or if they can offer you more.
1). Do they have a good rate of interest?
Shopping around for a log book loan with a favourable rate of interest is a good place to start. The APR of some log book loans in the UK can be as high as 450%. Others could be as low as nearly half that.
2). Do they need credit checks?
Your credit history shouldn’t be used as a tactic to avoid helping you with a loan. If you have bad credit or have had problems in the past, look for a log book loan lender who doesn’t undertake credit checks.
3). Do they have any hidden fees or charges?
A reputable lender will tell you up front about any charges or fees you may incur with your loan. Some lenders choose to ‘hide’ this information, so you’re hit with additional expense when you least expect it.
4). Do they have flexible repayment plans?
It makes it much easier to budget when your repayments coincide with your own income. Don’t settle for a repayment term that would get you into financial difficulties.
5). Do they have great customer service?
Great customer service starts at your loan application and should continue all the way through your loan. A good lender will be easily contactable to discuss any issues or difficulties you might be having.
It’s a fact that not all lenders of log book loans in the UK will treat you the same. At Car Cash Point, we pride ourselves on treating you differently. We guarantee you the UK’s lowest rate of interest, we don’t require any credit checks, we don’t have any hidden fees or charges, we have a choice or repayment plans to suit you and we have award-winning customer service.
If you want to find out more about a log book loan from Car Cash Point, call 0333 220 4419 today to speak to our trusted advisors. They can start your application straightaway and your loan of £500 – £100,000 could be with you in under an hour!