Logbook Loans
In the UK, a logbook loan is a loan secured against the ownership of a car, as represented by the car's logbook.
Logbook loans can be typically be obtained on better terms than an unsecured payday loan, since they present less risk to the lender. The loan is secured against the value of the car, with the borrower providing proof of ownership by production of the log book (car registration documents). In the event that the borrow doesn't repay the loan, the lender can attempt to recover their expenses by repossessing the borrower's car.
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