Buying A Second Hand Car with a Logbook Loan on It

Ooops! Big problem here. Even if you do perform the necessary checks before buying a second hand car, there’s a chance a problem like this could slip right under your nose. Here’s a very helpful article I found from AdviceGuide that I hope you will find interesting too:

http://www.adviceguide.org.uk/scotland/consumer_s/consumer_cars_and_other_vehicles_e/consumer_problems_with_the_car_you_bought_e/consumer_the_vehicle_you_bought_doesnt_match_its_description_e/you_have_bought_a_car_that_has_a_logbook_loan.htm

Unfortunately it could be very cumbersome if you get caught in a situation like this. Legally, the logbook loan company is the owner of the car until the debt is paid off. You would have to go through quite a bit of stress to get this sorted out. The article will show you steps you need to do and who you can contact to assist you.

Logbook Loans

Fast cash with logbook loans – a deal that sometimes sounds too good to be true yet many take advantage of or should we say many are taken advantage of.

 This is Paul. I want to talk about logbook loans and share as much information as I could about this kind of deal. There’s a lot of controversy with this kind of car loans because of the very high interest rates and the risk of cars being repossessed. However, considering the logbook loans do have benefits that many people badly need, risking may well be very worth it.

Personally, I think logbook loans are great but only for those who know they can manage their finances pretty well. If you need the cash badly and you need it fast, a logbook loan is a fantastic solution. The only problem is, if you’re in a hurry, you tend to oversee the important details. Thousands of people don’t read the fine print when they absolutely should. So here’s my take on logbook loans and I hope you learn a lot from it.