The secret to getting the best logbook loan deal

Agreeably, with so many logbook loan lenders in the market, getting the best deal can prove a challenge. Most people tend to apply with the first lender that accepts their application out of desperation. However, the truth of the matter is that you do not need to accept a bad deal simply because you are frustrated. We understand that you probably have been refused before and feel whichever lender that accepts you is your best friend. Well, that is the cardinal mistake that you’ve been making. With thousands of UK logbook loan lenders willing to bring you on board, it’s advisable that you do not make a rash decision. So what is the secret to getting the best logbook loan deal?

Compare and compare and compare!

Do not be in a rush to do business with any particular logbook loan lender. Take your time, do background research, and compare the services as well as the benefits that each lender offers before making the final decision. No matter how desperate you are for a loan, make efforts to compare various service providers prior to applying for one.

Read the fine print

Yes, you heard me right. We are all guilty of rushing to append signatures on a contract before fully understanding what our obligations are. The result has been pain, regret and frustration when we find out months down the line that we committed ourselves to a contract alien to the one we thought. Shrewd logbook loan lenders have a tendency of hiding certain charges in the fine print and that is why it is highly recommended that you read everything. Understand each section before agreeing to the contract. Ask where you don’t understand and only apply for a logbook loan from honest lenders.

Haggle

Don’t be the kind of laid back person who accepts the deal you’ve been given simply because you are desperate. Chances are that there are a number of other logbook loan lenders that offer a better logbook loan deal. Always approach negotiations from an informed standpoint. Do your research and use the information you have to bargain for a better deal. You just never know, you could end up with a logbook loan that is better and more affordable than you would if you accepted what you had initially been offered.

Ensure that your car is serviced regularly and that your MOT certificate is up to date

What is the difference between a car that is regularly serviced and with an up to date MOT certificate as compared to one that has not been serviced and with an expired MOT certificate? Well, the difference is in the APR that you will be charged. If your car is regularly serviced and in good condition, you stand to get a better deal as compared to an individual with a car that has not been going for repairs.

To sum it up, if you take all the above into consideration, you can be assured of getting a better logbook loan deal!