Official Journal of the loan is a loan by the magazine of your car. If you have a car, you can now get credit in your car or guarantee of security, logbook, where a guarantee.
How do they work?
The magazine serves as proof of ownership of property and the loan car.
Official Journal of the loan can be quick and easy way to get credit. They are suitable for borrowers who need immediate funds quickly.
The magazine remains in possession of the creditor for the period until the loan is not repaid. The car remains in the possession of the borrower. Borrower shall keep the car in good condition and continues to rise in the price of the road and ensure that the current car insurance and MOT.
Lending criteria
There are basic criteria that must be received by the borrower for the loan book. Namely:
• The vehicle must not be older than 8 years.
• the vehicle should not be used bail
• If the vehicle is used as collateral, the vehicle clear for all contributions.
• Taxes and insurance on a vehicle of communication must be paid in full by the operation of motor vehicles promised loan portfolio.
• The vehicle must by the technical tests and tests to qualify for a loan book. British, each vehicle must be conducted every 3 years to verify its authenticity.
• loan borrower must be full employment. He or she needs a permanent source of income.
• The log should be borne by the borrower.
The magazine credits, not normally necessary credit checks, making it the ideal way of loans for people with poor credit and solvency. Loan amount will depend on the lender and the value of the vehicle. P>
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