Auto Advance Logbook Loans
Based on a £1,000 OVER 12 MONTHS
Representative APR%: 300.30%
Monthly Repayment: £163.34
Total Cost: £1960.08
Auto Advance is a company that offers logbook loans to their customers. They are known throughout the market, and they lend their customers up to £25,000, depending on their estimation of your vehicle. In this company overview, we will give provide you with enough information to help you know more about their services.
How Does Auto Advance Logbook Loan Works?
Like many other logbook lenders, the securing element of Auto Advance logbook loan is your vehicle. Once you proceed with their deal, they technically own your car through a V5 registration document; and you get to use your vehicle until you repay them your borrowed amount. They offer as little as £500 and up to £25,000, and that’s obviously depends on their evaluation of your car’s value. However, they usually lend you an amount of money that they see fits your financial situation, so that you may be able to come in terms with the date of your repayments.
How Can I Apply for an Auto Advance Logbook Loan?
Auto Advance offers their services both online and in person. You may simply go through their website and get an instant quote for your deal. You can also fill in their online application to proceed with the process of your logbook loan. Once you are done with that step, a representative of Auto Advance should contact you to continue the steps of your logbook loans. They usually send out an agent to a place of your choice in order to inspect your vehicle and proceed with the paperwork. You can also bring in the car yourself to their nearest shop. They promise professional etiquette and high quality service. You may simply contact them through their numbers that are presented on their official website, and their employees should instruct you on how you’ll be completing the process of your logbook loan. You have the liberty to choose how you are going to receive your money: whether a transfer to your bank account, cash or a cheque.
What Happens if I Miss my Monthly Repayments?
If you happen to miss a monthly repayment of your logbook loan, you might face terrible repercussions. They have the liberty to repossess your car if you broke the terms of your repayments. However, before dealing with any logbook lender, you should contact them and ask them in details on how to they enforce their repossession terms. Most of the companies are understanding and do not wish to repossess your vehicle. However, before delving into any deal, all the terms should be clarified to you by a representative of theirs in order to be able to estimate your financial situation properly.