The new type of loan from Top Logbook Loan secures the credit against the ownership of the individual’s vehicle, making it easy to secure a good quality loan even with bad credit.

Bradford, West Yorkshire -- (SBWire) -- 06/25/2013 --The payday loans controversy rolls on as many still campaign against these predatory lending services and claim they should be banned or shut down, with the UK government already imposing restrictions on the way these companies can do business. As a result, those with bad credit are looking elsewhere to find loans, and many are turning to logbook loans as a solution. The process works by temporarily passing ownership of the individual’s car to the lender, then buying it back in instalments to the value of the loan plus interest. TopLogbookLoan offers free quotes on logbook loans as well as an explanation of the intricacies of log book loans.

The logbook loan companies are stored in the website database and users simply add the registration year of their car and its finance status before seeing which companies they qualify to get a loan from, at that point the users can compare the most preferential rates and make a decision. The site is designed to be intuitive and fast so visitors get the best loan rates with the minimum of fuss.

Once the decision is made, a user can get logbook loans approved for any purpose no matter their credit rating, county court judgments or arrears. They can have the money in their account within 24 hours and crucially, keep their vehicle.

A spokesperson for Top Logbook Loan explained, “Logbook loans are a practical solution to a real problem in this country, whereby more and more families are feeling the financial strain and one small slip can cost them their mortgage. We live in a society that already uses an interest based rent-to-buy system because any item bought that can’t be paid for will be repossessed. Logbook loans allow individuals to use their automobiles to refinance themselves in times of trouble, using the equity locked in the car to unburden themselves when they need it most.”

About Top Logbook Loan
Top Logbook Loan provides UK consumers a free logbook loan quote. The service is intended for people who are looking to borrow money for short-term needs. There are no credit checks, so it is perfect for those who have bad credit or have been refused before. A logbook loan is a great alternative to a payday loan - and it is increasing in popularity. For more information, please visit: http://www.toplogbookloan.co.uk/