The logbook loans derive their name from the fact that they are loans offered to you by securing the ownership of your logbook. This simply means that you surrender the ownership of your logbook to the lenders, and this technically means they now own your car though you are allowed to drive it. When you hand in your logbook, the loan officer will inspect your car to determine the value upon which the loan will be centered. This does not necessarily mean the market value. They do not give you loan more than 50% of the market value of your car. When you have been granted this loan, a repayment plan is then drawn through which you will repay the loan or have your car repossessed and auctioned.
The complete cost of getting loan against car will mean a total calculation of what you have to spend to get the loan, the loan itself, and then what you repay in total. When all these are considered, you can then see that the log book loans and currently working with Logbookloanshelpline.co.uk . For further detail of loan against car and bad credit loans just visit at our website.