Loans are loans acquired using your vehicle as security for the money lent. One of the basic requirements for acquiring the loan is that you are the legal owner of the vehicle you intend to use for the loan. One of our agents assigned to you will conduct the inspection of the vehicle to confirm that it is in good condition so that your money can be advanced to you.
The contract you sign during the loan agreement states all the costs associated with the loan, together with other terms and conditions of the loan. By signing our contract and bill of sale, you agree to honor your payments and sign over your vehicle’s ownership to us for the period of the loan. Your vehicle gets to remain in your custody and its ownership is returned to once you are though with your payments but it is important to also keep in mind that, you risk losing it if you fail to complete your loan payment.
To avoid penalties due to late payment, you are always advised to choose a payment method that is most convenient for you. We usually send you reminders of your payment but in case you have a busy schedule, you can instruct your bank to transfer your payments through standing orders. In case you anticipate running late with your payment, it is always smart to communicate to us so that we can organize on a payment period extension for you. Get in touch with us as soon as possible and learn more about our logbook loans.