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Post by mexicann007 on Nov 23, 2011 5:44:18 GMT -5
Logbook loans does not cater excessive interest rates so, the customers are required to borrow the amount that is needed and do not overburden themselves with finance that they can not afford. Therefore, these loans requires the borrower to fill up an income and expenditure form to prove that they can afford a loan amount.
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Post by bravo007 on Nov 23, 2011 5:54:30 GMT -5
In order to get through the logbook loans the borrower is required to pass through some basic norms:
To be eligible the logbook of a vehicle must be in the name of the borrower.
The vehicle should not be above the age of 8 or so.
The borrower should be a full time employee and and get a regular income.
The vehicle should not be sided with any due payments and should be cleared from other finances and
The Vehicle must be insured and taxed as well.
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