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Whatever line of credit you apply for, whether it's a logbook loan, a mobile phone contract, even a mail order catalogue, there's often pages of small print attached to the paperwork that you probably won't read. But that small print is often the place where most of the information about hidden fees is kept. Before we start and just to be completely clear, Car Cash Point has no hidden fee's, we've worked really hard to become one of the only Logbook loan lenders in the UK to offer the highest quality service that's as fair as possible to our clients.

No one reads the small print. It's just a fact of everyday life. It doesn't really matter what we're signing up for, we gloss over it, or blindly accept it - usually, both, ignoring it all and signing anyway. But those tiny Ts and Cs are there for a reason. And that's to tell us about any legal or financial obligations that we, or the lender, are liable for.

All the relevant info will be listed, but because it's written in 'legal speak', it can be full of jargon, making it difficult to read and understand. But that's what some lenders rely on. And as lenders might not be legally obliged to tell you about fees and charges beforehand, this is where many borrowers can get into difficulties.

Continue reading "How to avoid a log book loan's hidden fees" →

When it comes to borrowing money, you can be overwhelmed by the choice available. But it's the influx of 'fast' loans that have received some bad press in recent years, with logbook loans coming under the spotlight. So why have logbook loans had such a hard time and do they deserve it?

A flooded market

There was a time when if you needed to borrow money, you had to visit your bank or building society and apply in person. Application forms and all kinds of background checks were part and parcel of borrowing, and you almost certainly needed to declare what the money you wanted to borrow was for.

That method of borrowing is still very much alive and well in High Streets all over the country. And though those same High Street names all offer online loans as well, the same amount of checks and confirmations are still required. Although these big names are trusted and well known to us, not everyone who needed to borrow actually could, because of their financial background or current financial situation.

To counteract this rather limiting way of allowing people to borrow money, the online market became flooded with faster, quicker, and easier loans being made available. Aimed purely at people who were hard up or strapped for cash, these loans became an easy way for money lenders to prey on those that needed money quickly.

Continue reading "The rise and rise of logbook loans" →

Over time, getting a bad or low credit rating can seriously limit your ability to borrow money. Many financial lenders insist on an excellent, or at least good, credit score before they'll even look at your application for a loan, mortgage or credit card. But having a bad credit score doesn't have to mean no credit at all.

Once you get credit and providing you don't run up vast amounts of unsecured debt, credit will always be available to you. And, the more you borrow (and pay back successfully), the more your credit score will build, showing lenders you're a trusted and creditworthy customer. It all makes it much easier to borrow money for years to come.

But, if you come unstuck and run into financial difficulties for any reason, your credit score will quickly decrease, leaving you with few options to borrow. And once you get a bad credit rating, all lenders will quickly know about it, making it increasingly difficult to get credit or finance anywhere.

Continue reading "Does my bad credit have to mean no credit at all?" →

Getting to grips with some much-needed home improvements can do wonders for turning a tired or outdated room into an inviting, usable living space. And, depending on your plans for a transformation, a logbook loan could help give you the wow factor you're after.

There's a bit of a trend happening with home improvements at the moment. Not so long ago,  homeowners would choose to sell up and move to a new, larger house to accommodate their growing families and busy lifestyles. Now, thanks to the housing market, it's far more likely that they'll stay put to breathe new life into the current family home.

From a simple declutter and freshening up of a room, to brand new family spaces that extend out into the garden. Staying put can give you the opportunity to transform your home, giving you the look you want or the space you need. But while you're saving yourself the upheaval of moving as well as the costs involved, you still have to find funds to get the home improvements you want.

There are several ways to raise the money you need. Depending on what you want to achieve, you could use some of your savings to get started. But if you don't have savings or you need extra to help to get the look or extra space you need, a logbook loan for your home improvements is a great option to look into.

Continue reading "Get the home improvement wow factor with a logbook loan" →

If you're coming to the end of your loan repayments, you could be in a great position to top up your logbook loan if you want, or need, too. Having a logbook loan can help you in lots of different ways - and getting a top up could be a lifesaver in an emergency or another bonus towards a family holiday or treat.

One of the great advantages of any logbook loan is its simplicity -, especially with Car Cash Point. With no credit checks, low-interest rates and no hidden fees or charges, the whole process, including your application, is easy. And we've made it that way for you because we want everything to be in plain English, so there's no jargon and nothing hidden in any small print.

Continue reading "Can I get an extra top up on my log book loan?" →

If you've ever bought or sold a car, or if you own one right now, then you'll have heard, and been in possession of, a V5 document or a 'car logbook' as it's more commonly known. While it's an important document that acts as proof of ownership of any car, it's vital if you're looking to take out a logbook loan.

What is a car logbook?

The V5C (or car logbook), is an official document that's used by the Driving and Vehicle Licensing Authority (DVLA). Each one is unique and acts as a proof of ownership document for every car and its registered keeper. The DVLA hold all the details of every registered car and it's owner across the UK.

When you're buying a car...
If you're in the fortunate position of buying a new car from a main dealer or a used car from an independent car seller, then one of the many things they'll take care of is the 'paperwork'. And this involves the completion of your car logbook.

Your new car will be registered to them. When you enter your agreement to buy the car, you'll give them your name, address and other details and they'll complete the form and register you as the new owner automatically. Once this is complete, the dealer will send the completed paperwork to the DVLA and you should receive a brand new car logbook within 6 weeks. You'll then be on the official record as being the registered owner of that vehicle.

While the new logbook is being prepared and sent to you, there will usually be a temporary proof of ownership form given to you by the dealer that you should keep hold of. If you need to prove so, it will act as confirmation that you own the car until the real logbook document arrives.

When you're selling a car...
When it comes to selling your car, the whole process is basically reversed. The responsibility will be on you to transfer the proof of ownership onto the new owner. This will guarantee that you're no longer the registered owner of the car.

It's common practice - and a good idea - to do this straightaway, usually after the sale has been completed and while the new owner is still with you. Once filled in, you can send the completed form of to the DVLA and registration is moved to the new owner within 4 - 6 weeks. This is an important step because if you delay this, the new owner could incur various fines that you would be responsible for because the DVLA will still have you as the official owner on their records.

Continue reading "How important is my car logbook for a loan?" →