Costs of Car Hire

It’s no doubt that hiring a car is a popular phenomenon in the UK. Whether it is taking a holiday or going on a road trip, hiring a car means that you will be able to enjoy the views comfortably be it with friends and family. Most people actually prefer travelling long distances as opposed to taking public means. They are able to enjoy their own company compared to travelling in a bus or train full of people. However, people will often end up paying more than the quoted or agreed price leaving them disappointed and wondering where the extra costs came from. Let us now look at how these costs come about and to better understand the world of car hiring. Insurance The greatest cost on your car hire price is mainly due to an insurance cover that claims to protect the driver from having to incur costs in the first part of any claim in the event of damage. The best way to protect yourself from having to incur this often unnecessary cost is by doing your research before deciding on which car hire company to use. Look for standalone contracts and […]
By |April 27th, 2017|Blog|0 Comments
  • Permalink Gallery

    The Logbook Loan Code of Conduct and Why You Must Reread the Policy

The Logbook Loan Code of Conduct and Why You Must Reread the Policy

The moment you append the signature on the logbook loan agreement form, it means that all the things details contained therein become abiding. It is the policy that will be used to ask for payment, repossess your car and even auction it in the event of default. Therefore, you have to read and reread through the lengthy document and get everything about the loan before signing. Despite the numerous risks and high-interest rates associated with logbook loans, many borrowers rarely take a deeper look at the policy. In this post, we explore why it is very critical and what you should look for in a logbook loan policy. Confirm the policy bears the mark of Consumer Credit Trade Association (CCTA) While this is not a requirement by law for logbook lenders, a logbook lender who is a member of the association commits to a strict code of practice when dealing with clients. All the codes are meant to protect the industry from the bad publicity in the UK. In particular CCTA advocates for the following; Reduction of logbook loan payment if the circumstances change. For example, a client who had committed to repaying […]
By |April 20th, 2017|Blog|0 Comments

Expert Tips on Handling Logbook Loans

If you visit any financial expert in the UK, the first piece of advice is to stay away from logbook loans. Despite the fact that these loans are very expensive and risky, many people are forced to take them after credit denial by conventional banks. In many cases, people are at the point or no return and have to pick what is available rather than what is ideal. However, no matter what landed you at the logbook loan; the truth is that a bigger problem is just around the corner. Why is it the case? This is because most people already have several outstanding loans that have pulled the credit score. Therefore, a logbook is simply another loan that will make the road extra tough. The main question at this point is; is there a way out for those who take logbook loans?  In this post, we bring you five expert tips for handling logbook loans. Create a strategy of clearing your debts The first most important thing is appreciating the entire debt problem you are in. For example, you have to appreciate the reason for selecting the logbook loan was poor credit score. Therefore, your strategy has to be inclusive […]
By |April 13th, 2017|Blog|0 Comments

Five Things That Will Help You Avoid Defaulting On Logbook Loans

When applications for loans are declined, many people speedily look for alternatives. One of the commonest options is the logbook loan. A logbook loan is taken against a vehicle, and the lender rarely factors the credit score.  They are fast to process and borrowers can have the cash in their accounts in less than 24 hours. While the loans are really easy to get, their interest rates are very high. Some logbook loan companies charge APR (annual percentage interest) of as high as 400%. Many people have found themselves on the wrong side of the lenders after defaulting severally and their vehicles getting towed away. In fact, this risk is very high for most borrowers. If you already defaulted on several other loans resulting to bad credit, how will you manage a log book loan with an even bigger interest rate? Here are five things you can do to avoid defaulting on logbook loans. Borrowing only what you need When a bank declines an application for a loan, it is important to scale down the amount to borrow from other stakeholders. Here you must get it right; the more you borrow, the more you will pay! Therefore, if you only […]
By |April 5th, 2017|Blog|0 Comments

The Ultimate Guide to Lower Logbook Loan APR: Why Pay More?

One outstanding characteristic of logbook loans is that they attract very high-interest rates. Because many people turn to logbook loans after conventional banks decline applications for credit, they are willing to take whatever is available. In other cases, applicants are simply unaware and simply take the credit without worrying about APR. The gross effect is some companies hiking their APR even to rates more than 400%. This should not be the case. In this post, we bring you the ultimate guide to lowering your logbook loan APR. Be patient when seeking a logbook loan Just like other enterprises, the APR offered by different dealers differ with a huge margin. Note that the dealers are also in business and, therefore, tie their APR to several conditions. For example, even if your credit score cannot let you secure a loan from a bank, you might have hit the point that a logbook loan dealer wants to give lower rates. Therefore, you need to carefully follow the preferred logbook loan dealer and meet the set conditions. Take time to review various logbook companies to select the one offering the best deal for you. Use what you have to reduce the amount to borrow and […]
By |March 30th, 2017|Blog|0 Comments

Logbook loan dilemma? Here is why you should steer clear of them

Granted, the allure for logbook loans has been informed by ease of application, faster approval and the fact that credit checks are not mandatory. In fact, lack of credit checks is the single most attraction to logbook loans. It in essence gives bad credit individuals an opportunity to get access to credit facilities without stressing over the state of their credit score. While this has been a major benefit of logbook loans, this loan product has not been devoid of inherent risks to the borrower. What is a logbook loan? Fashioned as a short term loan, a logbook loan is essentially a secured loan where the borrower signs over ownership of their car to the lender in exchange for credit. Unlike a payday loan, the car is security and therefore the lender has a way of recouping their money together with interest by disposing off the car in the event that the borrower is unable to service the loan. This security is perhaps the reason why logbook loan lenders are not keen on performing credit checks or simply don’t care about the results of it thereof. The catch with logbook loans If you’ve never taken a logbook loan and contemplating taking out one, […]
By |March 22nd, 2017|Blog|0 Comments

Expert tips on credit card management

Credit cards can be a cause of agony in today’s world and a reason to celebrate all the same. A good number of people have suffered heavy debts, and there’s a group that shed tears of joy all thanks to credit cards. Whether a credit card seems like an extra source of income to you or a debt-creating invention, how you handle and manage your credit finances could be that factor that separates the financially stable from the bankrupt. Have a budget Have a personal budget and an overall estimate of how much you spend in a month. Figure out whether your credit card usage is in line with your net income and how it’s affecting the budget to avoid being caught in debt. Credit card companies keep score of your spending and paying behaviors, and this is what lending institutions use to determine how much to loan you and at what interest rate. Failing to make your payment, or making a late payment could adversely affect your credit score and make your experience in taking loans a nasty one. So have the month planned out long before you start it. Credit counseling services If […]
By |March 15th, 2017|Blog|0 Comments

Spring tune up – take care of your car now that winter’s over

It’s spring, a warm relief after the blistering winter colds. Everybody’s excited, and this is the time when you’re going to get your house all cleaned up. But your car needs some attention too, especially if you are in an area where the winters build up so much snow and ice. Once the weather starts warming up, there are a few tweaks you need to make to your car, otherwise you face the danger of getting a hefty repair bill midway to your summer vacation. Here’s a few things to keep in mind when tuning up in your vehicle for the spring. Tyres To matter how sophisticated your vehicle is, the tyres are the one and only part touching the ground. This means you should pay close attention to them. The warmer conditions expand the air in the tyres and this may cause a pressure gain. The increased pressure distorts the treads, reduces road contact and causes uneven where on the tyres. In extreme cases, the tyre could even burst especially when encountering bumps and potholes that become prominent during the spring. So ensure you your tyre pressure is within the recommended bracket and […]
By |March 9th, 2017|Blog|0 Comments

What to Do If You Lose Your Car

Documents you need to be aware of about your vehicle Simply looking after and keeping your car in good condition is not all there is to it. Making sure that the paperwork associated with it is well kept is an important aspect too. So what happens when you lose some or all of the paperwork associated with your vehicle? Let us first look at the key paperwork concerning your vehicle that you need to be aware of. Driving license. This document is a very important part of your vehicle documentation. It provides evidence of your legal right to drive. Always have your driving license with you when you are driving. Logbook. Also known as V5, the logbook is an official document that contains details of your vehicle and also shows that you are the owner. It is a necessary requirement when you are entering into any form of financial contract that will include your car such as taking a logbook loan or when you want to sell your car. MOT certificate. This document shows that your vehicle is fit to be on the road and is provided to you once you take an MOT test every year. Ensure you have this document safely kept […]
By |February 27th, 2017|Blog|0 Comments

Choosing a Financial Adviser

If you find yourself worrying about – and struggling with – your finances, it might be a good time to seek help from a financial adviser. But finding one nowadays isn’t always as easy at it may seem. Below are some helpful resources that you could use to get in touch with a bona fide financial adviser. Draw up a shortlist of three or four firms and give them a ring before deciding on which one to go with.   Which? Local – This crowdsourcing site helps you get in touch with financial advisers near you based on recommendations from other Which? members. FCA – The Financial Conduct Authority’s online register is a great resource for checking whether your financial adviser is properly authorized or not. Unbiased – This online directory uses your postcode to find financial advisers near you. VouchedFor – This website lists financial advisers and offers real reviews and ratings from former clients. CISI – The Chartered Institute for Securities and Investment is a trade body for financial advisers. Their website’s wayfinder tool is a great way to find CISI-accredited financial planning firms based on your post code. Things To […]
By |February 20th, 2017|Blog|0 Comments