When should you make use of a logbook loan?

Logbook loans offer almost instant cash against the value of your vehicle, but when should you consider applying for one? We strongly advise against using such a loan for anything other than an emergency situation. Let’s look at a few scenarios where a logbook loan makes perfect sense.

Medical emergencies

A medical emergency is something that one can never predict. Unfortunately, these emergencies often place an incredible strain on our financial situation. Applying for a logbook loan to cover unforeseen medical expenses therefore, is a valid option.

Unexpected family bereavement

With the downturn in the global economy, many people are forced to give up secondary insurance products such as funeral cover. This creates a quandary however, as funeral themselves are very expensive. Although the Government does help towards funeral costs, the contribution is minimal. As there is no way to plan for such a sudden loss, the almost instant cash from a logbook loan can help ensure your loved one is buried with dignity.

Reduction in income

Many of us have felt the impact of the global recession, especially in fields where job hours have been cut. Unfortunately our bills and other expenses remain the same and often families struggle to get by. Again, in this situation, a logbook loan makes perfect sense and helps to ensure peace of mind for you and your family. Of course, the loan you qualify for may be reduced due to you working fewer hours, but every bit helps doesn’t it?

Maternity

Having a baby can cost a lot of money. From visits to specialized doctors to building the perfect baby room, a new-born definitely affects our bank accounts! Of course, although you would have in most cases planned for your little bundle of joy, an injection of extra cash will come in handy, especially with the ease a logbook loan can provide it.

No matter what your financial disaster, we can help alleviate your burden with a logbook loan suited to your specific needs. Best of all, should you qualify, we provide you with a loan, no questions asked. If you are considering using our logbook loan product but are unsure of repayments, use this excellent calculator and then come and talk to us.