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Log Book Loans

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    #1

    Log Book Loans

    I've been hearing on the radio some advertising about loans secured on you car. Get your money in 24hrs, even with dodgy credit rating.

    Thought I'd see what the "deal" is.

    http://ww w.logbookloans.co.uk

    Loan Amount Weekly Repayment Loan Term APR
    £1,500 £53.80 58 weeks 343.4%

    A commitment fee of £215 is added to the loan. It is paid throughout the term of the loan and is included in your weekly repayments as shown above.

    No, that is not a typo

    Must be a good business to get into.
    Tags: None
    #2
    Wow £53.8 * 58 = £3120 for a £1500 loan. You can't fail!
    Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

    I preferred version 1!

    Comment

      #3
      Looks like they are prime target for identity thiefs - quick payout means they surely can't check things in detail. Now what was the number plate for that pink Mercy of Dimmy? 11S DIM?

      Comment

        #4
        Looking on money supermarket.com you can get a 15k loan for 6 months costing you 2555.22 a month. If you had 10 suckers taking out £1500 loans that would give you 583/week, or 2526 per month. So this lot pay your loan off in 6 months. For the remaining 6 months you get 2526 for nothing!
        Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

        I preferred version 1!

        Comment

          #5
          Originally posted by TonyEnglish View Post
          Looking on money supermarket.com you can get a 15k loan for 6 months costing you 2555.22 a month. If you had 10 suckers taking out £1500 loans that would give you 583/week, or 2526 per month. So this lot pay your loan off in 6 months. For the remaining 6 months you get 2526 for nothing!
          That was my thinking.

          Either you end up with a large free income or a collection of free cars to sell.

          Win win.

          Comment

            #6
            yeh, most of these cars must have an engine or some other major parts missing.

            Comment

              #7
              At W***

              I know someone that's got a Lada and is looking for a loan to get by for Xmas. Someone please tell him

              Comment

                #8
                343%!!!!!!! That's disgusting!

                I thought some of the credit cards for ppl with poor credit ratings at ~40 - 50%APR were atrocious, but this is unreal!
                It's about time I changed this sig...

                Comment

                  #9
                  Originally posted by MrRobin View Post
                  343%!!!!!!! That's disgusting!

                  I thought some of the credit cards for ppl with poor credit ratings at ~40 - 50%APR were atrocious, but this is unreal!
                  Have a read through this. http://forums.moneysavingexpert.com/...d.html?t=83984

                  They are getting a lot of airtime and advertising.

                  How desperate are people to borrow at 375% APR.

                  Comment

                    #10
                    Originally posted by DimPrawn View Post
                    Have a read through this. http://forums.moneysavingexpert.com/...d.html?t=83984

                    They are getting a lot of airtime and advertising.

                    How desperate are people to borrow at 375% APR.
                    Maybe they have a harmless coke habit to feed?
                    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

                    Comment

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