Finding the Best Logbook Loan Lender Online
With us, you are not just stuck with one recommendation – we strive to give you as many options as possible, and you have the final say on which company to apply to. Our job is to match you with lenders with agreeable terms that will give you the highest chance for approval.
However, once you start getting calls from our lenders, you might feel a bit overwhelmed with all the agreements being thrown at you. While you may want to get the process over with as soon as possible, we suggested taking the time to read the agreements and gathering the data to make an informed decision. After all, even if the loan approval only takes a day, you have to pay for it over the course of a year or more.Here are some considerations you need to take when choosing a logbook loan lender online:
- Annual percentage rate – The annual percentage rate or APR is how much the loan costs (interest and associate fees included) over the course of a year. Basically, the lower the APR, the easier it is to pay back the loan.
- Payment duration – Logbook loans can be repaid over the course of 6, 12, 18, 24 or 36 months, depending on the terms of the lender. If you don't feel like your income capacity is secure, you may want to go for shorter payment duration. Although shorter durations mean higher monthly payments, it's better to get the repayment phase over with as soon as you can.
- • Reputation – Some lenders will be well-known while others will be obscure. Here are Leon Loans we guarantee that all our lenders are of good repute who follow the codes of conduct set by the CCTA. However, you may choose to go with a lender that is well-known for added security.
- Testimonials – Most lenders have their own fully-functional website complete with testimonials. It's a good idea to read reviews and testimonials to check if they have more approvals than failures. Also, check communities and forums related to logbook loans to check for recommendations from previous clients themselves.
- Convenience – Some people dislike the thought of going to a lender's office, maybe because of their busy schedule. It's a good thing that most lenders have their own website where you can apply online. This way, you don't have to worry about making it before the office closes. With online applications, you can file your loan application even in the wee hours of the night.
- Transparency – Lenders would of course want to give you the benefits and advantages of their service, but it also helps to know the negative side of things. You may inquire about the consequences of late or missed payments. Ask about hidden charges and extra fees. It pays to go with a company that's upfront and honest about all information, positive or negative.
- Customer Service – Do they take care of their clients? Do they specifically tailor their loan agreements to suit the needs and circumstances of their customers? As a client, you should make sure that your lender of choice has your well-being in mind and gives you terms that are easy to follow, and payments that are easy to make.
Of course, you might have your own preferences when it comes to looking for the perfect lender. Just remember, we are here to lend a helping hand if your feel overwhelmed and confused at any point during the process. Our job is to assist you with your loan concerns, and if your concern is searching for the perfect lender, we'll gladly help out with that as well.