The British economic forecast over the last 2 years has indicated how turbulent the climate is. Many people are finding it difficult to keep up with regular bills and financial needs. Coupled with this is the rate of inflation has remained unchanged at 2.7% which came as shock in the City.
This specifically meant that the fastest price rises were seen in the cost of fruit, bread and cereals, as well as in energy bills, according to the Office for National Statistics (ONS). It has been predicted by economists that inflation will creep up next year as increases in energy bills will take effect.
Individuals now spending more despite their own salaries or wages not increasing. As a result many people have found themselves needing emergency cash and have had to resort to a payday loan.
Despite the attractiveness of a payday loan the lesser-known option is a log book loan which is arguably as more suitable loan product. What are differences?
• Firstly a log book loan is contactable financial agreement secured against your vehicle.
• An individual can borrow as much £100,000 dependable on the company and the value of your vehicle.
• A log book loan is available to a majority of people, even if you have a bad credit rating or poor history record.
• Logbookloans365.co.uk has a representative APR of around 400%. This is higher than your high street bank, but 90% cheaper than a payday loan.
• Once you have taken out a logbook loan you still keep the use of vehicle enabling you to carry on your daily life objectives.
• If however, you are unable to make the repayments you will be charged and your vehicle maybe repossessed if no payment is made at all. You can however, gain a manageable loan option.
A log book loan is safe, secure and cheaper if you are considering a reliable source of financial borrowing. It can give you the flexibility you need in this very turbulent economic climate.