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How to Keep Your Cash Safe - Dodgy Lenders & Log Book Loans

24/04/2016 11:31:44

While working in a car loan marketplace, you might come across a few dodgy practices. Particularly, logbook finances can be bad for consumers, as they do not have the same level of regulations and protection as other kinds of credit. Individuals can take out a logbook finance on the vehicle & then trade it on. In case you purchase a car with an excellent logbook finance on it, as a new-owner, you are liable for the cash owed & there isn't much you can do.
We ensure our customers are safe by performing an HPI check on cars for them. And we strongly suggest all car purchasers to get one prior to handing over any of their cash. Most of the car check services that you hear of will not tell you about finances, hence before purchasing a vehicle, you require a full HPI check in order to uncover the car's entire history.
It is difficult for consumers at present, as on one hand you're told that boring is bad, however, on the other, you encounter constant ads from companies that offer you instant money. hence, it is very crucial for you to take some time to carry out some research. Do a research on the company before taking cash from them, read customer feedback, & most importantly, communicate with the company. Dodgy lending companies can be pushy & they will often try to avoid explaining all the details to the customers, hence it is best to avoid taking the risk if you get a bad feeling.