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Logbook loans are loans secured against cars. They are supposed to offer individuals a simple way to borrow by using an asset (the car) as security. Logbook loans are a popular way to borrow money – the number of loans being taken out has increased from just 3,000 in 2001 to 30,000 in 2016. Problems have arisen when a car is sold to an innocent buyer with the logbook loan still attached to it. Currently, this makes the buyer responsible for servicing the loan – although incoming changes to the law could potentially correct this. What’s the issue with Logbook Loans? There’s nothing fundamentally wrong with logbook loans – they are a simple and fast way to borrow money. The problem arises when a car that has a logbook loan attached to it is sold on to a buyer. If you’re looking for a used car and you unknowingly buy one with a logbook loan attached to it then you could find yourself in a difficult situation, including: Someone else’s debt to pay The pressure of being pursu
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Extra protection for those using Logbook Loans

Logbook loans are loans secured against cars. They are supposed to offer individuals a simple way to borrow by using an asset (the car) as security. Logbook loans are a popular way to borrow money – the number of loans being taken out has increased from just 3,000 in 2001 to 30,000 in 2016. Problems have arisen when a car is sold to an innocent buyer with the logbook loan still attached to it. Currently, this makes the buyer responsible for servicing the loan – although incoming changes to the law could potentially correct this. What’s the issue with Logbook Loans? There’s nothing fundamentally wrong with logbook loans – they are a simple and fast way to borrow money. The problem arises when a car that has a logbook loan attached to it is sold on to a buyer. If you’re looking for a used car and you unknowingly buy one with a logbook loan attached to it then you could find yourself in a difficult situation, including: Someone else’s debt to pay The pressure of being pursu
http://bit.ly/2z2WePM

How to save money as a local community

There is a lot to be said for the old idea that we’re stronger together. Particularly now when times are tough for many, the idea that clubbing together to save money as a community could help with costs and budgets is very appealing indeed. People power could not only give you the means to cut the costs of your essentials but also help bypass the more expensive commercial options that don’t necessarily deliver better results. So, where could you save money as a community? Energy and fuel savings clubs With the cost of energy always increasing and some providers putting prices up by 10% this year it sometimes feels like it’s difficult to see a way out of those huge quarterly bills. However, joining an energy and fuel savings club could give you other options than just to accept the prices you’re quoted or go elsewhere. Using the process of ‘collective switching’ it’s possible to negotiate a better tariff on behalf of a group of consumers than you’d ever be able to get
http://bit.ly/2yR0gIK

How to find a really good second hand used car

The second hand car market in the UK is expanding. In the first quarter of 2017, sales of used cars reached an all time high. In fact, we’re buying so many used cars now that earlier this year the sales of new cars fell for the first time in eight years! There are a number of different reasons why used cars have become so incredibly popular. Perhaps the most significant is the Personal Contract Purchase (PCP). The PCP is the type of financing that many people use to buy a new car. It enables a buyer to make payments over a period of time and then at the end of say 3-4 years decide whether or not to make a large final payment to keep the car – or to hand it back and enter into another PCP for a different car. As more and more people choose to hand back these slightly used cars the vehicles make their way into the used car market, increasing both the volume and the options available. Why opt for a used car? ‘Second hand car’ might once have conjured up an image of an old banger
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Why has Provident Personal Credit “Imploded”?

Home credit provider Provident Personal Credit has been going through some serious problems recently, peaking in August when its share price dropped a huge 66% in one day! The significant crash in the share price of the business wiped around £1.7 billion off its stock market value. In June, the business had already made statements to the effect that it was struggling but the size of the crash in value was still fairly unexpected. So, what happened to Provident and is the operation salvageable? Who is Provident Personal Credit? It’s a doorstep lender. Home credit or doorstep loans are popular with consumers who aren’t keen to arrange finance entirely online or go into a bank to do it. Instead, doorstep lenders have teams of staff who visit borrowers at home, to deal with queries and to collect regular repayments on loans. It is one of many lenders who offers financing to customers who perhaps don’t have the perfect credit score and who might not be approved for a loan elsewhere
http://bit.ly/2iuitI5