logbook loans
10-05-2009, 01:42 PM
#1
Advanced PassionFord User
Thread Starter
Join Date: Nov 2005
Location: Newton Aycliffe
Posts: 1,693
Likes: 0
Received 0 Likes
on
0 Posts
logbook loans
was talking to a kid the other day who's got a evo 6 and said he got it with one of these logbook loans.
I have never heard of these so checked on the net when i got home and seen this
http://www.logbookloans.co.uk/
check out the APR %
Kid must be mentaly retarded
I have never heard of these so checked on the net when i got home and seen this
http://www.logbookloans.co.uk/
check out the APR %
Kid must be mentaly retarded
10-05-2009, 01:45 PM
#2
ELASTIC BAND
i was shocked when i heard about it here, https://passionford.com/forum/genera...4-apr-wtf.html?
desperate people! Or just plain stupid, sell the car if you need the cash that much
desperate people! Or just plain stupid, sell the car if you need the cash that much
10-05-2009, 01:46 PM
#4
Too many posts.. I need a life!!
Join Date: Nov 2004
Location: My house...
Posts: 815
Likes: 0
Received 0 Likes
on
0 Posts
Company I used to work for did re-possessions from log book loans by Cash Converters. Think it was something stupid like 95% of customers ended up getting repo'd
at least Dick Turpin wore a mask,shocking payments
10-05-2009, 01:51 PM
#6
14000+ post superhero
if your going to somewhere like that in the first place id say its highly likely your not going to manage the payments and theyre expecting to reposses most anyway.
id rather get the bus .
id rather get the bus .
Trending Topics
10-05-2009, 02:55 PM
#12
Wahay!! I've lost my Virginity!!
Join Date: Dec 2008
Location: wigan
Posts: 56
Likes: 0
Received 0 Likes
on
0 Posts
its a legal way for loan sharking! know a guy that does it,built like the side of house,better to just sell the car, coz if u default like many do he sells car for pennies and u still owe the money
10-05-2009, 03:07 PM
#13
My sister had a log book loan on her focus,not sure of exact figure but i think she borrowed £1500 and paid back£3.9k.Couldnt meet the payments £300 pm and lost her car with only £900 still owing on it.Car was probably worth around 3k when they took it back
10-05-2009, 05:57 PM
#21
I've found that life I needed.. It's HERE!!
iTrader: (1)
Join Date: Jun 2003
Location: oswestry - shropshire
Posts: 1,187
Likes: 0
Received 0 Likes
on
0 Posts
mate was paying 30% apr few years ago through car finace and thought he was an idiot for that, but fooking hell over 400% your just stupid to take anything at that!
they get what they deserve if they take that!
i am bit miffed at paying 7% on my loan!
they get what they deserve if they take that!
i am bit miffed at paying 7% on my loan!
10-05-2009, 07:14 PM
#23
Borg Warner EFR Equipped!
Join Date: Apr 2005
Location: In the unit, building a 450bhp Time Attack Focus!
Posts: 5,810
Likes: 0
Received 2 Likes
on
2 Posts
If you want no questions asked money for a car
10-05-2009, 07:29 PM
#25
14000+ post superhero
15-05-2009, 04:57 PM
#27
I've found that life I needed.. It's HERE!!
Ive just got in from helping a mate do some work on behalf of these , well one of their subsidiaries
we re-possessed 6 cars (had about 12 to look for) and all were because of £500 - £1000 loans that they couldn't pay off , most still owed 3k+ and it shocked me how many were 30 something single mums
first time i done any repo work and don't think i could do it full time , real eye opener !
we re-possessed 6 cars (had about 12 to look for) and all were because of £500 - £1000 loans that they couldn't pay off , most still owed 3k+ and it shocked me how many were 30 something single mums
first time i done any repo work and don't think i could do it full time , real eye opener !
15-05-2009, 05:25 PM
#29
I'm Finding My Feet Here Now
Join Date: Oct 2008
Location: Telford
Posts: 103
Likes: 0
Received 0 Likes
on
0 Posts
Just over 2 years ago I had a car repo'd by this company. I bought a Golf 4 2.0 gti for cash from a local garage. The car was HPI clear no finance etc. I had the car for several months when my wife and I arrived home in it one day only to have a mercedes sprinter van with a trailer on it and block us on the drive.
I got out of the car to ask what the hell was going on when one guy walked past me jumped straight in the car and locked himself in it!!
Finance had been taken out on my car 3 months after I had bought it using it false documents!!
I called the Police who threatened to arrest me if I did not let them take the car!!!!
6 weeks later the car came back to us, trashed! It was scratched, dinged, dented scuffed, interior bits missing and all sorts.
Log book loans had issued finance on my car to some I****N chap in Birmingham with out seeing the vehicle just documents. The guy had financed over 40 cars using false docs and was never seen again!!
I got out of the car to ask what the hell was going on when one guy walked past me jumped straight in the car and locked himself in it!!
Finance had been taken out on my car 3 months after I had bought it using it false documents!!
I called the Police who threatened to arrest me if I did not let them take the car!!!!
6 weeks later the car came back to us, trashed! It was scratched, dinged, dented scuffed, interior bits missing and all sorts.
Log book loans had issued finance on my car to some I****N chap in Birmingham with out seeing the vehicle just documents. The guy had financed over 40 cars using false docs and was never seen again!!
Thread
Thread Starter
Forum
Replies
Last Post
borboyous
Cars for Sale
6
22-08-2015 11:17 AM
