Tips to Find Cheap Logbook Loans
If you're planning to take out a logbook loan, you probably want to nab the cheapest deal available in the market. To do exactly that, below are simple yet practical tips that should help you along.
1. Use comparison sites
To easily and quickly whittle down your choices to the top logbook loan deals in the UK, you should take advantage of top comparison sites. These websites do not only have connections but they've been around for years helping borrowers compare options according to interest rates, loan amounts and terms among other factors.
2. Check out APRs
When comparing deals, checking the APR should be your first order of business. In the lending industry, APR or annual percentage rate was created to give borrowers a parameter to use when investigating the cost of a loan. Ideally, you should go for the deal with the lowest APR if you want cheap. But also remember that the one with the lowest APR do not always translate to cost-effective.
3. Read the small print
In addition to APR which already covers your interest rate and related charges for the year, other lenders bleed out borrowers with more charges and hidden fees. To avoid falling into the trap, it's important to read the small print. Doing so will clear things up especially when it comes to early repayment fees, late payment fees and more.