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Thanks for visiting my site.  You are probably here because you are researching short term loans.  I hope this site can assist you in finding the information you need.

After years of research into various loan types myself and taking out quite a few loans I realised that there just wasn't enough coverage of loans from an independent perspective.  No-one tells you the truth, it seems there is always a hidden agenda to make sales.

This blog is set up to be the opposite of that, it is just a wealth of information about loans that I hope will answer lots of the questions you have.  The site is growing and I will add as much as I can on an ongoing basis.

Wednesday 18 June 2014

I have bought a vehicle with an outstanding loan balance, what do I do?


It is said that the second hand car market is the most complained about issue by consumers says the Office of Fair Trading (OFT).

If you are unfortunate to buy a second hand vehicle with an outstanding loan balance it is recommended to get in contact with whoever provided the finance straight away.  There is very little protection for people who buy a second hand vehicle with a logbook loan which is why there are campaigns to cancel these types of loans as they date back to the Victorian era and don't reflect how society has changed over the years.

HPI checks
Calculating a loan


It is up to the buyer to do their research, and pay for an HPI check (ones that are free have been known to be wrong) to make sure the vehicle has no loans against it.

Another hidden secret to look out for is that HPI checks will not tell you about financial data which could result to you buying a vehicle with an outstanding agreement.  It is said that one in three cars that are checked through HPI usually have some sort of hidden history.  HPI checks can also report stolen vehicles, it is said to recover on average 19 vehicles a day.

In order to stay safe from HPI when purchasing a second hand vehicle you should conducting an HPI check to confirm whether the vehicle has an outstanding balance against it.  If there was an outstanding balance it allows the vendor to pay this off before the purchase is complete.


Logbook loans are an industry that grows in hard times, with people looking for business from desperate borrowers offering an extremely high interest rate.  People have found it difficult to obtain loans in more traditional ways so they have turned to logbook loans in order to give them better options.  

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