MyLogbookLoans has expanded the number of approved lenders that can offer quotes to their clients, making the competition fiercer and improving interest rates for borrowers.
Leeds, West Yorkshire -- (SBWIRE) -- 02/17/2015 -- In the ongoing economic downturn, where economic recovery is touted by the media but not experienced by the average man on the street, finding reasonable deals on finance is still difficult. Many people whose credit rating took a hit in the meltdown are still unable to secure a line of reasonable credit. For those people, Logbook Loans are a great solution, allowing people to borrow money using their car as collateral. MyLogbookLoans.co.uk is a website that allows people to get the best quotes from companies offering Logbook Loans, and has recently expanded the number of approved dealers in their listings to make quotes more competitive for borrowers.
Borrowers simply need to give a few details including the amount they wish to lend, the model and mileage of their car and their phone number in order to be contacted by companies who know they are bidding against the competition, and are thereby incentivised to offer the best rate possible.
By expanding the number of lenders that competition has now increased and borrowers stand to get a better deal than ever. Borrowers can get an instant decision on their eligibility for a loan and have the money wired to their account just hours after their initial enquiry, making it not only superior in value but more convenient too.
A spokesperson for MyLogbookLoans explained, "Payday loans and other forms of predatory lending are designed not to help people get out of their financial difficulties but to trap them in a debt spiral. Logbook Loans are a genuine alternative that offers real hope- the collateral allows people to secure lower rates of interest on higher sums, allowing them to make a real change to their financial situation should difficulty strike, or secure the kind of investment they need to get themselves earning again."
About MyLogbookLoans
MyLogbookLoans takes pride in helping customers obtain the lowest interest rates in the market today. The UK's leading logbook loan comparison website, they help thousands of customers every year. They put clients in touch with exclusive offers from the country's top-performing lenders, and are dedicated in helping overcome any existing financial difficulties.
For more information please visit: http://www.mylogbookloans.co.uk/