Log Book Loans - Face Palm
Discussion
Is it little wonder that this is becoming a growing problem and that people (admittedly the more challenged ones) are being drawn in by them.
This appeared in my spam folder yesterday
which links to here
https://www.loanslogbook.com/va/
This appeared in my spam folder yesterday
which links to here
https://www.loanslogbook.com/va/
I'm not going to quote some ridiculous APR.
I wouldn't lend £200 to a "known defaulter mate" because I try and avoid the terminally stupid and would be unlikely to be "matey" enough with anyone like that to even entertain the idea.
The problem is that cars - with these very easily taken out loans attached - are often sold on to unsuspecting buyers.
These loans do not always appear on HPI checks.
The buyer then finds out the car they have bought isn't theirs and they end up either having to
a) lose the car
b) pay off the debt
c) recover the debt from the seller - fat chance if they are the type of person that would sell on the car in the first place.
I wouldn't lend £200 to a "known defaulter mate" because I try and avoid the terminally stupid and would be unlikely to be "matey" enough with anyone like that to even entertain the idea.
The problem is that cars - with these very easily taken out loans attached - are often sold on to unsuspecting buyers.
These loans do not always appear on HPI checks.
The buyer then finds out the car they have bought isn't theirs and they end up either having to
a) lose the car
b) pay off the debt
c) recover the debt from the seller - fat chance if they are the type of person that would sell on the car in the first place.
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