| When you get your car registered, you get a file | | | | loans, hence the rate of interest is low. You also |
| from the government. This file contains | | | | get longer repayment periods. You can repay the |
| information about the make and registration of | | | | loan in 10 years or lower. You can also pay off |
| your car. It is a very important document and | | | | the loan as soon as you get some extra money. |
| should be taken care of carefully. It contains | | | | But in this case, you have to pay some |
| information such as the car chassis number, | | | | prepayment charges. You should check for the |
| registration number, engine make and much more. | | | | per cent the money lenders charge as the pre |
| It also contains your car’s insurance. Now you | | | | payment fee in case you pay off the loan before |
| can use this file to avail car log book loans. | | | | you go for the loan. |
| You may ask how a creditor can give you a loan | | | | Once you pay the loan off, you get the original |
| based on this file. As this is a very important file, | | | | car log book back. As this is a very important file, |
| you cannot do without it. You need it whenever | | | | you should always keep a Xerox copy of this file |
| you go for an alignment, for insurance or any | | | | before you submit this file to the money lender. |
| other task related to the car. And thus, it is very | | | | This helps in double checking whether everything |
| valuable, equivalent to an immovable asset. This is | | | | is intact. Car log book loans are very useful for |
| the reason why most money lenders use this file | | | | people who need long term loans but do not have |
| as the collateral while sanctioning loans. | | | | any immovable property to keep as collateral. |
| This car log book loans are treated as a secured | | | | |