FAQs

How do I apply?

All you have to do is access our website and fill our online application form. Once we have your information, we ensure that there is no delay in its processing. As soon as we are done processing your application, we get back to you to confirm details and schedule an appointment.

What happens during the appointment?

During the appointment, our car valuation expert will meet you and inspect your car. The idea of this meeting is to get a closer look at your car so that its value is determined. Once the inspection is concluded, our expert decides upon a value. We then offer you a high fraction of this estimated value as a loan.

What if I have poor credit ratings?

This is not an issue. One of the best features of our logbook loans is the relaxed credit rating requirements. Regardless of what you have to show for yourself, we are more than eager to let you go home with our loans. Even if the credit rating you have has contributed towards many rejections in the past, it will not get you the same result here at Mushroom Loans. If you are confident enough to keep your car as collateral, we are more than eager to trust you with our money.

Why not opt for an unsecured loan instead?

Unsecured loans may seem attractive from a distance, given that they do not require you to keep a collateral. While this scenario does have lesser risk, it does not necessarily mean it is a better deal. The first thing to consider is the relatively lower rates. The rates of unsecured loans are generally sky-rocketing, which can easily sour the taste and affect your willingness to ever opt for such a loan. Next, there is the high credit rating requirement that you must endure. Anything less than perfect and expect to land a rejection. These loans are also extremely slow in their processing, as lenders try to play safe. Even after this, there is little or no certainty as to whether or not your loan will be approved. Still think an unsecured loan may be a better choice?

Will I be bound to accept the offer?

No. It is only when you sign the contract and all the legal formalities have been concluded that you become bound by the contract. Before that, you have all the freedom to look elsewhere and ponder upon the choice you have.

What happens to my car after I accept the offer?

The practical ownership stays with you, while all we hold is the logbook. That is right, you get to keep your car. Unlike other collaterals that exist, given the importance cars hold in our everyday lives, the case with our logbook loans is different. You will drive back with the loan in the same car you used to secure the loan.

Which car should I use?

Given the fact that the amount of the loan is a fraction of your car’s worth, if you happen to have a choice between cars to secure your loan, choose one the estimated value of which you expect to be nearer to the amount you need. However, before any of your cars qualifies to be able to secure the loan, certain requirements must be fulfilled. The car you decide to use must not be a part of any existing finance, it should be legally yours, and it must also be entirely insured. If all three of these requirements are met, there is virtually nothing standing in your way to getting your hands on one of our logbook loan. Fill in our online application and get started.

Where can I get more information from?

One choice is to explore our website. If you still need further information, feel free to contact us and ask us what you need to know. Alternatively, you can check out websites like Logbook Loans Review and to get to know logbook loans even further.