LoanOnYourCar Creates A Fool-Proof Loan That’s Perfect During Coronavirus

A car loan company has developed a loan that people can take full advantage of during the coronavirus lockdown. This provides people with an influx of cash when they need it most.

April 7, 2020 / / —

A mass pandemic has caused economic uncertainty for many individuals. As a consequence, the need for emergency funds is greater than ever. LoanOnYourCar has unveiled a Vehicle Equity Release loan that’s best suited to the current climate. It allows individuals to use their car as a source of money. It’s similar to a logbook loan, but with some fundamental differences that make it easily accessible for those in need.

A Completely Contactless Application
Most lenders have ceased operations due to the COVID-19 pandemic. However, the key feature of LoanOnYourCar’s Vehicle Equity Release is that everything can be handled online. With a traditional logbook loan, car owners have to surrender their logbook and hand over their spare keys to the lender. A home visit is also usually required to check the health of the car. Neither of these things is safe or recommended when there’s a virus on the loose.

This Vehicle Equity Release loan requires no physical contact with another human being. The entire application can be completed online, and there is even an e-signature to sign all the legal documentation. Nothing needs to be handed over personally, and the car inspection can be handled via a video call. With some loans, a formal credit check is also required in-person. Again, this is made redundant as LoanOnYourCar calls upon an online affordability assessment called Mogoplus.

All of this means that individuals can apply for a loan without leaving the house. Social distancing can be maintained, and there’s no risk of anyone catching the virus. The loan amount is electronically sent to the bank account of the borrower, further negating the need for physical contact.

Greater Protection For Borrowers
With a normal logbook loan, borrowers are only protected by the antiquated Bill of Sales. In contrast, customers are protected by the Hire Purchase agreement with a Vehicle Equity Releases. This offers the borrower more comprehensive protection in case something goes wrong. During these unsettling times, it’s best to get as much protection as possible.

About LoanOnYourCar
LoanOnYourCar is an innovative company that allows people to use their cars to gain access to money. People are able to apply online in just a few minutes. All applications are dealt with instantly, meaning approval can be granted on the same day. By calling upon clever technological measures, any consultations or inspections are carried out digitally. This allows borrowers to get the money they need on the same day that they applied for it. With many people hit hard by the financial demands of COVID-19, LoanOnYouCar hopes to offer a solution to those that need it.

Additional information can be found on https://www.loanonyourcar.com/. Please contact Dimi Voutselas for any press enquiries at dimi@loanonyourcar.com or via telephone: 07845819689. Direct mail should be forwarded to this address: 333 Edgware Road.

Contact Info:
Name: Dimi Voutselas
Email: Send Email
Organization: LoanOnYourCar
Phone: 07845819689
Website: https://www.loanonyourcar.com/

Source:

Release ID: 88952760

More News From Daily Tech Geek

Climate activist: Why tout development if there's no future?

May 25, 2020

NEW DELHI — An Indian girl who was among the 16 young activists filing a complaint at the United Nations accusing countries of inaction on climate change has taken that step before. Ridhima Pandey, now 11, filed a petition in 2017 at India's National Green Tribunal, which oversees environmental concerns, for not taking serious enough steps to combat climate change. It was dismissed, but she escalated it to the Indian Supreme Court. Pandey was among the activists including Swedish teen Greta Thunberg who criticized Germany, France, Brazil, Argentina and Turkey for failing to uphold their obligations to young people under...

Pakistan battles dengue epidemic, with 20 deaths so far

May 25, 2020

ISLAMABAD — Pakistani health officials were battling an outbreak of dengue fever in the South Asian nation on Tuesday, a day after health officials confirmed over 10,000 cases and 20 deaths in recent months. More patients with symptoms of dengue fever were arriving at hospitals in all major cities, including the capital Islamabad, putting a strain on the country's poor health system. Health officials hope that the anti-mosquito spraying in urban areas targeting stagnant water will help contain the disease. According to Zafar Mirza, a government adviser on health, as many as 10,013 dengue cases had so far been reported....

Over 30 Indian worshippers drown during Hindu rituals

May 25, 2020

NEW DELHI — More than 30 Hindu worshippers have drowned in swollen rivers and in a lake in India as thousands participated in religious ceremonies in which figures of a Hindu god are immersed in water, officials and news reports said Friday. At least 11 people drowned when their boat capsized early Friday on a lake in central India, rescuers said. Six people were able to swim ashore in the lake in Bhopal, the capital of Madhya Pradesh state, and a search was on for one missing person, said National Disaster Response Force spokesman Krishan Kumar. Kumar said 11 bodies...

India loses communication with its unmanned moon lander

May 25, 2020

NEW DELHI — India's space agency said it lost touch Saturday with its Vikram lunar lander as it aimed to land on the south pole of the moon and deploy a rover to search for signs of water. The space agency was analyzing data as it worked to determine what had happened. "Communications from lander to ground station was lost," said K Sivan, chairman of the Indian Space Research Organisation. "The data is being analysed." A successful landing would have made India just the fourth country to land a vessel on the lunar surface, and only the third nation to...

Protest in Nepal against plan to cut trees to widen road

May 25, 2020

KATHMANDU, Nepal — More than 200 people rallied in Nepal's capital Thursday to protest government plans to cut down about 2,000 trees to widen a key road that circles the city. The protesters held signs urging the government to stop the plan to remove the trees on the outer edge of Kathmandu. The 27-kilometer (17-mile) Ring Road encircles the capital and is a key road network for the increasingly congested city. "These trees were controlling pollution and giving fresh air so they cannot be cut down to make roads," said Saurav Dhakal, a protester. "Kathmandu is suffering from massive air...

About Us

Daily Tech Geek delivers Technology news only covering the multiple fields in the industry.

Contact us: sales[at]dailytechgeek.com

Subscribe Now!