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In today’s blog, we are going to talk about all things cars from a monetary viewpoint!
Claiming for a car incident
If you have been involved in a car crash, you will no doubt have a million questions running through your mind when it comes to making a claim for compensation. This is why we have put this post together; answering some of your most frequently asked questions.
- Can I afford a solicitor? A lot of people are worried that they will not be able to afford the costs that are associated with hiring a solicitor. However, you should look for a solicitor that works to a no win, no fee basis, as this is much more affordable and monetary risk is reduced by a significant degree.
- Will I have to go to court? Unfortunately, we cannot give you a definitive answer, as every case is different. However, it is extremely unlikely that you will need to go to court. In fact, fewer than three per cent of personal injury cases results in a trial, as it is in the interests of both parties to get everything resolved as quickly as possible.
- What can I claim for? Compensation is split into two parts. Firstly, you will be able to claim for the car crash injuries that you have sustained, whether in a car accident or claiming with an 18 wheeler accident lawyer for this type of incident. Secondly, you can claim for any costs that you have suffered because of your injuries. This includes the likes of travel costs, vehicle repair costs, loss of income, treatment expenses, counselling costs, and such like.
- How long do I have to claim? There is a three-year time limit on all personal injury cases, which means that you have three years from the date of the crash to make a claim. This may seem like a long time but there is certainly no time to waste.
- How much compensation will I receive? It is impossible to say without knowing the ins and outs of your case.
- What if I am partly at fault for the crash? You can still make a claim if you had a role to play in the incident, so long as you were not wholly responsible. It is vital to note that the compensation amount you receive will be a lot lower to reflect your involvement.
Borrowing against your car
Nowadays, more and more people are needing to lend money than ever before. There is no denying that the damning effects of the economy downturn are still having an impact. Yet, if that wasn’t enough, living costs seem to be rising by the day as well. Thankfully, lenders have adjusted to this need, and there is a lot a lending methods to choose from today.
A car log book loan is a prime example of this. This is a loan that will be secured against your vehicle. A lot of people like this option as they still get complete access to their car, the ability to borrow up to 70 per cent of its current worth, and if they search around they can find repayment terms to suit them as well. Nonetheless, the real question is, will you be eligible for this type of loan? Let’s find out…
It is pivotal to stress that all lenders are different. Therefore, one lender may require more information than another. However, this post will assess the general criteria that you can expect all lenders to require. Yet, you should not be alarmed if they ask for anything in excess of this.
Firstly, you will obviously need to be over 18 years’ old and have a driver’s license. The vehicle in question must be in your name and it must be paid for in full as well. Your car’s insurance and MOT must be up to date. Aside from this, you will also need to prove that you are capable of making the repayment terms outlined in the contract. This is extremely important, as it shows you are a credible borrower. Thus, you will need to hand over income slips, or prove your income in some other way.
If you are able to meet the criteria that have just been mentioned, you should be able to find a car log book loan to suit your situation. There are plenty of lenders offering this type of loan. So, make sure your search around effectively to find the best one for you. And, don’t be alarmed if they ask for anything else from you!