Before you get a much-needed logbook loan, be sure to read this Mobile Money review so you can make an informed decision and avoid any pitfalls with such lenders. After all, you don’t want to go with an unscrupulous lender, do you?
A log book loan is a short-term loan (up to 6 months with mobile money) that is secured against your car’s log book. This is one of the surest ways to get the cash you need today. The lender holds on to your log book while you drive the car and make loan repayments. These types of loans are possible because a log book loan is based on the assumption that a car’s log book is a valuable asset, containing all the vital details about your car and is essential if you need to repair or give it service in the future. It’s also convenient because, as mentioned above, instead of using your car as collateral for the loan, which would mean giving up your car for the term of the loan, you’ll still keep your mode of transportation and be able to use the money you’ve come to available to you.
Mobile Money is one of the UK’s oldest and largest book loan providers and has the lowest APR available, lower than all its competitors. The typical APR is 385.2% (typical means two-thirds of your customers have this APR or less).
This rate is even lower than typical payday loan rates, where the APR for payday loans can be many multiples higher. A logbook loan can save you money and is a great alternative for people who might otherwise have gotten a payday loan.
Logbook loans are also easier to qualify for than payday loans since almost all logbook loan lenders do not perform any credit checks. So for those of you with poor credit, and also for those of you who don’t have a full-time job, don’t worry, you’re likely eligible for a logbook loan, even if you’re not eligible for a logbook loan. payday. Even the self-employed and bankrupt are eligible.
Mobile Money is also noted for having one of the fastest approval decisions. And once approved, you can get your cash in less than 15 minutes. Typically, when you apply online, they will meet with you to verify your car and that you are who you say you are. So you can get the cash there and then!
Mobile money loan between £100 and £25,000, subject to a minimum valuation of your car. Ideally, the car should be less than 8 years old. Their loan service is only offered in England and Wales.
Of course, the usual requirements apply. You must be over 18 years of age and live in the UK and more specifically England and Wales (as mentioned above). Additionally, you must be the legal owner of the vehicle, and your vehicle must be finance free.
Regarding payment methods, Mobile Money accepts most forms of payment in addition to credit cards and direct debit. These include cash at your branches or at any Barclays Bank branch. They also accept money orders, money orders, debit cards, and standing payments.
