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 logbook loan is a short-term loan (up to 6 months with mobile money) that is secured against your car’s logbook. This is one of the safest ways to get the cash you need today. The lender holds on to his logbook as he drives the car and makes 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, as it contains all the vital details about your car and is essential if you need to repair or give it a second hand. 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 duration of the loan, you’ll still keep your means of transportation and be able to use the money that has come to be. available to you.

Mobile Money is one of the UK’s oldest and largest logbook loan providers and has the lowest APR available, lower than all its competitors. 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, as almost all logbook loan lenders do not run any credit checks. So for those of you with poor credit history and also for those of you who don’t have a full-time job, don’t worry, you may be eligible for a record book loan, even if you’re not eligible for a record book loan. payday. Even people who are self-employed and bankrupt are eligible.

Mobile Money also stands out as having one of the fastest approval decisions. And once approved, you can get your cash in less than 15 minutes. Usually 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). Also, you must be the legal owner of the vehicle, and your vehicle must be finance free.

When it comes to 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, bank drafts, debit cards and permanent payments.