464.4%
£200 - £25,000
Minimum Term 1 month
Loans from £200 up to £25,000 - 3 years
Cash
Transfer into their Barclays Bank
Postal Orders
Bankers Draft
Debit Card
Standing Order
Same day
No Fee
None Available
Cash
No
273rd for APR of 423 loans in the UK (See Lender League Table By APR)
110th for Customer Satisfaction (See Customer Reviews)
You will only be accepted for a Mobile Money Logbook Loan if you are the legal owner of a car which is under 10 years old and doesn't currently have finance outstanding on it. You will have to sign over ownership to Mobile Money, give them the MOT certificate, the logbook for the vehicle and give them a spare set of keys, however you will be able to keep driving the vehicle. You will be able to borrow a percentage of the value of your car, which they will let you know upon evaluating it.
You can apply online for a Mobile Money Logbook Loan. This should only take a minute or two to complete. The next stage is to get a call back from the lender to discuss your needs and agree terms, you can also request a callback by texting 'Money' to 80010. You will then need to drive in to a local Mobile Money branch to meet the lender. You then show your documents and sign your agreement. Once this is done you can receive your loan by cash. You then drive away in your car as normal and start making repayments as agreed with your lender.
As logbook loans are secured on your car, a bad credit rating is not a problem. Despite the security logbook loans have over your car they charge a very high interest rate of 464.4%. You must also be very careful with this kind of loan as failing to pay even one payment can lead to your vehicle being seized and sold at auction without court action. The charges for interest and missing payments are extremely high with people in some cases paying back over triple what they borrowed. This is really a last option and should be used with caution.
|
Default Fees |
If you go into default or arrears, they have the ability to repossess the car and sell it |
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Early Settlement Fees |
None |
Average Customer Review:
(15 customer reviews)
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What a service
J. wolves, Willenhall
3 months ago
i have had loans now for over 6 years with this company. I have never had a problem with them and always find they are friendly and reasonable. I have always been of the opinion that if you borrow money you need to pay it back, yes the interest is high but if you need quick cash and pay it back quick they are ok. The people that seem to be complaining...
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violent robbing loan sharks do not use them
Claire, Birstall
4 months ago
do not use mobile money they are bullies, im a single mum with a toddler and without notice they came to my house 2 fat men scared the death out of my child smashed my door and let car tyres down and then towed it, i owed 410 they APPARENTLY scrapped the car for 175 even though it was taxed mot and a picasso worth 2000, they wdnt let me get my child...
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Bullies
Calvin matapo, Birtley, chester le street
6 days ago
It is very true Mobile Money are Thugs who wear suits and think they can use their aggressive behaviour against desperate people. Well it does not work like that in this country I am afraid. It is not a crime to be in debt but it is to harass somebody. They are hounding me up to date but I have told them to do 1 as I will not co-operate just for them to do what they like. Keep a record of all calls made, all visits. Do not ever speak to them on the phone, make them send you emails instead so you can have everything in writing. If not record you conversations with them, you will need them once you sue the pants of those nutters. They even went to the extent of calling my work place pretending like they are someone else so that they can show up at my work place with baseball bats. Pretending like they are someone else, im sure that is fraud. To anyone who is thinking about getting a loan with these…….NEVER they will strip you dry. They are modern day EVIL. I am actualy fearing for my life because I think they are gangsters who are into this business and they can do possibly anything. If I happen to see 1 of them, I am running away.
Overall Good
Paul, Putney
2 months ago
Got what i needed, which was urgent cash. Not exactly like dealing with a Bank but i hate banks anyway lol. Loan was really fast and i paid it back early, it was quite a lot but all of these are a lot and at the end of the day I got sorted and the lads at Edgware were friendly and made me comfortable with them
scum bags
Neil, Luton
3 months ago
they lent me the money when i was unemployed,threatened me but the good thing was i had my heavys at my house when they threatened me,i would advise against this company,surely there is a law against this. They will say they will do this and that but found them to be all mouth,they never carried out there threats but maybe thats because of who i knew,but please please please DONT USE THIS COMPANY!!!!!!!!
St Crispins Street, Duke Street, Norwich, NR3 1PD
0800 9871 500
