FAQ
Below are some common questions we get asked. If you have another question which isn't answered here, then please contact us and we will answer any concerns you may have, no matter how big or small.
1 Q. How soon can I get the cash?
A. We pride ourselves as being the only loan company in the UK that can provide a cash loan within 30 minutes of you applying.
2 Q. How do I apply?
A. Click here to apply or simply call your nearest branch. To find your nearest branch click here
3 Q. Is the loan really paid out "same day"?
A. Yes.
4 Q. Is there any insurance product sold with your loans?
A. No. Mobile Money are great believers in keeping our agreements completely transparent (easy to understand). Insurance products have a place in our industry but are all to often oversold. If insurance was required then we would recommend using a specialist insurance company, who can provide your loan insurance needs at a competitive cost.
5 Q. Will you contact my employer?
A. Not usually and not without checking with you first
6 Q. Can I get a loan if I have CCJs or a bad credit history?
A. Yes. We lend on the strength of your car value and your ability to repay. Each application is treated on its own merits.
7 Q. Is my application confidential?
A. Yes.
8 Q. How old does my car need to be?
A. Usually less than 10 years old. We lend against older cars as well as motorcycles, touring vans, light commercial vehicles as well as almost anything else that we can put a value on.
9 Q. Are you regulated?
A. Yes. We have a consumer credit licence, which allows us to act as a lender and we abide by all other laws regulating consumer credit.
10 Q. How do I make repayments?
A. We can accept most forms of payments apart from credit cards. These include cash into our branches or any branch of Barclays Bank. We also accept cheques, postal orders or bankers draft. Debit cards including Solo, Switch etc. We also use standing orders or direct debit where required.
11 Q. What are the early settlement penalties?
A. There are absolutely no penalties for settling accounts early. We positively encourage this.
12 Q. What happens if I can't pay?
A. We work very closely with any client who is making an effort to repay their debts, however if there is no willingness or absolutely no intention of repayment then your car will be sold by us to recover the amount owed.
13 Q. I am self-employed; can I still get a loan?
A. Yes. Around half of our customers are self-employed.
14 Q. How much will it cost?
A. We charge a monthly interest rate of 10%. So if you borrow £500 your monthly charge will be £50.00. This charge will be added for each month that you have the money and would never ever be more than the initial amount.
