We’re proud to be a member of the CCTA and operate by a strict Code of Practice. That means we lend responsibly and have been helping people for over 15 years!Code of Practice
Logbook loans are a way of borrowing money using your car to secure a loan. The amount of money we can lend you depends on the value of your vehicle and how much money you can comfortably afford to repay.
Lending is secured against your car using a document known as a Bill of Sale which allows you to keep your car while your logbook loan is being repaid - we just keep hold of the V5 / logbook.
As long as you are named on the v5 registration document (or “logbook”) as the registered keeper of the vehicle and there is no outstanding finance on it, we can lend you from £500 upwards (subject to a successful application and affordability checks) but it’s important to remember that the money you borrow is secured against your vehicle and you may incur extra charges, impair your credit rating or have your vehicle repossessed if you do not keep up the repayments of your logbook loan secured on it.
Once your loan is repaid, we simply return your vehicle’s logbook to you.
All applications for logbook loans are treated individually and we always ensure that each customer can afford to repay the money we are lending prior to agreeing the loan. If you wish to borrow money from Mobile Money there are a number of items we will need to see before we can agree to lend you money.
Firstly we need to see proof of your income to ensure your loan is affordable and the vehicle’s logbook (V5 Registration Document) so we can confirm that you are the registered keeper. We will also need to see your passport or driving licence in order to confirm that you are the person named in the documents as well as a recent bill or letter which includes your name and current address.
We must also check that there is a valid MOT certificate, tax and insurance on the vehicle but if you are unable to provide these documents don’t worry, we can avoid delays to your application by getting confirmation online.
Finally, we will need to see your car so we can make sure that we have valued it correctly for you. You can either bring your car / vehicle to your nearest branch or we can arrange for one of our team can come and meet you at a more convenient location.