Using Your Car as Collateral for a Loan

Using Your Car as Collateral for a Loan

Loans that use your car as collateral…

“Car as collateral loans” are a great way to release the value tied up in your car or vehicle and can be a good way of providing extra money when you need it most.

Loans with a car as collateral allow you to borrow money against the value of your car / vehicle by using it as security via a Bill of Sale. At Mobile Money we provide loans with a vehicle as collateral and we ensure that any loan we provide is affordable and suits the customer.

This kind of loan allows you to keep using your vehicle throughout the life of the loan as long as you keep up your repayments. Vehicle as collateral loans are often quick turnaround with many being paid out within 24 hours however you mustn’t rush into a loan that is not right for you just because it pays out quickly as your vehicle is at risk if you cannot keep up your repayments.

A loan with a car as collateral may seem like the perfect solution to your financial requirements and a quick way to secure the money you need, but always make sure you are dealing with a reputable loan provider that has your best interests at heart such as Mobile Money.

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189.9% APR Representative

If you borrow £1,000 over 18 months at an interest rate of 111.3% per annum (fixed)

you will make 18 monthly payments of £116.31 with a total amount payable of £2093.58.