Logbook Loans Paid Out The Same Day


How Do Logbook Loans Work?

Logbook loans use your car as security and the amount of money you can borrow is in relation to the value of your car: the higher the value of your car, the more money you can potentially borrow against it.

What is a “Bill of Sale”?

If you use your car as security against a logbook loan you will be required to sign a document known as a “Bill of Sale”. The “Bill of Sale” document is what gives us security over your vehicle and means that we are technically the vehicle’s legal owner until you have repaid your loan. As a result of this we do not need a court order to repossess your vehicle if you do not keep up your repayments. For further details about the “Bill of Sale” click here.

How Much Can I Borrow?

We offer logbook loans from £500 up to £25,000 and the amount you can potentially borrow is based upon the affordability of the loan and the value of your vehicle.

Will I Qualify for a Loan?

We treat everyone who applies to Mobile Money for a logbook loan as an individual and we keep their best interests at heart throughout the decision making process. We assess each application on its own merits and ensure that applicants can afford their logbook loan repayments before we agree to lend any money.

In order to qualify for a logbook loan you must be the legal owner of the vehicle i.e. you are named as the registered keeper on the vehicle’s V5 registration document. The vehicle must also be free from outstanding finance and have valid tax, MOT and insurance.

LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. YOUR VEHICLE MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR LOGBOOK LOAN.

 

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