What Is A Logbook Loan, Plus – Is Mobile Money A Decent Lender? – Mobile Money Review
A logbook loan is a type of short-term loan that is secured on your car's logbook. Getting a logbook loan must be absolutely the most effortless and fastest way to secure the amount of money you need on short order. You will still hold on to the car and can drive it, while the lender only takes hold of the car's logbook for the duration of the loan payment. Read more about logbook loans: www.logbookloans.uk.com/mobile-money-review.html.
One logbook lender in the United Kingdom that we can recommend is Mobile Money, they are one of the most flexible lenders on the market. The typical APR for their clients is 385.2% (typical here means that two thirds of their customers have this APR or lower). This is less than other logbook lenders ask.
While this rate is low, it's even smaller when compared with the typical rates for payday loans – APRs with those types of loans can be more than 5 times as high. If you've been considering a payday loan, then getting a logbook loan instead will help you save some money (sometimes a lot of it).
Logbook loans are also easier to get, as almost no logbook lenders at all require credit checks. So even if you thought you are completely unsuitable for getting a loan – if you are not a full-time employee or otherwise not eligible for getting a payday loan, or have bad debt or a bad credit history, you can still get a logbook loan if you own a car. It's even completely acceptable to be completely bankrupt otherwise.
Mobile Money are notable for making decisions on their applicants very fast. In the best case, you could be holding the money in 15 minutes. After submitting the application form online, the company will meet you briefly to make sure the car is valued correctly, and you'll receive the money on the spot.
The loan amounts with Mobile Money can range from anywhere between £100 to £25000. The car must not be older than 8 years. Mobile Money is available for people living in England and Wales, so customers in Ireland and Scotland are not eligible.
To read more about this lender, click here: Mobile Money log book loan or here: Mobile Money reviewed.
Tags: mobile money review