Q. Can I get a loan if I don’t have a perfect credit history?
A. Yes, it is still possible for you to get a loan. Each application is treated on its own merits. Our goal is to provide a loan that is both suitable and affordable for you. If we can’t, we won’t lend to you.
Q. How soon can I get my loan?
A. We pride ourselves on being able to provide a loan within 24 hours of you applying (subject to suitability and affordability) and can often fund a loan within 60 minutes of approval.
Q. Do you do credit checks?
A. We are a responsible lender so when considering your application we will assess your financial circumstances which includes carrying out a quotation credit search (also known as a “soft credit search”) which will not affect your credit score.
Q. Can I get a loan if I’m self-employed?
A. Yes. We will ask you to provide proof of income via either accounts, income tax returns or recent bank statements.
Q. How old does my car need to be?
A. Usually less than 10 years old. However we can lend against older cars depending on the value of the vehicle.
Q. Can I keep the car during the loan period?
A. Yes, we will just hold onto the logbook for the car whilst you are repaying the loan.
Q. Can I pay the loan off early?
A. Yes. If you are considering this, please call us on 0808 132 2020.
Q. How do I make repayments?
A. Most of our customers pay by debit card but you can also pay cash into any branch of NatWest. We can also use “CPA’s” or “Continuous Payment Authorities”. We do not accept payments by credit cards, cheques or direct debit.
Q. What happens if I can’t make the loan payment?
A. Contact us as soon as possible. The worst thing you can do is ignore the situation. We all go through bad patches and we will do everything we can to help you such as discussing options including payment plans and arrangements (often referred to as “forbearance options”). We want to help you and repossession of your vehicle is always a last resort. However, remember: 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. For impartial advice and help with debt click here.
Q. What do I do when I need to tax my car?
A. You can just use the DVLA tax reminder or renew the tax online. If you need the vehicle documents just get in touch. Call 0808 132 2020
Q. What happens if you have to sell my vehicle?
A. Selling your vehicle is always the last resort, however if we are left with no alternative or you choose to surrender the car to us, we will get the best possible price. Any money raised from the sale of the vehicle above the outstanding loan balance will be refunded to you.
Q. What is a ‘Bill of Sale’?
A. A Bill of Sale is a document we apply for that gives us security over your vehicle.
Q. Who are the FCA?
A. The Financial Conduct Authority (FCA) regulates the financial services industry in the UK. Its aim is to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers. Mobile Money Limited is authorised and regulated by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS
We made the process as straightforward as possible
Call 0808 132 1001 or Apply Online
Once approved, one of our Local Nationwide Agents will come to visit you at a convenient time and location for you to Sign and Complete your application.
You could have your money in your bank account in as little as 60 minutes from Approval.
We’re happy to help!
If you have any questions or need assistance regarding logbook loans or AutoMoney. Feel free to contact us on 0808 132 1001