Below are some common questions we get asked. If you have another question which isn't answered here, then please contact us and we will answer any concerns you may have, no matter how big or small.
Q. How soon can I get the cash?
A. The same day. Providing you can attend one of our 11 High Street locations with your car and paperwork, then they will be ready to give you your cash there and then.
Q. How do I apply?
A. Click here to apply or simply call your nearest branch. To find your nearest branch click here
Q. What Documents am I required to bring in for you to copy?
A. We require a copy of both parts of your driving licence, passport and 2 utility bills (no older than 3 months).
Q. What do you keep for the duration of my loan?
A. We require the Logbook, a spare key, current MOT and any Service Books. These will all be returned when you settle the loan. Please remember the car must have a Valid Road Fund License and MOT (if applicable).
Q. Will you contact my employer?
A. Not usually and not without checking with you first.
Q. Can I get a loan if I have CCJs or a bad credit history?
A. Yes. Providing you are the Legal owner of your car, we lend on the strength of your car value and your ability to repay. Each application is treated on its own merits.
Q. Is my application confidential?
A. Yes. Absolutely.
Q. How old does the vehicle need to be?
A. Usually less than 9 years old. We lend against older cars as well as motorcycles, touring vans, light commercial vehicles and almost anything else with a value. Please do contact us if your car is older and you feel it is worthy of our consideration to buy or lend against – TGS are here to help wherever we can.
Q. Are you regulated?
A. Yes. We have a consumer credit license, which allows us to act as a lender and we abide by all other laws regulating consumer credit.
Q. How do I make repayments?
A. We can accept most forms of payment apart from credit cards and direct debit. These include cash into our branches or any branch of Barclays Bank. We also accept postal orders, bankers draft, debit cards and standing order payments.
Q. What are the early settlement penalties?
A. There are absolutely no penalties for settling accounts early. In fact, we positively encourage this.
Q. What happens if I can't pay?
A. We work very closely with any client who is making an effort to repay their debts, however if there is no willingness or absolutely no intention of repayment then your car will be claimed by our 3rd party debt recovery agents and sold on our behalf to recover the amount owed. If you feel that you are struggling to make payments, please contact us straight away – we are here to help.
Q. I am self-employed; can I still get a loan?
A. Yes.
Q. How much will it cost?
A. We charge a monthly interest rate of 10%. So if you borrow £1000 your monthly charge will be £100.00. This charge will be added for each month that you have the money and would will not be more than the initial amount. A variable Document Fee will be charged dependent upon loan value.
Click here to apply nowQ. Must my vehicle be free of any 3rd Party Finance Agreements?
A. Yes. We will not be able to lend on any car that has any Finance already secured against it.
Q. Where will my car be kept?
A. In a dry and secure storage facility, close to the Lending Branch.
Q. Will I be able to gain access to my car during the loan agreement?
A. No. Please, remove all your belongings before you leave the car with us.
Q. How much notice do I need to give to get my car back?
A. As soon as you settle the loan, we will have the car back with you that day.
Q. How long is the Maximum Loan Term?
A. A standard pawn agreement lasts for a duration of seven months. If requested, at the end of this period we will be happy to review, to determine suitability for a new pawn agreement, lasting an additional seven months.
Q. Can I Pawn More than one vehicle in my Name?
A. Yes, you can Pawn as many vehicles as you like.
Q. Will I be charged for Storage?
A. Yes there will be a monthly storage charge which will be kept to a minimum, these will be passed to you.
Q. Can I Pawn Any Vehicle?
A. Yes, as well as Moderns Cars, we will lend against, Classic Cars, Motorbikes, Motor Homes, Caravans, Lorry’s, Vans, even Tractors in fact anything with a value.
Click here to apply nowQ. Must I be the legal owner of the vehicle?
A. Yes. You must be the legal owner of the car and be able to produce ID that matches the Vehicle Registration Details.
Q. Must the vehicle be free of finance?
A. No. We will do our own checks with HPi and as long as there is a positive equity figure left after we settle the finance then we will pay you the balance – of course if the vehicle value is less than the finance owed then unfortunately we will be unable to help.
Q. How do you base your value of my vehicle?
A. Your car will be valued in line with Current Trade values as presented in the Buying Guides and will also fall in with current market conditions.
Q. What do I need to bring in?
A. Apart from the car itself, the V5 Registration Document is essential – of course we would expect the current MOT together with any previous ones, service history receipts - the more you bring in the more we can pay!
Q. Must my vehicle be taxed and MOT’d?
A. No – but the price that we pay may reflect this.
Q. Will you buy any age vehicle?
A. Yes – we will consider any vehicle, everything has a value!
Click here to apply now
The TGS brand is built on an established, trusted high street presence that has spanned over 20 years. The TGS brand slogan is “Trust the experts”. We are a business that has grown because of our reputation and quality of service for over 20 years.
