There’s a lot of loan companies out there who will claim to have your best interests at heart. But they’ll charge high rates, have hidden fees or even penalise you for paying extra off your loan. All these things make more money for them, but can leave you worse off. So how can you pick loan company you know you can trust? At Car Cash Point, we have the answer.
You usually only look to take a loan when you have something big, or fun, to put up money for, whether it’s a car, a holiday or a home DIY project. But sometimes life can throw a spanner in the works and leave you with an unexpected financial hole to fill. An emergency car repair, sudden breakdown of your washing machine or any other unforeseen event can throw you off course.
In those situations, you need a loan company that you can trust. One who will deliver what they say and not leave you high and dry. Any company that provides a service in any sector has customers that are either satisfied or dissatisfied. And in a world where information is at our fingertips, you can easily find any amount of information, both good and bad, in the form of online reviews to help you make a decision based on other people’s experiences.
Statistics show that a huge 92% of consumers now read online reviews, so it’s more important than ever for companies to deliver what they promise. It’s also worth noting that 40% of consumers form an opinion on companies by reading between just one to three reviews. So it stands to reason that if those reviews are poor, then potential new customers aren’t going to trust that supplier. And the same applies to loan companies.
You may be well aware of the worldwide online review site, TrustPilot. This is an independent review site where people can comment any company or business they’ve used in the past. You can write your own review based on your personal experiences, as well as giving that company a rating of between one and five stars. Car Cash Point currently has over 1200 reviews from our customers, leaving us with an ‘Excellent’ rating of 9.5 out of 10 overall.
A transparent loan
The quality mark of a good money lender is how they treat a customer if they need help and not just when they initially take out the loan. When Car Cash Point speak to any customer regarding a new loan or any existing customer about their current loan, our number one aim is to help them. We ensure every aspect of our logbook loans is explained and understood at the time of application. And we clarify any fees or charges you might incur, making sure nothing is hidden.
We pride ourselves on being a transparent, ethical and, most of all, trustworthy loan company. With years of experience in helping people with the finances they need, we’ve gained the trust of hundreds of satisfied customers.
If you’re considering a logbook loan, Car Cash Point could present you with your best option to put your trust in and make sure you get the best deal. But beyond our excellent customer reviews, both on TrustPilot and www.carcashpoint.co.uk, we’ve listed some things to look out for when you’re after a loan company you can trust:
A fair rate of interest
Many logbook loan companies charge an excessive amount of interest, with some APRs reaching as much as 450%. The APR from Car Cash Point is almost half that amount and we have one of the lowest interest rates around, together with a ‘best rate promise’ guaranteeing that if you find a cheaper price on another website, we’ll beat it by 10%.
No hidden fees
You should really look at the small print to understand what any fees or charges will be before you submit your application. But always ask your lender at application stage what these charges will be. Some will charge you for phone calls, letters, even texts, as well as your late payment fee. Car Cash Point do not impose any hidden fees and we’ll even give you a 3-day window to get your payment to us, just in case.
Many logbook loans lenders will impose a minimum period, usually three months, before you can settle and pay your loan off in full. Why should you be penalised for settling your loan early? Car Cash Point are the only UK logbook loan lender that allows customers to settle their loan early, even after just one day – 100% penalty free.
All logbook loan companies should accept overpayments against the original loan amount together with the reduced interest. Car Cash Point are the only UK lender that do this, letting you make overpayments as many times as you like and only charging you interest on the lower balance that’s remaining.
Make sure you never accept a loan repayment term that will put you in financial difficulty. Car Cash Point are the only UK lender to offer completely flexible repayment terms. We know everyone has different financial situations and with us you can choose weekly, fortnightly, four-weekly or monthly repayments that suit your own finances.
No credit checks
To put it in simple terms, don’t choose a lender if they require a credit check. Your application will no longer be private and the check will remain on your credit history for many years, whether you were successful in your application or not. Car Cash Point are the only UK logbook loan lender who does not require any formal credit checks.
Taking all these benefits into consideration, we believe Car Cash Point is one of the most trustworthy logbook loan companies in the UK – and our online customer reviews will back that up. So when you’re looking for loan company you can trust, call one of our award-winning customer service team and have an honest conversation about the loan you need. Get in touch today on 0333 122 3181 and you could get your loan money in just one hour!