What You Will Find In the Vehicle Finance Category
We Help You Make Sense of All the Vehicle Finance Options Coming Your Way
Some of the best things in life are free, but the rest often needs to be paid for. When it comes to vehicles, vehicle finance is often the go-to product for consumers. The thought of sliding in behind the wheel of a shiny new muscle car may seem like a viable option. However, sensible choices often provide customers with a sense of financial control. Overspending on vehicles is one of the fastest ways customers experience a downward spiral in their finances -- especially when funding car purchased with personal loans. But our reviews tackle a different aspect of vehicle finance, and that is whether they have the customer’s best interest at heart.
Vehicle finance is often taken by those who wish to purchase a new or fairly pricey vehicle. They require funding for the difference between the purchase price and their down payment. Finance structures around the world may work a little different. For instance, some financial institutions require the vehicle as an asset to protect the loan, while others treat the loan as they would a personal loan.
Also, consumers often have the option to bypass the bank and deal with a direct auto loan company or division. Often, they are able to negotiate good deals and low interest rates, however, they should still get a quote from their bank and compare the costs. A lower rate does not always mean a lower installment, as the services fees and other hidden fees could make up the difference in savings very quickly.
We Take A Closer Look At the Products They Have To Offer
The authors at critical-reviews.com often hail from the industries they write about -- whether that's Forex trading, regular trading or any other financial instrument. At the very least, they have sufficient knowledge to form a concise argument. They take a closer look at the products and services offered and provide a comprehensive review. These products and services, and sometimes even the institutions themselves, should meet the strict criteria set out. Although there are product ranges that tick all the boxes, some don’t. These reviews separate the great from the not-so-great.
What’s more, the authors have no obligation to favor any institution, product, or service. If they meet the standards set out by the team, they have the opportunity to receive perfect ratings. If not, there is no pressure for the author to inflate the score to make the review more favorable. This means that the final review the customer reads is the unbiased and truthful measure.
We Take the Hassle Out of Research
Consumers who wish to shop around for the ideal product, or simply just get a bit more information won’t have to go any further. We do the research on all the offerings from the individual institutions. We also break down their terminology into bitesize chunks to ensure that readers understand the basics of their products. Although this is by no means meant as advice, it does provide the reader with clarity regarding their options.
What Happens When We’re Struggle to Find Information on the Product?
One of the biggest hurdles we face is one that consumers face as well. The hurdle? Lack of information. When writing a review, we try to get as much information on the product as possible. We have come across institutions that have all their products in a jumble. The vehicle finance products are no different. Often we find pricing to be the hardest bit of information to come by. The pricing determines whether the contract will be a cost effective option for the customer. However, the lack of information makes it difficult to determine. What’s worse is when the average interest rates are also not displayed. If it makes our job hard, it means that consumers suffer the most. We go in with our noses to the ground and try to sniff out all the information. Consumers simply move on to the next product.
We feel it necessary to rate a vehicle finance product down where there is little or no information on it. We also detail our reasons for the rating in our comprehensive review conclusion. Unfortunately, if an institution has enough low scores on their products and the product ranges, the overall scores could be affected.
We Clarify Some Technical Points
As part of our review, we often include a little bit of information about the institution to put the reader in the picture as to their history. This will also give them an indication whether the institution is traditional or modern as it affects their lending model. Other parts that consumers may not always understand, is the difference between the various finance options. For instance, some institutions offer Hire Purchase and Lease Agreements, such as Standard Bank. Other institutions don’t go through all that hassle, and offer the loan as a personal loan instead, such as National Australia Bank. Other things we point out when the information is available, are the term options, rate options (variable or fixed), and even average down payments required.
3 Different Review Types that Link Up to Vehicle Finance Reviews
Whether vehicle finance is offered by a bank or other type of financial institution, there is a good chance we would eventually get to it. We put it through its paces and at the end, hope to present the reader with a concise review. When we do the review on the institution as a whole, we hope to create a rating that will accurately reflect the user experience. Additional research we may include in this type of review are reviews from other review sites, consumer satisfaction, and even what the rating agencies such as Moody’s and Fitch’s have to say.
The Product Range
We feel inspired when we come across a financial institution that offers a range of products to suit different financial needs. Perhaps it is because we know that each vehicle finance is not a copy-and-paste exercise of past or future finance deals. When the range consists of only one product, it tends to deflate us a little. This is unless we can tell that the product offers customers the option to customize their finance and include special items, such as two-wheelers, motorhomes, and more.
When these options are not available, those who can afford a luxury item or a different type of vehicle will either fund it cash or look for an institution who will. This makes it a big risk for the institutions, as customers can look around at competitors who will offer them a comprehensive range. One of the most comprehensive vehicle finance ranges we’ve reviewed thus far, is from State Bank of India.
The Individual Product
Every once in a while there is a product that peaks our curiosity and we simply have to take a closer look. It’s either received critical acclaim from customer satisfaction polls, or it could be quite the opposite. When we decide to take a closer look at the product, we try to determine whether it is in healthy competition on a global scale. The criteria we have is that the product needs to meet the needs of the customer, not only line the pockets of the institution.
What We Would Like To See In the Ideal Vehicle Finance Product
From a consumer’s perspective, it’s vital to have finance that is in place fast and without too much hassle. The price is also important. From a review perspective, we dig a little deeper to determine whether the consumer has the best deal at hand. These are some of the criteria we use to determine this.
Speed and Efficacy
One of the things that get us all excited is when an institution promises to provide a customer with an answer within x amount of hours. This gives us the assurance that the institution is a well-oiled machine and there are enough consultants to deal with the request.
Ease Of Access
Institutions that don’t have branches in every town or city, should make their applications available online. Accessibility also extends to the different customer segments, and what the institutions do for them. For instance, Bank of America offers Accessibility and Disability Vehicle Loans.
One loan product for the entire customer base just doesn’t sit well with us. Just as much as customers want to go out and shop around for their perfect car, they also want to find the perfect deal. This is tough to do when there is only one product on offer.
When we come across an institution that sells benefits without providing the customer with the cost, we become a little skeptical. This is because the institution is more focused on the sale and promoting their product than providing quick and easy education to save their customers hassles down the line.
Who Is Behind the Reviews Found On critical-reviews.com?
This is a team of dedicated authors who are willing to go where few other review organizations dare to. We are determined to find the best, and worst of them all and provide readers with a clear and insightful review of some of the most used products and services on the planet.
The best part is that readers don’t have to pay a subscription fee to have access to these reviews. They merely have the click on the various links provided to take them to the next. Professional and honest form the foundation of these reviews. This ensures the reader has the best information on hand.