3 Reasons Why Caring Car Loan Advisors Ask a Lot of Questions
You’re likely not a person who reveals all their secrets. Some tidbits of information, whether they are about our childhood or a recent experience, are better left unsaid. When seeking a car loan, some individuals may feel reluctant when sharing information about their circumstances. In fact, if a credit advisor asks a question the customer feels is too intrusive, they might “pull back”, by telling white lies, a full-blown tale (which almost always backfires), or outright declining to answer in the first place. You may have felt an inclination to respond in such a way. However, it’s important to know that what may seem like an interrogation, is actually an advisor taking interest in you and working on your behalf.
Why Hesitation is Normal
First and foremost, wanting to keep certain details about your life and credit hidden is normal, and expected. The emotions and thoughts that come with difficult circumstances are often uncomfortable, and we don’t want others to remind us of them. In terms of bad credit and car loans, there are three common reasons why you and other individuals may want to keep the details hush.
One of the main emotions associated with a less than favourable credit profile is embarrassment. Generally speaking, family members and close friends may have had high expectations for you in terms of financial success. If this is true in your family or circle, and your credit score is not the greatest, you may feel like you have let these individuals down. So when someone asks you questions about your credit, your mind starts to ponder what your family and friends might say about your situation. Such thoughts are often the result of our minds naturally going too far. However, it’s vital for you to remember that your situation is one you can manage and overcome.
Closely related to the issue of embarrassment is the privacy factor. Perhaps you’ve phoned or received a call from a credit advisor, with people in the background or right beside you. This may have been in your home, or while out for dinner somewhere. While we’re not advising you to keep your troubles secret from those who care about you, it’s understandable if you want to keep some details under wraps for a while. However, that get’s tricky when an advisor starts asking you questions that require you to give answers which perk up the ears of those around you. And when some people suspect that you are in some kind of trouble, you can trust them to start snooping around. For these very reasons, you may not want a representative to ask you too many questions over the phone.
You may have read the two paragraphs above and laughed, thinking to yourself that you are neither paranoid or self-conscious. However, there still might be a tendency to keep certain bits of information secret. Why? You’ve been conditioned to do so. From a young age, your parents may have told you never to reveal personal or financial info over the phone. So you may have kept this practice for years, dodging questions or refusing to answer them in the first place.
Nosey for Your Own Good
There’s no denying that credit advisors will often ask a string of questions. But there are good reasons for doing so, and they don’t involve bothering you. In fact, you can look at these questions as a means of establishing a relationship that will help you find auto financing plans that agree with your circumstances, and improve them.
It’s easy to fall into negative thinking if your credit is poor. You might even think of the person at the other end of the line as being superior to you, financially speaking. But they too may deal with financial difficulties. They may not have the same circumstances as you, but they too have their struggles in life. As a result, your advisor will naturally be an empathizer, and they will feel moved to help you further if you are open and honest about your challenges.
Some people may feel like those selling them car loans are over-zealous salespeople. That may be the case in some establishments, but a company worth its salt works with a different approach. A company that truly cares focuses more on how their services can move you in the right direction. For example, such an enterprise would focus on auto financing that suits your credit situation, instead of spending too much time trying to sell you a high-end sports car. Although you don’t have to delve too much into your personal life, giving a few details often motivates a credit advisor to go that extra mile.
The emphasis on delivering value takes us to our third point. A credit advisor who truly takes interest in you wants to see you succeed in the long term. Not only do they want you to be approved for a car loan, they want to see that you have a financing plan that makes it easy for you to make consistent and timely payments. Your ability to do so works toward the improvement of your credit over time.
Questions to Ask Yourself When Dealing with Credit Advisors
Whether you plan on getting a prime rate or a bad credit subprime car loan, it’s worth paying close attention to your experience over the phone. In other words, you should consider the questions an advisor asks you over the phone. Ideally, you should strive for an experience that looks like the following:
- They are interested in your life circumstances (without asking for too many details)
- There is an expression of sympathy if you tell them about a certain difficulty
- They provide pointers for making decisions (but not flat out credit advice)
- They focus on finding what you NEED as opposed to what you want (ie. your ideal auto financing plan instead of your dream car)
- They promise to check on you to make sure you are comfortable with making payments
Questions Aren’t Your Enemy
What may seem like an interrogation to you, is really an advisors way of getting to know you better. Think of them as one of your friends. The more a person knows about you, the easier it is for them to sympathize with you, laugh with you and celebrate with you. Likewise, give your credit advisor the opportunity to help you, by allowing them to ask you questions. What they have to offer is a lot more valuable than a car loan!
Are you looking to speak to someone about securing a bad credit car loan? Get in touch with one of our associates, so we can help you get started!