A comparison of non-bank payday loans is a bit easier when it comes to choosing a loan online. In addition, almost 50% of Internet users use the search engine and comparison engines to find a loan company.
What’s more, not only searches for loans over the internet, but also in the further selection process, uses the comparison engine to select the best loan.
Why are we so eager to use the Internet when looking for internet loans? The matter is simple. This is not only easier access to the network, but also the new distribution channels, definitely more loan companies than a few years ago, and the offers are more and more professional. We can therefore suppose that the comparison of non-bank loans will develop and increase their popularity even more.
Comparators determine the trend
What gives the client a comparison of non-bank loans? First of all, we have offers of loan companies and internet loans in one place. We can distinguish here the comparison of payday loans and the comparison of installment loans. Secondly. Some of them also allow you to express your opinion about the loan company or the loan offered. And the opinion of other users and Internet users is very important. Few people decide to use the services of a loan company without checking what other people write about it. That’s why such a large number of forums, sites with opinions about loans and discussion groups.
A comparison of non-bank loans is an opportunity to find the most attractive loan quickly and at the same time convenient for yourself. At the same time, loan companies want to be in such a search engine or a comparison engine, because it allows you to increase sales and consolidate brand awareness among customers.
The best comparison of non-bank loans
You can compare practically everything from phones to washing powders, including loans and credits. The first comparison sites concerned bank loans. They proved to be a good sales channel, which is why this way of presenting and selling the product was also adapted to loan companies. And it must be admitted that they are very popular. We use the non-bank loans universally and are popular when we need extra quick cash. And the choice is easier if on one page we have a ready list, always valid, loan companies and offers of payday loans or installment loans. The selection becomes easier, as is the analysis of loan costs and the creation of a non-banking online ranking.
We have several comparison websites for payday loans and installment loans on the internet market. They differ from each other in graphics, the way products are searched and presented, the number of loan companies, but each of them redirects to a selected loan company in which we set up a profile and send a loan application via the internet.
Promotion of non-bank loans
Taking into account the popularity of online comparison websites, it can be stated with full awareness that consumers are not able to make a decision on their own, and the place of a particular loan company is treated as a ranking of loan companies and influences the choice made. On the other hand, competition on the non-bank loan market can only improve the sales offer of loan companies that the customer will benefit from. The loan prices in the longer term should decrease slightly, but some radical moves can not be expected.
Not for everyone
Getting a non-bank loan is not as easy as it may seem. Therefore, an advertisement such as ” loan for everyone ” does not correspond to the truth. Loan companies doing business on the Internet in the first quarter of 2016 rejected… 70% of loan applications from new customers. The reason for rejection is not a surprise and it is a lack of creditworthiness or a bad credit history. Yes Yes.
Loan companies must calculate their creditworthiness before they give them the least amount of payday loans (according to the Consumer Loan Act). They also check consumers in internal databases, debtors’ databases, other public databases, as well as in shared information exchange databases.