Price Comparison Sites for Personal Loans… Proceed With Caution!

The pitfalls of flexible personal loan comparison sites…

When someone is in need of a flexible personal loan, they often turn to price comparison websites. These sites have a reputation amongst consumers for being fair and objective. They simply give you a broad range of loans and are always upfront about which loan companies offer the best loan deals, right?

However, in truth, price comparison sites can sometimes be misleading in their estimations for personal loans.

A consumer might expect these companies to trawl through deals and offers and provide all the necessary information for a person to make a sound judgement as to which loan company they should turn to.

This is not the case for many price comparison sites. They are businesses, after all. Therefore, a lot of price comparison websites use a practice whereby a loan company will bid money to be included on the price comparison site. Of course, as they are paying money to be included, they will be displayed in a favourable light.

Price comparison sites here in the UK have only very recently been reprimanded for their misleading language and their commission-based listings for energy tariffs. According to the financial website, consumers were being duped into switching energy tariffs because of misleading information provided by price comparison sites.

This begs the question – how many more areas of price comparison are they using this practice?

So if you are looking for a flexible personal loan and you turn to price comparison websites, are you, as a consumer, getting the best value loan for your needs? And what about loan companies who offer attractive deals for consumers but refuse to bid to obtain a place on price comparison websites’ listings?

In reality, many loan companies choose to overlook price comparison sites and they do not become embroiled in the prolonged bidding wars to gain a place on comparison sites.

So how does the typical consumer know who to trust? If someone is willing to become a detective-of-sorts and undertake a little research themselves they will find that Simple Fast Loans (a trading name of Loans 2 Go Limited) are competitive and an appealing loan company with which to take out a flexible personal loan.

Simple Fast Loans do not muddy the water. We are transparent and upfront with our loan offers. What you see is exactly what you will get. This can be a great relief in a world where supposedly ‘fair’ and reasonable price comparison sites do not reveal the very best deal for the consumer.

Why not take a look at just some of the reasons why Simple Fast Loans provide a straightforward and reasonable service for anybody looking for same day or next day cash. Remember, a little personal research can go a long way, and we are here to show you, honestly and transparently, why taking out a small short term loan with us can be easy and rewarding.

*All figures and rates correct at time of writing