Poor Process and not what it seems..
Applied for £15000 loan for car purchase.
Comparison websites show that I could expect a 'Representative' APR of from 3.7%. This appears to be the cheapest on-line!
I already have nectar card and I have a good credit rating. How bad could this be I thought?
I applied on-line on a Saturday night, and waited with eager anticipation...
It took until the Tuesday to get an e-mail to be told I had 'Been approved In Principle' but 'you have not received our representative APR'. (But I was still not told the offered figure.)
I hadn't in all honesty expected to get 3.7% but expected something near or at least 'low'. (Although they are supposed to give it to 51% of applications!)
What I didn't expect was, I wouldn't find out my actual APR until I received my offer in the post. That was bad enough, however,
It took until the following Saturday for them to give me an excited letter that offered me 4.7% APR! What???
Really Sainsbury's? I feel totally misled. Lowest APR (searchable) ends up with me getting a quite high rate offered.
Even if I didn't get the 'actual' advertised, I at least expected a 'low' one.
On top of that it took 6 days to tell me! Useless!
BIG MASSIVE FAIL Sainsbury's!
I have now applied on-line elsewhere to get an immediate guaranteed offer lower than that.
Anyone reading this, please don't have high expectations with them as I feel that they have really insulted me with poor service and a rubbish offer.