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frank harrisonPeel, WA
Interest rate advertisement is a joke
I had recently paid off a 20,000 dollar loan at 9,5 % with RateSetter in half the time, after which I received numerous emails inviting me to borrow again, at interest rates as low as 4.5%. Finally wanting a updated car, I reapplied seeking there personalized low rate expecting better than the 6.5% offered by the car yards finance, and after the online rate was not given when I applied, was told by the RateSetter's rep the interest rate would be 18%. With repayments around $850 pm, after telling him the other offer he suddenly found a rate of 13 pc (you have to question the motivation) but still a hundred more a month than the car yard. Not good by a country mile.
2 comments
So let me get this right, this excuse justifies a 18 % interest rate after sending me emails offering me 4 to 6% after paying off a 9% loan in half the time, and here I was thinking you were pulling ... Read more
my leg, more like trying to cut it off and sell it for extra profit. Don't botherSimilar opinion? Write a review on ieatwords.com.au!
DabuekSydney, NSW
- 6 reviews
- 10 likes
Currently on my second loan with RateSetter, can't fault the service!
I initially signed up for a loan for a second family car last year. The sign-up process was painless, and managing the loan via the RateSetter portal is a breeze. You receive email and SMS reminders about your monthly repayments, which can be handy if you don't have the process automated.
I later went in and adjusted my payment schedule to get that loan paid off within 12 months, and am now on my second loan with RateSetter to pay out the residual amount on the lease of our family car. Again, I can pay it off as quickly as I like, and the port...Read more
al gives me a good overview of payments made and the upcoming payment schedule. I'd definitely recommend RateSetter to anybody looking for a hassle-free personal loan, and the bonus is that you don't have to deal with a bank.Similar opinion? Write a review on ieatwords.com.au!
Desmond BlurtonPerth
- Verified customer
Brilliant and exceptional
I was so taken by the professionalism of Kirsten Waldron, and enthusiastic approach in guiding me through the whole process in finding a settlement for me to agree to sign. I am very much appreciated of her work ethic and equally appreciated that I can now buy a car with loan. Hi
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- Verified customer
Professional and prompt
A great experience, hassle free and very competitive. Undercut the normal car loan rate offered by dealerships significantly! a very quick service. Thank you Savvy and Ratesetter and the representative who helped me
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Review collected in partnership with RateSetter
StefBrisbane
- 2 reviews
- Verified customer
Excellent financial option better than my bank
Basically my bank of 30 years was uninterested in assisting us for car loan and rate was ridiculous rate setter through stratton broker was awesome Fabulous and easy with best interest rates around fixed rates no penalties to pay off early did all the paperwork online from my hospital bed basically so easy
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- Verified customer
Perfect smooth transaction
I had got my loan using Stratton through Rate setter. Both companies were very professional and couldn’t of helped further.
Lovely smooth loan application and car purchase.
Thanks
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- Verified customer
frofessional car loan
I did my car loan through loan solutions wich he's charged me 2500 dollars . I didn't know rate setter from online otherwise I will do my loan directly from your company with 700 dollars application fees only. much better than intermidiate cost me 2500 dollars. anyway I'm happy with your company and I would like to see your company online like others company.
thank you.
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Chris MasieroMelbourne
- 7 reviews
- Verified customer
Very very good
I hunted around everywhere to arrange financing for the balloon residual on my car loan. I could not get any decent rates on personal loans for it, and the existing finance wouldn't budge from what I considered far too high rates.
RateSetter provided BY A VERY LONG WAY the best rates. I get text msged every month on the current rate before it comes out. Rate setters variable rates from its market system basically meant that I would be able to pay off a loan for the residual in 2 years for the same amount per month as 3 years on the other personal loans. Fantastic.
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CharlesPerth, WA
- 2 reviews
- Verified customer
Great experience
Great outcome hassle free process i'll have no hesitation in recommending ratesetter to my workmates and friends family and anyone.
August 16th 2022 Update: Second time around
Secured a substantial ratesetter loan last year at a very attractive rate had just paid over 1/2 back then the car needed replacing so refinanced with no trouble quick easy just like the 1st time
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- Verified customer
Perfect, efficient, everything was organised within 5 days
The team at RateSetter was punctual, kept me in the loop, up front about fees and rates and ended up getting a lower than advertised rate for more than I was expecting. They handled everything in a professional manner, answered emails on time and did a great job. Better rate than my bank, secured my dream car which is older than your standard secured loan and some extra money to boot. I can’t recommend these guys enough. Thank you!
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- Verified customer
Simple and effective
Simple and easy process, great service and great rates. Highly recommend them for anyone who is looking for a car loan
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- Verified customer
Exceeded expectations! Will get all my future loans!
Application to account deposit in under 24 hrs! Nick achieved the unachievable to get me paid in 3 hours so I could buy my car that day. Total repayments saved me $300 from the best that my bank could offer! These guys will get all my family’s future loan needs!
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SlimGympie
- Verified customer
Excellent Service
Excellent customer service, quick approval and wasn't a hassle to deal with at all from start to finish.
5 stars.
June 5th 2018 Update: Quick, Easy, Simple and Approved
Applied online, easy process didn't even have to talk to anybody to get approval, approved quickly last step was getting the car dealer to send through the paper work picked my car up 2 days later. Too easy thanks heap ratesetter.
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Cats FanMelbourne
- Verified customer
High fees not disclosed up front
I applied for a secured car loan and was accepted at 9.5% interest, which was not particularly competitive, but better than NAB, ANZ and so on.
If you read the terms and conditions, there are various fees which are disclosed upfront but without any actual dollar values. The first time you see these fees is once everything is approved and you're ready to accept the offer. Fair enough, this was a very quick process. I applied at around 4pm and was accepted and ready to go at 11am the next day. Can't fault their efficiency. However, once I log...Read more
ged in to accept the loan, I could see that there was a $750 contingency fee, a $195 set up fee and a $3 a month management fee. That's $1125 in fees in addition to the loan interest. This equates to a comparison rate of 13.35% not the 9.5% agreed. In terms of a monthly payment it really doesn't matter whether it's interest or fees you are paying on to of the capital amount, it's still money out of your account. I didn't take up their offer. Would I use them again? I doubt it. You can get a much better rate at a credit union, or even a bank so why bother? If they need AAA borrowers like me to pay $750 to offset their risk of bad debts there's something amiss. Save your time and effort, there's better lenders out there. On a side note, I'm highly suspicious of all the 5* reviews. Take them with a huge pinch of salt. You have been warned...Similar opinion? Write a review on ieatwords.com.au!
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ScotchefCairns
- Verified customer
Hassle free loan
I was seeking a car loan and my bank was not very helpful.Ratesetter reviewed and approved my loan very quickly and with absolutely no problems.The rate I received was also significantly less than the major banks
I did enter some of my details incorrectly and customer service corrected them quickly and it was a pleasure to talk to an Australian.
I would definitely use this company again should i need any further financial help.
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Noelzmelbourne
- 4 reviews
- 4 likes
Life Saver!!
So grateful we were able to be given the chance to finance our first car here in Australia. We were in a desperate situation to find a car before the end of the month and out of all the companies that declined our application because we've only been in the country for less than 6 months, rate setter stepped in.
Amazing and prompt service. would highly recommend. Thank you.
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Olivia
- 2 reviews
- 1 like
- Verified customer
Excellent service and rates. Highly recommend them!
I went through ratesetter to finance a car and I can honestly say they service they provide is amazing! I had a woman who helped me through the entire process and explained anything I didn't understand. She went above and beyond to ensure I was able to finance my new car and get it as soon as possible. They are clear about the fees involved and offer excellent interest rates with no hidden costs. I'm very happy with ratesetter and would highly recommend their services!
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Really good and handy on line
Really good communication. Kept up to date on what was happening. Very easy on line application and being so quick I got the car I was after. Thank you Stephanie
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Straightforward, fair, personal service
The end to end process of getting a relatively small unsecured loan has been quick, clear and easy. I was able to borrow an amount to finance a car purchase and have been very impressed with the rates and service on offer, particularly the no early repayment charges. Every adviser I have spoken to has been informed and professional, and I am very impressed it has all been agreed and implemented in under a week. Very pleased, would recommend to anyone.
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Simple, Easy and Great Response Time
Got my first ever loan for a car through these guys. Knowing next to nothing coming in they were super helpful, always contactable and friendly through the whole process and got me a great deal in super quick time. Highly recommend giving them a go.
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Steph P.RateSetter
Hi Frank,
nterest rate. You may previously have paid a Risk Assurance Charge at the commencement of your loan; this charge is now reflected in your interest rate rather than an upfront fee. This does mean that the interest rate may seem to be much higher than your previous loan.I'm very sorry for the delay in replying to this.
We have recently made some changes to our fee structure, in particular, the addition of a Risk Assurance Rate being incorporated into your i... Read more