Deceiving - Do NOT Trust them
I have recently been on the market for a new car, so as you do, you make a few calls to make sure you can secure the best deal possible as there is ALOT of variances in the current market. I did make a call to 360 Finance as we had used them previously, seemingly without issue, this time round though....
I made a call to their sales department and spoke with a lady (not mentioning any names), I clearly stated that I had used them previously though I am just checking to see where their current rates are, so it was a "Quote ONLY".
So after being on the phone for a few minutes and noticed that i was getting asked a heap of questions, like questions you get asked when lodging an Application, i asked this person again, "this is not an application is it?", again this lady said "no, just a quote"... Anyway, I persist with the bombarding of questions for nearly 10 minutes, during this time I would have had to of asked this lady another 5 times at least, "Are you SURE this is NOT an Application", each time she stated "NO, definitely not, just a quote".
Well, at the end of the conversation she says that someone will be calling you tomorrow to finish this quote for you, i just said again, not an issue as long this is a quote only and not application, again she confirmed that no, just a quote....
So ok, tomorrow rolls around and low and behold, i get a call from Ian saying that am I ready to finish the "Application"... I instantly seen red and told him what an absolute lying bunch of (using nice words..) people they are. I told him that the lady i spoke with flat out lied to me multiple times when asked that this was for a quote only, when in fact she was logging an application.
In short, do not trust these people, they will out right lie to your face.
**Sorry for the long winded review, just this experience has absolutely ticked me off...**
Do not use 360Finance. The experience has been very poor as the broker will not disclose a complete story of the finance ("quote" an interest rate"). They have avoided providing an actual figure of interest rates using a hypothetical loan amounts without affecting or wrecking your credit profile. And beyond that have further affected my rating while applying for a different loan.
Under a consumer law, they have to disclose an interest rate figure prior to loan application (especially for car loans). And everytime this is discussed, they will try and avoid the topic.
They cannot confidently argue on your behalf (when denied credit) even on a strong income. And it appears to be a poor submission to the finance companies. Do not let the advertised “low interest rates” fool you.
They won't tell you their in house fees as they'll skirt that question by telling you they can't tell you what they charge until the loan is confirmed.. which in one way is true in regards to the bank loan rate, however in another - much more accurate way - they can actually tell you upfront that regardless of this rate they'll charge around a $1450.00 'bank/application fee' (most banks are around $250 or less total with no other fees) just to tie the loan down .. then they combine these amounts into the loan amount without asking as they know that you will also be paying back end interest to them on those fees as well via the creditor..
Then there's the $9 per month loan fee, $20 default payment, $20 if they ever have to chase it due to a default, $10 if you ever need to know how much is left outstanding or ask any questions then $50 + $20 per month to pay the loan out early.. the best part is that they won't give you this information until it's almost too late to try to bind you into getting the loan whether you want to or not... plus at the last minute as other people have noted they will ask for a significant amount of other, never previously mentioned, info likely to tie you up with getting that rather than potentially allowing time to search for other loans.
The financial protection products they try to sell you include up to a 75% commission which they do disclose as they're required to - however if you really want this stuff go to anyone of a thousand insurance brokers who will give it to you for literally a fraction of the cost....
Finally if you call out the ridiculous fees while refusing the loan they'll tell you that they "won't work for free" while pointing to their approx 7% loan rate; which actually becomes an effective rate of about 14% compared to the 5.9% banks will offer when you factor in their fees; i.e. approx 250% of the loan rate you could likely get elsewhere.
There's 'free' and then there's a disgusting attempt to legally rip off financially unsophisticated people and for some strange reason I feel this fits into the latter....
from previous reviews it seems they attempt to try to claim most things on here are untrue or 'wrong' for some reason and if that occurs my response will be to go to the effort of attaching the schedule of their fees and commissions they provided so please feel free to tell me why I'm wrong as well... unless I'm correct of course and you don't want to respond and I mean any response and I'll be posting those fees..
I did leave this review for free though, and in a sense I'm 'working' to inform other clients of your amazing fees for you though so you're welcome!
Highly Recommend Ian
I spoke to Ian who was able to explain the process simply as it was my first loan. He was professional but also wasn’t transactional which was so nice. Great!
Amazing service - thank you!
I got my car loan September 2018 with 360 through Craig and it was such a great experience, amazing service! From start to finish I found the contact to be very prompt and Craig was fantastic to deal with. Craig was really friendly and was always wonderful in answering my (many!) questions. 360 made everything super easy and crystal clear. I was able to buy my dream car, so happy! Thanks for everything 360 :))
Low income earners don’t waste time
Really bad. People are not at all professional and don’t have courtesy to call back and reply to emails. Stay away from Clair because if u are a low income earner she is not gonna help you nor she gonna talk to you if u call them back. Stay away from the whole company.
Tim was excellent, highly recommend dealing with him
I can not recommend Tim high enough, he was helpful friendly and got back to me in a timely manner, he really went out of his way to accomodate my needs and got it done quickly. I will note some of the other staff not quite so nice, I would not recommend calling on a Saturday. The other thing I will mention is that delays aren’t always the finance companies fault, sometimes the dealer is very slow to provide documentation - it doesn’t hurt to follow up on delays, you may be able to speed the process up. All in all highly recommend Tim for all your financial ance needs - they can also help with all insurance and warranty as well, really took the hassle off having to chase after it myself - and it all came in cheaper than the dealer!
Tim is fantastic, request him for any loan
I can not recommend Tim high enough, he was helpful friendly and got back to me in a timely manner, he really went out of his way to accomodate my needs and got it done quickly. I will note some of the other staff not quite so nice, I would not recommend calling on a Saturday. The other thing I will mention is that delays aren’t always the finance companies fault, sometimes the dealer is very slow to provide documentation - it doesn’t hurt to follow up on delays, you may be able to speed the process up. All in all highly recommend Tim for all your financial needs - they can also help with all insurance and warranty as well, really took the hassle off having to chase after it myself - and it all came in cheaper than the dealer!
Awful Customer Service
Avoid dealing with Simona, she doesn't respond to message and has a bad attitude. The experience was extremely poor, I asked to withdraw my application as I had been approved quicker elsewhere and due to this declined it (rather then withdrawing it). I am reporting them to the ombudsman as I don't believe that they acted ethically.
Awful follow up experience
I had a great call on my initial enquiry for a car loan. I was surprised at how much personal information was required in order to obtain an interest rate quote based upon the information I gave. In the follow up email I was annoyed to discover that the company would not proceed any further with giving me a quote without obtaining my drivers licence and 2 payslips. I advised by email and by phone on a follow up call that I did not see the need for that sort of detail just to find out what my interest rate might be and from which lender. I felt I have already given enough information and am happy to provide this detail once I am given the information I want. The email stated this is required for a pre-approval. I am only wanting to enquire what my rate will be before making a decision on which lender to go through. To be told this is how they do it and there is no other way, I find deceptive and misleading from the ad on carsales which says enquire now.. quite different to this is a pre-approval. Unhappy with this service and how the team leader handled my feedback.
The customer service we received from Nicole Evans was exemplary, we could not fault her.
A very impressive consultant and a true asset to 360 Finance, Queensland.
In the current times of off shore call centres and lack of personal service, it was very refreshing to deal with a consultant of her calibre.
Terrible Experience with 360 Finance
The customer service on the 1st call was excellent - thank you [name removed]. However when it proceeded to the next level, i was surprised how a loan can be declined for a silly reason as "Your Contract document has an end date to it" With the same documents, condition and criteria i got an approval from another broker and finance company. It is the broker's responsibility depending on the customer situation which lender to present the profile to and before submitting the application, do all checks. A credit score impact of a client due to incorrect assessment is not acceptable. You guys should improve your process on shortlisting a Finance company and be 100% sure before submitting the application.
I couldnt ask for better services
Fantastic service, from my first call the staff have been amazing to deal with.
It was an extremely easy and an extremely pleasant experience in what is usually a daunting task.
Dylan my consultant was most definitely professional and quick to response to all of my questions. THANK YOU THANK YOU THANK YOU
Absolutely perfect! Can’t fault these guys at all
360 finance recently helped me out with my first loan to purchase a car and I could not be happier. They were extremely quick with finding me the most suitable and cost effective loan especially being an apprentice. Alex is a legend, he helped me out every step of the way and was happy to answer all the questions i had as this was my first loan, these guys are extremely helpful and I definitely wouldn’t recommend anyone else except for the team at 360 Finance.
They were the first one I went to for my first car purchase. and it was a breeze and helpful. I did not even expect the turn around time for my application. Lesley, ( who is no longer there) is very helpful and not pushy type of a consultant. She even gives me tips on how to deal with a car dealership. That was 4 years ago, and I am still looking forward to help me though in the near future.
Brokers can only do there best
360 finance try’d There best in every aspect despite me getting angry with time delays wich can’t be helped.We ended up getting our loan for our car approved wich we are very gatefull for. I think it’s important to rember these guys are brokers and can only do there best.At the end of the day it’s upto the lender. Shout out vannesa for sticking through the application an getting it done.Thanks!
Horrible Customer Service. I asked for a loan that would only be for 1 year which they approved me on. I was then later on told a few days before I was to sign the contract that the actual loan term was 3 years, with hidden costs that was never mentioned. Was never told about the interest rate when asked. Was never told who the lender was. even though under the Australian Consumer Law they are to disclose this type of information and not hide it till the last minute. Said I would not be able to get a loan from any other finance company, yet the people I had a talk to before 360 Finance said I just had to wait 2 more months and I would be approved by them. Their facts are nothing but Sales Puff. Lying Scumbag company waiting for a lawsuit to happen. Competitor Rates are all 7-12%. How does it end up at 22%?
Pathetic for the broker that was helping me to degrade me just because I "wasted their time and that I would never get a loan at my current state" when they in fact wasted mine. To have to pay 40% of the loan I want as just the cost of them helping me, What a scam.
Never. Told. Me. Anything. Important. Till. I. Was. About. To. Sign. The. Contract.
Did not even send me a copy of the contract till I requested the same day I was meant to sign it. Only then Was the hidden costs shown.
Don't waste my time and I won't waste yours :)
Contacted them via website to finance a $165k car. They said they can help and had experience with large amount as this. I told them that please do not run credit check until they are sure they can finance. They asked to fill out a large form and asked for all documents. After filling out all documents, they said that they will run a credit check. Told them, they aren't allowed to. Then they simply told me that no credit provider will finance large amount! Completely wasted my time with their paperwork and processes and nearly ran a credit check where they really cannot help. May be they can help for smaller amount. Later, I got an approval from CBA myself by dealing with them directly.
These guys would have to be the most stressful finance company that I have ever dealt with. They told me my loan was approved yet they would not tell me the interest rate.They stressed the seller out as well.I have applied for a lot of loans over the years ,I have never been through so much stress as i have with 360 finances.I canclled the loan and went to NMRA and had an answer within 3 hours and settlement the next day. I,have been sending documents to 36o for near on a week and still didn't get any straight answers.
Never again and they have the hide to want to charge $900 .I don't believe they are working in the best interest of the borrower I am of the opinion they are working in the best interest of 360 finance.
Never got back - had to chase up multiple times
I had a terrible experience with this company. Quick to take all of your info, but when it comes to calling you back they are lazy. They either don’t communicate properly so the broker can call you back, or they just don’t care. When I called for the third day in a row I was belittled and spoken to rudely by the broker who was meant to help me. He told me he was very busy and will call as soon as he can to let me know. I let two weeks slide by missing my chance to buy a great car for a great deal. Called them and told them to cancel everything and take me off the call back list if there was one even. Not a fast service, don’t recommend and don’t rely.
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