Deceptive Practices

[Guyatthebeach]

Difringe,

To be honest with you, I don't see any deceptive with this. It looks like a typical preselected offer. I take these preselected with a grain of salt. There is a huge difference between a preselected offer and an actually approved loan. A few years back when I was car shopping for a new commuter car, I had an pre-approved offer from PNC for 3.99% on the website. When they ran my credit for the loan app, it came back 1.99%, that's a big difference in my book. 

I get what you're saying, but I just don't put a lot of time into these offers.

Guyatthebeach

[GatorGuy]

@difringe I agree with you. Why put a range of the real top is 2.5x higher?

As you said, all they have to do is only quote the lower number. As it is, I would classify that as deceptive.

[difringe]

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@GatorGuy wrote:

@difringe I agree with you. Why put a range of the real top is 2.5x higher?

As you said, all they have to do is only quote the lower number. As it is, I would classify that as deceptive.

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i don't understand how ppl are reading this thread and not getting the point that i was making, but glad to see that you completely get it!

it's literally that simple, i don't even know what my apr would be because i didn't apply (pnc sends pre-qualified offers, but doesn't offer a soft pull pre-approval to my knowledge), but that's literally not the point that i was making 

[iced]

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@difringe wrote:i don't understand how ppl are reading this thread and not getting the point that i was making, but glad to see that you completely get it!

Again, most people got it; they just aren't irritated by it. Incorrect ranges, missing ranges, outright lies on marketing material -- shrug. Life's too short to waste emotional capital on marketing drivel.

If asked, I don't trust (or care about) the range in the fine print, either. If I want a real value for APR, I'll just have to apply and find out.

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[Anonymous]

I agree with OP.   Either go with the suggestion "rates as low as 5.99%" or put the range given but add the label "for well-qualified..." which is a meaningless term but at least would indicate that you MAY not get that range.

OPs irritation is simply because when you see a range (without any constraints) you might naturally assume that that is the complete range possible (except for say penalty APRs) and this is not the case here.

I also get that others aren't that moved, "ads are deceptive, yes, we know!"