TotallyMoney has just driven a new wave of innovation into the car finance sector with the launch of TotallySure, a groundbreaking service designed to put customers firmly in the driver’s seat. With TotallySure, borrowers receive pre-approval, guaranteed rates, loan amounts, and terms, making car financing more transparent and reliable than ever before.
Transforming the Car Finance Landscape
The car finance market, now worth a staggering £40.7 billion, has powered the purchases of over 2.2 million vehicles in the past year alone. Despite its growth, the industry has been plagued by a lack of transparency and trust, with many customers receiving less favorable terms than advertised. TotallySure aims to change that.
Brian Dammeir, Head of Europe at Plaid, praised the initiative: “SMEs are the backbone of the UK economy. We’re delighted to help Capital on Tap make it easier for SMEs to seek mission-critical funding.”
A New Era of Car Finance
TotallySure addresses several key pain points in the car finance process:
- Pre-Approval: Customers can now avoid the frustration of rejected applications and the potential negative impact on their credit scores. Pre-approval ensures that applicants know if they’ll be accepted before they apply.
- Guaranteed APR: Gone are the days of misleading representative APRs. With TotallySure, the APR is guaranteed, providing borrowers with clarity and peace of mind.
- Guaranteed Loan Amount: Knowing the exact amount one can borrow is crucial when selecting a vehicle. TotallySure guarantees this, removing any uncertainty from the car-buying process.
- Guaranteed Term: Planning for long-term financial commitments is made easier with TotallySure’s guaranteed loan terms, allowing customers to confidently manage their future repayments.
Restoring Trust in Car Finance
This launch comes at a critical time as the industry recovers from a recent FCA probe that exposed significant overcharges due to discretionary commission arrangements. TotallySure seeks to rebuild trust by ensuring customers get exactly what they apply for, thereby driving better customer outcomes and fostering stronger relationships between lenders and borrowers.
Alastair Douglas, CEO of TotallyMoney, emphasized: “TotallySure gives car finance customers the confidence and control they need. We’ll also reward firms prioritizing customer outcomes by enhancing their rankings on our product tables, matching them with suitable borrowers, and reducing costs.”
Looking Ahead
TotallySure represents a significant leap forward in how UK customers access car finance, ensuring transparency, fairness, and trust. As TotallyMoney continues to innovate, TotallySure is set to become a benchmark for customer-centric financial solutions, empowering car buyers to navigate their finances with confidence and clarity.
With TotallySure, TotallyMoney is not just offering a product but paving the way for a more transparent and trustworthy car finance industry, driving better outcomes for both customers and lenders.
