Loans – too easy the approvals?

I only have one qualm about loans – i think that they are approved quite easily. Just take my recent car loan – i guessed it’s approved too easily without much reference done to see if I can actually afford the loan or not.

Maybe it’s the bank loan agent that’s eager to close my sales. I don’t know – but i certainly felt that the application was approved way too easily. I haven’t taken any personal loans – unless if you consider credit cards to be part of the loan But seriously, from what I heard from my friends who applied for personal loans, they seem to be echoing the same thing that I said – the loan was approved too easily, that sometimes it seems like they are desperate in chasing sales.

Probably the only consolation that we get is the fact that secured loans seems to have a little more steps in verifying if you are able to pay up. I guessed by getting collaterals in exchange for the loan, it’s just fair that the banks do some background checks before actually releasing the loan. Not that I’m complaining though…..

*this is a sponsored post*