I’m worried about hidden fees and charges

Underlying Concerns:

• The prospect may have experienced or heard about hidden fees in previous loans, making them cautious about unexpected costs.
• They may worry that hidden charges will increase the total cost of the loan, making it unaffordable or difficult to manage.
• They likely value transparency and want assurance that they fully understand the terms and costs associated with the loan.
• The prospect needs reassurance that your loan product is upfront and clear about all fees, so there are no surprises down the road.

How to Tackle the Objection:

1. Acknowledge their concern about hidden fees: Show empathy and validate their worry, recognizing that hidden fees can be a problem in many loan products.
2. Emphasize transparency: Reassure them that your platform prioritizes clear, transparent pricing with no hidden fees, so they know exactly what they’re signing up for.
3. Offer to go over all costs upfront: Suggest reviewing any potential fees and charges together, explaining each one to ensure complete clarity.
4. Highlight customer support: Mention that you have a dedicated support team available to answer any questions about fees or payments at any time, reinforcing your commitment to transparency.

Sample Script (Detailed and Simple Language):

Prospect: "I’m worried about hidden fees and charges."

You: "I completely understand, [Prospect’s Name]. Hidden fees can make loans feel unpredictable, and it’s natural to want transparency."

• "One thing we pride ourselves on is our clear and upfront pricing. We make sure all fees are listed transparently, so you know exactly what you’ll be paying—no surprises down the line."

• "I’d be happy to walk you through all the potential costs associated with the loan, including any fees for things like processing or early repayment, so you have a complete picture. Would that help you feel more comfortable?"

Probing Questions to Engage the Prospect:

• "Are there specific fees you’re concerned about? We can go over those to make sure everything is clear."
• "Would it be helpful if I sent you a detailed breakdown of all the charges associated with this loan, so you can see exactly what’s included?"
• "Have you had experiences with hidden fees in the past? We can ensure full transparency here so you don’t encounter any unexpected costs."

Call to Action:

Offer to review a detailed breakdown of all costs associated with the loan, giving them peace of mind that there are no hidden fees.

Example:
"Let’s go over a complete breakdown of any fees and charges. I can walk you through each one so you’ll have total clarity on the costs. This way, you can move forward without worrying about hidden surprises. Would that be helpful?"

Key Points to Emphasize:

1. Transparency in Pricing: Reassure the prospect that your loan product has no hidden fees, and all costs are clearly outlined upfront for full transparency.

2. Detailed Breakdown of Costs: Offer to review each potential charge with them, so they feel informed and confident about the loan’s total cost.

3. No Surprises Policy: Emphasize that your company’s goal is to provide a no-surprises experience, so they never encounter unexpected fees.

4. Dedicated Support for Questions: Mention that your customer support team is available to clarify any questions they might have about fees or charges at any time, reinforcing a commitment to transparency.