You have high interest on your loan

by Chris
(Tanzania)

How would you answer the sales objection:

On an unsecured loan, why is your interest very high compaired to a secured loan.

This is a sales objection that stops a lot of loans from being taken up.


Comment from Stephen Craine

The reasoning behind the interest rate being hire is fairly straight forward. The loan is not secured and therefore it will be harder to recoup the amount owed should the customer default on the payments.

But a good question for all sales people to send in a quick answer to is:

How would you phrase that to the potential customer?

No matter what line of sales you are in, think of this as a sales quiz, how would you present your answer if the customer raised that sales objection to you?

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