Am I being advised in this bank meeting, or just sold to?
In a bank meeting the key question isn't whether someone is friendly, it's whether they state the costs in full. Sales moves show up as omission (the effective interest rate or a payment-protection policy kept vague), as "most of my clients take this," and as lines that offer experience instead of numbers. Advice answers your question; selling redirects it to the rate that suits you.
An advisor can be both at once: genuinely helpful and on commission. One doesn't rule out the other, which is why it helps to know the lines where the selling begins.
How to spot it
- When you hear: “Most of my clients take the payment-protection policy right away.” Social proof
- When you hear: “With a contract like this it basically always works the same way.” Hedging
- When you hear: “Trust me, I've been doing this for twenty years.” Appeal to authority
- When you hear: “I can't really give you the exact effective interest rate, it's complicated.” Omission
What it sounds like
How Hearium reports it
Omission
Them It's complicated, but it's low. What matters is the rate, and it suits you.
Omission exploits the fact that you don't know what you don't know. What is never mentioned can't be questioned, and that makes it harder to catch than an open lie.
The moves in this conversation
Common questions
Do I have to take a payment-protection policy?
No. It's optional and can't be a condition for the loan. It's often expensive and can be bought separately for less, or skipped. Have the cost shown separately and don't decide it in the same breath as the loan itself.
What has to be transparent in a loan contract?
The nominal and the effective annual interest rate, the total amount over the term, the installment size, and all extra costs, including any insurance itemized separately. If one of those numbers stays vague, that's not a detail, it's the spot to press on.