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Celebrity Ads
15.11.01
from the watchdog website
Celebrity Ads are the TV commercials presented by a famous,
trusted and well-loved face.
Harrison Ford, Claudia Schiffer and Anthony Hopkins have one thing
in common, they have all done adverts. With the help of some computer
graphics, Steve McQueen did not even need to be alive to endorse
the new Ford Puma.
It is reported that Jamie Oliver earnt over half a million pounds
to do the Sainsbury’s adverts; and the bigger the pay cheque,
the bigger the celebrity. But just because you recognise the face
in the advert does that mean you are getting good value for money?
Carol Vorderman of Channel Four's Countdown presents advert for
First Plus that offer secured loans at between 8.9 and 13.9%.
Colin Jackson, an independent financial adviser told Watchdog:
"(I'm) not very impressed with First Plus rates. Bearing
in mind this is secure lending in other words they are taking
your house as security...You can get a better rate from a bank
or building society…just because Carol Vorderman’s name
is on the brochure it doesn’t mean to say its a good deal".
" Colin Jackson finds celebrity endorsement of financial
products inappropriate. "
Carol Smillie advertises Axa Sun Life Bonus Cashbuilder Scheme;
a long-term savings plan. The advert tells you what you would
be able to buy with your savings. It fails to mention the high
commission charges or that if you surrender the policy in the
first three years you will not get any money back.
Colin Jackson finds celebrity endorsement of financial products
inappropriate. Savings plans and extended loans can go on for
many years. Consumers have to be sure it is the right plan for
them and should not be influenced by a someone on the telly who
you think you know and trust.
It is not just financial products that celebs are endorsing. Jim
Davidson advertises for Direct Car Finance, which sells cars to
people who would otherwise be turned down for loans because of
their past credit history. One viewer told Watchdog he signed
a deal with APR of 44.8%. This meant that he was paying £8500
for a car worth £4500. When this is combined with the insurance
at a rate of 41.6% the total cost would be over £12,000.
Will Hanrahan presented an advert for Claims Direct. He now regrets
having done the advert, as he told the programme:
"When you do an advert you do it with the best intentions
and you make your checks and the company probably makes its checks
but with the best will in the world no-one knows what is going
to happen. The company can’t and you can’t. So when
you are confronted with the situation where loads of people are
complaining you think Gosh I wish I hadn’t done that and
that is really the way I felt".