bigluresonly
Well-Known Member
Sounds like a heck of a deal! Get your 10K now, only 84 easy monthly payments of $743.99! What the heck :crazy:
People actually do this?
- Thread starter bigluresonly
- Start date
Big Ben
Well-Known Member
Must be somebody falling for it or they wouldn't still be running the TV spots. I thought a while back I seen the intrest rate was over 120% on one ad....
W.Seay
Well-Known Member
Only idiots!
in the dog house
Well-Known Member
W.Seay said:
So about 51% of America
dh1984
Well-Known Member
yeah i seen that the other day and said to my self they are a bunch of crooks. And people are really doing it and they loosing everything they own.
Yea people do that...generally under someone else's identification.
Man I worked (regretably) at a car dealership for about 6 months and you would be surprised what some people will pay and what interest rates they will accept. Some people would pay 3 times what the car was worth in the long run. Yes people will actually do those loans, Some out of desperation and some out of ignorance.
Outdoor life
Well-Known Member
That's sad!! $700+ a month to pay it back is just insane. I've only taken out single loan (so far) and that was while going to college in my senior year, and it had a low interest rate, so I only have to pay back $50 a month.
Hunter 257W
Well-Known Member
Wish I could loan out all of my money a couple of times at that rate.
Hunter 257W
Well-Known Member
Although this is a ridiculously high rate loan, most people can be scammed easily at a lesser level. Many people never even consider the total payback amount. The only thing they consider is how much is the monthly payment - never mind that it's for 10,000 years.
Bowdacious
Well-Known Member
They aren't the only ones. There are several companies doing this. I saw one with an 84% interest rate. It's crazy but people do it.
Hunter 257W said:Wish I could loan out all of my money a couple of times at that rate.
You DO loan out YOUR money at 0% interest rate every year.
The check you get back from Uncle Sam is YOUR money you GAVE him for a year FREE.
Hunter 257W said:Wish I could loan out all of my money a couple of times at that rate.
Back in the 70s when banks were charging 20-25% mortgage rates people mads a killing undercutting them by 5-10% with "owner finance" options.
Hunter 257W said:
You are right.
It's the very same people who ONLY see the net at the end of their pay check, they NEVER look at all the rest of it to see where it went. When they get home they blame the company they work for, for the "low" net pay and never think the govt took it.
Kirk
Well-Known Member
Most fortunes were made at the expense of stupid people.
