Fair enough, they are upfront with the figures...

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Carrotchomper

MB Enthusiast
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May 19, 2006
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Location
Deepest darkest Zummerset
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C207 E350 CDI coupe
Here.

But over 400% APR? I would hate to be in a position where this was the best option.

Tempted to say "Barstewards" but it is, after all, business. :mad:
 
i have only one word for this type of business SCUM
 
:eek: Borrow £1,500.00, if you pay it off early (after only 1 month) you only have to payback £1,845.00!! Should be laws against that!
 
there is so many companies like that wee have one ni called provident and they are a bunch ................ i will let you fill in the blanks
 
Not trying to defend them, but the bit at the top regarding have you got CCJ's etc, they are taking on risk, and people with CCJ's and bad debt are usually unable to get credit anywhere else. They are scum, making money effectively from others misfortune.
 
I think what makes it worse is that they are secured loans too- Fail to meet the horrendous repayments and they have your car.

Not if all they have is the logbook; no ownership rights inferred by that alone - may be part of the agreement though.
In that case it becomes a secured loan @ 437% APR - the thing that amazes me is that it shows this in large font like it is a selling point. Maybe the people who apply just dont understand at all.
 
They operate on people's desperation and lack of knowledge and options.

Where's there's a demand, there's a supply.
 

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