Cross posted from Discuit

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15 points

Bet he also had a $100k truck parked in front of that home. Bought with a loan with 12% interest

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1 point

12% is pretty insane for an asset that depreciates as fast as a vehicle does.

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2 points

My first car had a 23% interest rate on the loan. I had no credit history and was relying on people I thought knew enough about car buying with me to help me know if I was getting shafted. That dealership has remained on my do not buy list ever since, even after changing ownership due to the previous owners practices of fraud

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2 points

It’s such a sham that the “truth in lending” laws still didn’t go far enough to simplify the Financials of loan interest.

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1 point

Because cars are status symbols and people are fucking stupid. So of course capitalists exploit these dumdums. There are even companies where you can rent-to-own tire rims. And of course those companies make hundreds of millions a year.

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Leopards Ate My Face

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