It’s for an loan kinda place and the on-air chick says, “Yes, the money is expensive, but it’s a lot cheaper then a payday advance.” I find the statement, “Yes, the money is expensive,” to by hysterical. You mean buying money COSTS money? Who’d have guessed.
Then come the terms of the loan.
“The APR for a typical loan of $5,000 is 110.73%, with 84 monthly payments of $488.58.”
That means you pay $41,040.72 for $5,000. Holy ever loving mother of God. Are you shitting me???
I’m not sure how loan sharking became legal. I must have missed that on the news. They don’t mention knee-capping for lack of payment, but I guarantee if you don’t pay on time, some big ass mo fo shows up at your door with a pair of pliers and a blow torch. Either him or, as the picture shows, the Grim Reaper with his, “You are SO out of time,” speech.
Options you have instead of going to this place of insanity:
- Hooking on the street corner. You could earn at least $500 a day if you have ANY skill.
- Panhandling on the street corner if hooking scares you.
- Starting your own Pyramid scheme. As long as you are at the top, you earn money.
- Selling stuff you own. Not fun, but still better than being violated in unpleasant places.
- Having a bunch of lemonade stands in your front yard. Might not make you 5k, but it’s better than the alternatives.
Having no money sucks. I’ve been there and it seriously blows. But trading 41k for 5k just seems like bad business to me. And SHAME on WesternSky Financial (the money rapers) for being so greedy and taking advantage of people in need. Asshats.
Stepping down from soapbox now! 😉