Warning: Some posts on this platform may contain adult material intended for mature audiences only. Viewer discretion is advised. By clicking ‘Continue’, you confirm that you are 18 years or older and consent to viewing explicit content.
Certainly car loans can be predatory, and it is worth improving oversight, limiting what loan providers are allowed to offer. While I’ve seen plenty of people in trouble with car loans, it was always predictable/likely and my first thought had been how could a loan provider have approved that. I’m sorry if people are desperate for transportation and short of options but it’s not helpful to offer rates like credit cards, nor roll over previous loans, nor offer loans at high percentages of people’s incomes
Certainly car loans can be predatory, and it is worth improving oversight, limiting what loan providers are allowed to offer. While I’ve seen plenty of people in trouble with car loans, it was always predictable/likely and my first thought had been how could a loan provider have approved that. I’m sorry if people are desperate for transportation and short of options but it’s not helpful to offer rates like credit cards, nor roll over previous loans, nor offer loans at high percentages of people’s incomes