I want to be a Loan Officer when I hear about this stuff...

So, I will leave all names out to protect the innocent and wildly and wierdly stupid....

We , when I say we, I mean, me and Kyle, know someone who wanted to buy a car. So they found a used car. The car originally cost $5,000. They sold some existing stuff, so they only had to borrow $3,000. That is all. But, due to some pre-existing circumstances of let's just say, less than perfect credit issues, they had to settle for a high interest rate. And I don't mean just high. I think the present going rate for used car loans is something like 6%. The Un-named got a loan for 35 %. Yes, 35%....HOLY CRAP. But that is not then end of it. Because of that, their payments are like 300 bucks a month....for I don't know how many years...they have had the car for about 2 and a half. or so. They still owe about 1800 bucks on the car and have had numerous opportunites to pay off the balance, between tax returns, etc. But haven't. We figured it out and they will have ended up paying around $14,000 bucks for this car. Wild and Wierd. Stupid.

It is at times like these that I would like to give out loans at 35%. I could do it...