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And you thought 22% was bad

There’s a commercial floating around the tv-tubes right now with Gary Coleman

hawking a cash advance type place called CashCall.

My favorite part is the disclaimer at the end. It says that a typical loan is offered at 99.65% interest. Wow. They even break it out for you (and it’s available here as well)

A $2600 loan will cost you $216.55 for 42 months. That means your payback is $9095.1 for a wonderful APR of 96.78%.

Sounds like a great deal to me!

This entry was posted on Thursday, June 7th, 2007 at 10:09 am and is filed under Random Thoughts. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “And you thought 22% was bad”

  1. TP Says:
    June 7th, 2007 at 11:32 am

    Whachu tarkin’ ’bout, willus? That’s a great deal. I’ve seen them as high as 350%apr.

  2. ss Says:
    June 7th, 2007 at 2:57 pm

    i thought you had to have excellent credit to get a loan in the thousands…wtf?

    you have to have excellent credit to qualify for the 59% loan…wtf?

    who falls for this shit? who thinks that paying $200 a month on $2600 for 3.5 years is better than not having the cash for whatever reason?

  3. bean Says:
    June 7th, 2007 at 4:34 pm

    Gary has not aged well.