/biz/ - Business & Finance

>>11640868
read this desu

>>11640868
Creditworthiness is correlated both with available credit and lower interest rates, for obvious reasons.

>>11640868
yep, was thinking about getting loan to buy gaming pc (all liquid cash went to crypto), after seeing rates and prices I think I don't need gaming pc in a while

>>11640868

wow really activated my almonds

>>11640961
Do you hold eth? You could get a makerdao loan

>>11640868
It's almost like someone wants to keep the poor poor.

>>11640868

>>11640868

>$0 payday loan, not a worthless ghetto dweller
>$5,000 credit card charge, 1.5% cash back, 0 interest because you pay it off ever month like normal white people do
>$26,000 car loan - 0% interest from manufacturer
>$200,000 mortgage - 4.5% on a fourplex you live in and make profit off of.
>(((central banking system))) centrally planned money is just as garbage as every other form of central planning.

>>11640961

If it doesnt make you money, dont get a loan for it. Violating this rule means you are either perma-poor or already filthly rich. Which are you?

>>11640868
I fail to see the issue :)

>>11640868
I dont get it someone explain with normie terms

>>11640868
Who is paying 14% on an auto loan?

>>11641544

>5k loan
>116% interest
>84 monthly payments of $486.58

What the fuck... that can't be real. For my 20k car loan at 1% I pay $350 a month. I get the math but who the fuck would be dumb enough to agree to this?

payday loans are like 30% not 400% lol what country do you live in that allows lenders to charge 400% interest?

>>11641601
personal finance most likely

>>11640961
why would you get a loan for anything? let alone a fucking gaming pc. i seriously cant tell if this isnt a troll because i wouldnt be surprised by the stupidity of some people

>>11641544
>borrow 5000 dollars
>pay back 40,000 dollars
And (((they))) wonder why anti semitism is a thing, when they're the kings of usury

>>11641160
>$200k mortgage

That gets you half of a one bedroom apartment in a shit area of Sydney. Thanks.

>>11641678
People with no other options

>>11640868
Poor people are more likely to default on loans. A higher default risk results in a higher default risk premium which results in a higher interest rate. Also, some people are retarded and don't even look at/think about the interest rate when they take out a loan. Some firms exploit this by having insane interest rates on loans with low/no approval requirements.

>>11641726
loans are situational
I've had to get a few in certain times because there was no other option. always paid back imminently to minimize interest repayments.

without credit we would still be living in mud huts
the entirety of modern civilization is built upon it. you live breath sweat and bleed to pay back debt that was racked up by the government before daddy nutted yourself into yo mommas cunt

>>11641880
Also, the costs of lending money (for the lender) don't scale linearly with the size of the loan. The costs of lending $500 to a bad customer can sometimes be higher than costs of lending $10k to a good customer. This increases the interest rate on bad loans too.

Its almost like percentages scale with the amount they relate to so the more thats loaned the less the percentage has to be. Idk man ill have to check back with you on that, i still havent finished 5th grade maths

>>11640868
>20,000 car loan - 14% interest rate

Yeah no, I dont think so TIM!

Anyone that has any business buying cars better be getting under 4% for used and under 3% new.

>>11641747
That’s native Americans backing that loan, son.

>>11642098
It wasn't enough that we let them run fucking CASINOS (read: free money factories) so they literally Jew harder than any Jews ever have.......

I dont feel bad about the rampant alcoholism.

>>11642098
This particular one yes I know but most usury is run by (((them)))

>>11641544
Talk about scalping, yikes

>>11640868
>high risk unsecured loans - high interest
>low risk secured loans - low interest

Truly baffling.

>>11640868
>what is collateral

Who is the roastie

>>11641160
>not getting 2.0 to 2.5% cashback
https://www.alliantcreditunion.org/bank//#filter=credit-cards

>>11640961
Lol

>>11640868
Oy vey!

>>11641067
or almost like people who are more trust worthy are able to get a lower interest than everyday people.

>>11641752

>Living in a overpriced pozzed city full of foreigners
>Not buying a dilapidated building and rehabing it yourself

This thread is about being not financially retarded friend.