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/biz/ - Business & Finance

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15577375 No.15577375 [Reply] [Original]

Bank refused to give me loan so i financed 50x iphones from different stores and selling them at Ebay. I pay 1200$ per month to finance them all. No interest. this shit is better than bank loan, i can get about 50k from them all but it takes some time, already sold three of them.

am i smart or just stupid? 1200 per month for three years isn't that bad.

>> No.15577390

>>15577375
That car is probably already sold and repainted lmao

>> No.15577402

>>15577375
Hmmmmm. No credit check?
Also what are you doing with the money because 1200 a month could be a mortgage.

>> No.15577411

>>15577402
Also. were you really able to sell the iPhones at cost without paying for delivery?

>> No.15577419

>>15577375
that's an annual interest rate of 24% which isn't exactly good. What's the money for?

>> No.15577423
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15577423

>>15577402
yes they check my credit but bank didnt accept any loan because they have strict rules and i am neet.

but local electronic stores arent so strict so i just went and maxed finances from all the stores.

i need the money to invest in cryptos/stocks.

>> No.15577431

>>15577411
i have to sell them at loss, but not big loss, maybe 100$ less of market prices

>>15577419
yeah it isn't actually good but theres worse interest rates in some payday loans etc.. i use the money to buy crypto

>> No.15577553
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15577553

>>15577423
>use the money to short phone financing companies
>default on the loans

>> No.15577579

>>15577431
>maybe 100$ less
x 50 ? Funking genius. You literally couldn't come up with a more retarded plan if you tried

>> No.15577594

u might do jail Time if u dont Wanna suck the fag judge

>> No.15577623

>>15577423
>i need the money to invest in cryptos/stocks.
You are playing a risky game. At least read up on Bitcoin SV

>> No.15577637

>>15577623
>least read up on bsv
shouldn't that be, read down ?
it doesn't go up

>> No.15577729

If you did insurance can you buy broken ones and try claiming it got damaged? Just fuck it up beyond recognition. Get another 50x phones rinse and repeat. Self-made multi-millionaire.