this post was submitted on 03 Sep 2023
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Mother and son fail in complaint about 23.95% interest rate (www.stuff.co.nz)
submitted 2 years ago by [email protected] to c/[email protected]
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Controversial take: If you are buying a car for $29 f-ing thousand dollars, with no downpayment, and accepting interest rates over 20%, and can and have afforded to pay $250 per week in repayments, you have no right to be complaining about the interest rate you agreed to.

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[–] [email protected] 3 points 2 years ago (1 children)

In NZ there's a car for every budget. You don't have to buy new if you can't afford it.

[–] [email protected] 4 points 2 years ago

Thirteen thousand dollars in interest, Holy Hell.

[–] [email protected] 2 points 2 years ago

You can argue it the other way though. This person is not making sound financial decisions, these loans are predatory and designed to take advantage of vulnerable people that don't understand what their signing up for. This is a failure of the government both to educate people in financial literacy, and to regulate this industry and it's predatory marketing.