3 ms·

Exploiting ignorance is legally fair game, that doesn't make it ethical. At this point dealers are basically just selling consumers to banks. I would blame the

Exploiting ignorance is legally fair game, that doesn't make it ethical. At this point dealers are basically just selling consumers to banks. I would blame the consumers if they could take their contracts home, consult with family, financial experts, etc. But, have you ever been in a sales room? Most people are pressured to sign ASAP and dealers generally refuse to print out contracts until after they're signed.

ownagefool 9y ago
Not in the UK. A contract has to both be fair and understood in order for it to be valid. The thing is, given all the finance agreements I've had in the UK tell me what the total cost will be ( generally over double the cost of the product ) I'm not really sure these products aren't to be reasonbly understood and it woukd seem like laziness or greed eould be the biggest driver. The exception to the rule here would be payday loans which have some horrible outcomes shouls you fail to pay them back on the agreed date. These were being legislated for the last I heard, so I'm not sure if they still exist. The other game in the UK is targeting the poor with silly rates of interest in the knowledge that many of them simply won't pay. Technically they're high risk loans and thus somewhat valid but there is an argument that the likes of brighthouse shouldn't exist and that people without jobs shouldn't really be given finance to buy a tv at over double the retail cost.
skookumchuck 9y ago
> But, have you ever been in a sales room? Yup. > Most people are pressured to sign ASAP and dealers generally refuse to print out contracts until after they're signed. I refuse to sign until I see a printed copy. Just remember that the dealers want that sale a lot more than you do. If they aren't being reasonable, get up and walk away. They'll change their tune very quickly.

3 ms·

Exploiting ignorance is legally fair game, that doesn't make it ethical. At this point dealers are basically just selling consumers to banks. I would blame the

by losteric 9y ago

ownagefool 9y ago
Not in the UK. A contract has to both be fair and understood in order for it to be valid. The thing is, given all the finance agreements I've had in the UK tell me what the total cost will be ( generally over double the cost of the product ) I'm not really sure these products aren't to be reasonbly understood and it woukd seem like laziness or greed eould be the biggest driver. The exception to the rule here would be payday loans which have some horrible outcomes shouls you fail to pay them back on the agreed date. These were being legislated for the last I heard, so I'm not sure if they still exist. The other game in the UK is targeting the poor with silly rates of interest in the knowledge that many of them simply won't pay. Technically they're high risk loans and thus somewhat valid but there is an argument that the likes of brighthouse shouldn't exist and that people without jobs shouldn't really be given finance to buy a tv at over double the retail cost.
skookumchuck 9y ago
> But, have you ever been in a sales room? Yup. > Most people are pressured to sign ASAP and dealers generally refuse to print out contracts until after they're signed. I refuse to sign until I see a printed copy. Just remember that the dealers want that sale a lot more than you do. If they aren't being reasonable, get up and walk away. They'll change their tune very quickly.