Sure, that's a pretty high interest rate. If you have the liquidity, you definitely should pay upfront. But it's conceivable that for some (small) segment of th

Sure, that's a pretty high interest rate. If you have the liquidity, you definitely should pay upfront. But it's conceivable that for some (small) segment of the population, that loan is worth it. Payday loans are a similar situation, it seems exploitative to many/most people. But those people who think it's exploitative are the ones who don't need the service in the first place. If you can avoid it, you should never ever get a payday loan. But if it's between a payday loan and missing a rent payment and living on the street, it's a pretty attractive and rational proposition. Would it be better that a certain segment of the population not have any access to credit? Or is it better that they have access to expensive credit? Moreover, if they want some (expensive) credit, it's pretty paternal and condescending (and sometimes racist) to say that they aren't rational enough actors to deserve it.