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The lender's risk is significantly reduced by having constant GPS access and the ability to disable the vehicle. I'm sure they've reduced the super high interes
by mmcconnell1618 6y ago
The lender's risk is significantly reduced by having constant GPS access and the ability to disable the vehicle. I'm sure they've reduced the super high interest rates they were charging these borrowers with subprime credit scores, correct? Nope. Same high interest rates.
- SilasX 6y agoIf someone else charged the same interest rates but didn’t have these provisions, they would go there. These loans are taken out by people that would have to pay still-higher rates.
- smabie 6y agoYou think the interest rate stays the same given the same borrower credit with and without these devices? I kind of doubt it.