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>We can say "but they signed the terms!" I've always hated this "caveat emptor" mentality. It just assumes the seller can't be blamed out the gate, no matter h

>We can say "but they signed the terms!" I've always hated this "caveat emptor" mentality. It just assumes the seller can't be blamed out the gate, no matter how manipulative or opaque they may have been. See: the classic memes about fresh army recruits buying expensive cars/truck at 25% APR. There are car dealerships outside of bases that make it their sole mission to separate fresh 18 year old recruits from their money.

smabie 4y ago
The world is a hostile place and everyone wants to drink your milkshake (including me). Don't think there's anything that can or should be done about it. This is how it's always been and this how it will always be: it's fundamental to humanity.
- watwut 4y ago
  Practically, a lot of these can be dealt with regulation, warning people in advance about known frauds and so on. It is not true that all societies would be equally corrupt, fraudulent or dishonest. They differ due to laws differing, law enforcement differing and culture differing.
- Forgeties79 4y ago
  > The world is a hostile place and everyone wants to drink your milkshake (including me). This is a cynical take that frankly I find very grating and pointless. “Life’s hard nothing we can do about it.” Just hand waving it away and deciding there’s noting that can be done when there’s plenty we can do, as we have done since we first organized into groups. >Don't think there's anything that can or should be done about it. This is how it's always been and this how it will always be: it's fundamental to humanity. Consumer protection laws exist. Laws against murder, stealing, etc. exist. Would you agree we have fewer people taken advantage of and fewer people murdered and stolen from as as a result? As for saying we shouldn’t do anything…that I can’t make heads or tails of. You want the world to be cutthroat? By choice?
leetcrew 4y ago
they're already required to clearly display the total interest over the full loan term on the contract you sign. there's no hiding the fact that 25% APR with a 72 month term means paying ~100% of the principal again in interest. I honestly don't see how it could be made more clear that this is a terrible financial decision. it's like it just doesn't occur to people that they might have to pay for things other than a car note sometime in the next six years.
- deleted 4y ago
  [deleted]
- ashwagary 4y ago
  >there's no hiding the fact that 25% APR with a 72 month term means paying ~100% of the principal again in interest. I honestly don't see how it could be made more clear that this is a terrible financial decision. According to Michael Saylor, the value of the dollar halves every ~5 years. It's still not a great financial decision but if that capital is being utilized well, it may not be so terrible for people with no access to lower apr loans.
dahfizz 4y ago
You literally have to sign a paper which states the total cost of the loan to buy a car on credit. How could it be _less_ opaque?
- Forgeties79 4y ago
  Frankly I just think sleazy sales tactics/pressure are wrong. Contracts or not.

smabie 4y ago

The world is a hostile place and everyone wants to drink your milkshake (including me). Don't think there's anything that can or should be done about it. This is how it's always been and this how it will always be: it's fundamental to humanity.

watwut 4y ago
Practically, a lot of these can be dealt with regulation, warning people in advance about known frauds and so on. It is not true that all societies would be equally corrupt, fraudulent or dishonest. They differ due to laws differing, law enforcement differing and culture differing.
Forgeties79 4y ago
> The world is a hostile place and everyone wants to drink your milkshake (including me). This is a cynical take that frankly I find very grating and pointless. “Life’s hard nothing we can do about it.” Just hand waving it away and deciding there’s noting that can be done when there’s plenty we can do, as we have done since we first organized into groups. >Don't think there's anything that can or should be done about it. This is how it's always been and this how it will always be: it's fundamental to humanity. Consumer protection laws exist. Laws against murder, stealing, etc. exist. Would you agree we have fewer people taken advantage of and fewer people murdered and stolen from as as a result? As for saying we shouldn’t do anything…that I can’t make heads or tails of. You want the world to be cutthroat? By choice?

leetcrew 4y ago

they're already required to clearly display the total interest over the full loan term on the contract you sign. there's no hiding the fact that 25% APR with a 72 month term means paying ~100% of the principal again in interest. I honestly don't see how it could be made more clear that this is a terrible financial decision. it's like it just doesn't occur to people that they might have to pay for things other than a car note sometime in the next six years.

deleted 4y ago
[deleted]
ashwagary 4y ago
>there's no hiding the fact that 25% APR with a 72 month term means paying ~100% of the principal again in interest. I honestly don't see how it could be made more clear that this is a terrible financial decision. According to Michael Saylor, the value of the dollar halves every ~5 years. It's still not a great financial decision but if that capital is being utilized well, it may not be so terrible for people with no access to lower apr loans.

dahfizz 4y ago

You literally have to sign a paper which states the total cost of the loan to buy a car on credit. How could it be _less_ opaque?

Forgeties79 4y ago
Frankly I just think sleazy sales tactics/pressure are wrong. Contracts or not.