Originally Posted By: eljefino
At what point did that woman on food stamps with no income think that buying her daughter a BMW was a swell idea?
Key words, my friend, key words. The article reads as if the lady went with her daughter, who is, in fact,the idiot, to cosign the loan. Her daughter is an idiot and she was duped.
11% on a loan with bad credit is not a bad deal. Having the ability to pay for and actually knowing ABOUT the loan are pretty important, though, and is more my concern. My family all drove beaters while I was growing up, $500 car after $500 car. No loan-shark loans and no living beyond your means. Was it an 80s thing or has preying on the poor become so easy?