TV advert offers 2356.00% APR !!!

NOWSE

Whilst watching TV the other day I thought that I'd seen an APR of 2356% shown on a loans company advert. It was in the small print at the bottom of the screen and so I assumed that I'd not noticed the full stop between the 3 and the 5, making it an acceptable (but only just) 23.56%

On checking I was able to confirm that Quick Quid are offering "payday" loans at 2356.00%. Their website confirms that the rate paid varies according to assessed risk. Ranging from excellent (819.125%), through good (1410.31%), to average (2222.46%).

jamespir

yes but you dont take the loan out for a whole year just a few weeks

butler1882

its daylight robbery preying on the vulnerable. i have only ever took 2 of these out and that was only when they were payin cashback via a cashback website which was quite a way over the interest that i was paying making me fifty quid

Apples2

Oh! for goodness sake, how many more times???

Try to see how it works before you post this kneejerk reaction!!!

eschaton

NOWSE wrote: »

Whilst watching TV the other day I thought that I'd seen an APR of 2356% shown on a loans company advert. It was in the small print at the bottom of the screen and so I assumed that I'd not noticed the full stop between the 3 and the 5, making it an acceptable (but only just) 23.56%

On checking I was able to confirm that Quick Quid are offering "payday" loans at 2356.00%. Their website confirms that the rate paid varies according to assessed risk. Ranging from excellent (819.125%), through good (1410.31%), to average (2222.46%).

And what ?

Old news......

preable

Just like brighthouse then xD

PNPSUKNET

vanquis, provident, bright house. No one forces but have seen this type of post a few times

_Andy_

Suppose we haven't had a XXXX% APR thread for a while.
Groundhog day..

halifax71

Have you ever borrowed £10 off your mate for a week and then bought him a beer as a thanks.

The £2 (ish) for the beer equates to over 1,000,000% APR

ajones28

I don't know about the legalities around this but if I was you I really wouldn't risk it. Also, if the paperwork does not match the bike, does this mean that the bike could be classed as stolen? I would avoid it like the plague and take your business elsewhere. :cool:

Apples2

ajones28 wrote: »

I don't know about the legalities around this but if I was you I really wouldn't risk it. Also, if the paperwork does not match the bike, does this mean that the bike could be classed as stolen? I would avoid it like the plague and take your business elsewhere. :cool:

Errrrr.. Okay jonesy! whatever you say