Right...In full rant mode once again, because I am just lost for words...
Firstly people preying on people who are struggling in life, financially I mean, I was still under the impression that loan sharks were illegal? You know what I mean, shady individuals who will lend you money on a short term loan with massive interest rates, so one borrow and they have got you.
So when did they legalise them?????
So many adverts on TV at the moment, companies like “Wonga”, “Quick Quid” all advertising that they would love to help if your pay cheque isn’t going to make the bills this month...But and here’s the big BUT..
2689% APR
No I didn’t forget the decimal point in that, 2689% APR!!! How is that legal to take advantage of people who are desperate, obviously moral doesn’t even come into the equation.
At that rate once you’ve borrowed, I’m pretty sure you would end up fished in by these unscrupulous individuals, taking advantage of them to the fullest of their abilities.
And here’s another one, I’m obviously in the wrong job, If I said to you I’m going to set up a business where I buy an item at RRP and then sell it to the public for almost 5 and ½ times its cost price!! You would think I was crazy, but it’s happening everyday!
The site I’m talking about it MADBID.
I saw an advert where a guy had won a brand new Ford Focus for 94% off retail price at just £800????? Got to be a catch I thought so looked into it.
Right they start an Auction for the car at 1p and the auction lasts for 1 minute, every time someone bids the clock starts again at 1 minute, and the bids go up at 1p at a time every time a bid is placed.
So how do you bid? Answer is you have to buy bids, and the more you buy the cheaper they get, but the lowdown is the average cost for bids is £1 each...then you have to pay the winning amount the item gets to.
So now think about it, the guy who won the Ford Focus had to pay £800 for the car, but how much have they got on top of that from bids?
To get from 1p to £800 in increments of 1p there would have to be 100 X 1p bids to get to every £1 therefore £800 would be 100x800 which comes to 80,000 bids.
80,000 bids at £1 per bid comes to £80,000 plus the £800 for winning the car equates to £80,800.
So they buy a new car from Ford for about £15,000 and sell it for £80,800 WOW I’m definitely in the wrong job.
So as the saying always goes, If something looks too good to be true..Then generally it is..!
Be careful out there guys, it’s a minfield.


