Look, it has to be acknowledged that most people have a desire for material things that they believe will help to make their lives better by purchasing, for instance, a cellphone and its corresponding plan, or furniture, or a vehicle. No doubt, things of that sort have a true value, especially when it comes to a vehicle which, because so many communities have public transportation which is barely adequate, permits the vehicle owner to get to their place of employment, as well as to perform necessary tasks, and to just in general to have freedom of movement.
The problem when it comes to purchasing items in which the person so desiring to make that purchase has poor or bad credit is that their avenues to make that purchase are limited, thereby meaning that they will often have to take up offers that express that “everybody qualifies”, or “nobody is turned away,” and others of that same general ilk. The lure given to these consumers is the lure of credit provided to them, which will permit them to purchase something that they desire, though not everything so desired through this easy credit is necessarily a needful thing.
When it comes to so-called “easy credit” it has to be recognized that such credit comes with a cost to the consumer of such, of which that cost is typically that the consumer will pay a sky-high interest rate with significant penalties for a late or short payment, along with the fact for more expensive items such as an automobile, that delinquency means that the loaner of that particular good may well have the legal right to recover that automobile, which will mean for the consumer even more fees and penalties in order to recover the car, if that is even possible.
So too, when it comes to easy credit, the loaner wants the consumer of such to focus upon the monthly or bi-weekly or even weekly payment amount and to not be concerned about penalties, recovery fees, repossession, or the length of time of the credit contract, and because so many consumers of easy credit don’t readily understand what they are signing up for, or possibly don’t even consider it because all they care about is purchasing the product that they want, this means that they are going to far too often make a “deal” which is quite favorable to the loaner and not favorable to them.
No doubt, it’s human nature to want and to have desires, and because we live in a material world in which it’s pretty much a requirement to have certain things in our possession or to have access to them, or else we won’t feel good about ourselves and our place in life, that the upshot is that for far too many people, they go into a store with the basic idea that no matter how much that a given item costs they just have to have it, making it all the easier for those that offer easy credit to take wholesale advantage of their ignorance and lack of preparedness, with the penalty being wholly paid by the consumer to their probable lasting regret.