H4tch3tguy said:
Interesting.
Is it a case of "wanting" outweighing common sense with consumers?
I wonder if most people out there actually look a the impact of doing these things?
It's the same trend as a couple of years ago where home-loans would give you 110% bond to buy furniture on first time buyer deals.
Must be awesome paying furniture off over 20-30 years. (considering avg lifespan of home appliances, or technology trends)
Let's consider the majority of people out there signing on 72 months with 30% balloon and no deposit on vehicles?
Congrats, you're making excellent life choices. Winning at life friend!
To that end, I'm OK with the NCA being prescriptive over how deals should be structured; end of the day people will do what they want and how they want it in that moment.
Screw my future self!
The sad sad reality out there, is that people are really struggling, not just the poor, the middle class is also struggling to make ends meet, some have no choice to go into finance deals for vehicles or homes in order to help them and their familie survive now, rather than consider the consequences 5 or 10 years down the line.
Some are fortunate enough to have parents that financially support their kids even when they are married, a lot don't have that luxury.
I hear from were you are coming from, but the sad reality is that some have no choice and unless we walk a day in that person shoes or pay one of their bills, i wont judge