I believe it was an easy way to get a loan however, they are certainly robbing you when it comes back to repaying it over several years . You eand up paying back more than three times the amount you loan. If I were in the position to loan people money and secure it through the vehicle they own, I would only want about 20% per year. Ie: £2000 over 24 months would be £400 for year 1 and £200 for year 2. So, basically you tell the customer up front that they are not being robbed and the should be able to afford the loan repayments of £108.34 a month.
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