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The Wonga Empire is looking to expand its reach across the oceans.  Saw a Wonga commercial on Canadian telly the other day.  A couple of muppet grans gossiping with each other, then a muppet grandad shuffles past and they start clucking like hens.  Baffling.

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  • 2 weeks later...

That instant loan taken for example is pretty good, you are paying less than £7 more for that loan. I wonder if that is an actual rate they offer though, if it is then it's only 7% and nowhere near the rates they offer on their websites.

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That instant loan taken for example is pretty good, you are paying less than £7 more for that loan. I wonder if that is an actual rate they offer though, if it is then it's only 7% and nowhere near the rates they offer on their websites.

 

It's not 7% though, because you are paying that over 3 monthly instalments. The effective annual rate would be (by my calculations, anyway) more like 55%.

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That instant loan taken for example is pretty good, you are paying less than £7 more for that loan. I wonder if that is an actual rate they offer though, if it is then it's only 7% and nowhere near the rates they offer on their websites.

 

It's not 7% though, because you are paying that over 3 monthly instalments. The effective annual rate would be (by my calculations, anyway) more like 55%.

 

Doesn't say that at all though. Says £7 upfront then 3 x £33.33 payments equaling £107 for a 3 month loan for £100 of goods.

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That instant loan taken for example is pretty good, you are paying less than £7 more for that loan. I wonder if that is an actual rate they offer though, if it is then it's only 7% and nowhere near the rates they offer on their websites.

 

It's not 7% though, because you are paying that over 3 monthly instalments. The effective annual rate would be (by my calculations, anyway) more like 55%.

 

Doesn't say that at all though. Says £7 upfront then 3 x £33.33 payments equaling £107 for a 3 month loan for £100 of goods.

 

If it is as straight forward as that then it isn't so bad. But there is probably something in there where for a £100 product you pay £7 up front and 3 monthly payments of £80.

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Whatever happened to just waiting until you have more money than the thing you want to buy?

 

The stuff on that site doesn't really look like something you'd need urgenty (or things you couldn't get a more basic but functional version of cheaper), but I'm sure there are things people would be better off getting sooner.  If you need a washing machine and every week until you get one you've got to pay for a laundrette or take time off from driving a taxi or whatever to do it by hand, or if you need a bed for a kid and they're wheezing from sleeping on the floor then you might look at it and think it's worth the interest in the long run.

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Guest neesy111

Whatever happened to just waiting until you have more money than the thing you want to buy?

 

New Labour encouraged a credit binge on which credit card debt I think quadrupled between 1997-2007.

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Whatever happened to just waiting until you have more money than the thing you want to buy?

 

I think it's a combination of people having less patience and getting loans/credit cards is way too easy. People just don't wait to buy when they can have it at once, even if they have no money. It's a sad state of affairs.

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  • 4 weeks later...

So, is the stadium renamed for 4 years, or have they bought and assigned the rights now permanently?  ???

 

I'm guessing it's the former  :undecided: :hmm:

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