Quote:
Originally Posted by JFK
25% my ASS I think the legal lending limit in Canada is like 60% per annum(not sure about US) after that its usery. Dont think most people operating business like that wont take advantage. If you lend money on a piece of jewellery, you cant really loan any more than about 10% of retail value, because if you get stuck with it, you are fucked.
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(I don't really know for sure) I don't think that they make the majority of their money from interest. I would bet it is from the items they aquire, by loaning people $500 for a $3000 watch, the person can't repay the loan, loses the watch. They sell it for $2000 and make an easy $1500 on the deal.