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Topic starter
i saw this advert on T.V and thought they had mad a mistake but no it is right.
https://www.wonga.com/?A=177
Posted : 23/02/2011 9:08 pm
Yeah, because they're super short term loans.
They're 'payday loans' as such, to tie you over for a week or so.
Posted : 23/02/2011 9:08 pm
It's a short term loan isn't it? So the APR makes sense because you are a high risk if you need one, and you aren't going to take large amounts and pay them back over years.
And it's not new, the APR has always been the same (roughly) for this type of thing, only the companies are required to give the APR now.
Posted : 23/02/2011 9:10 pm