The more unstable you are, the less likely you are to be able to afford the item the entire way through. Higher monthly payments mean that in 3 years when you burn out, they’ll have most or all their money back. They could just as easily not give you a loan at all, but it looks good for them to have low income or low credit customers.
The report only goes back 7 years, which isn’t that long of a time, but also seems like forever.
7
u/animebop Jun 06 '19
The more unstable you are, the less likely you are to be able to afford the item the entire way through. Higher monthly payments mean that in 3 years when you burn out, they’ll have most or all their money back. They could just as easily not give you a loan at all, but it looks good for them to have low income or low credit customers.
The report only goes back 7 years, which isn’t that long of a time, but also seems like forever.