The Return of Western Sky’s Criminally High APRs

// January 26th, 2012 // Weird or Interesting News

The Return of Western Sky’s Criminally High APRs: “

A couple days ago we posted a screenshot a user submitted of Western Sky’s insane APR for a $5000 loan. Well, apparently if you go to their site there’s a handy guide to their rates for other loans. Basically the less money you borrow, the more Draconian the APR.

For a simple $1000 loan you end up paying $5,256.56 (counting the loan fee), and that’s not even the worst way they extort you. If you look at the previous Western Sky post from two days ago, you can see that you pay 8 times the amount you borrow on a $5000 loan.

This is of course nothing new, but still it’s fun to do the math and realize the extent to which these loan agencies are bending people over. Unless you really need some money to feed your expensive crystal meth addiction, I recommend going elsewhere for your cash. –New Guy Nick