answersLogoWhite

0


Best Answer

No. For example: Take the payday loan places that are in almost every town, their interest rates are around 400% - if you sign the contract, you have no legal recourse. Homebuyers who get a 30 year mortgage at 6% interest rate pay about 3 times the value of the house when it is all finished. It is smarter to pay a 15 year loan at the same interest rate, the difference is about $200 more per payment (not bad!). It is common for banks to charge naive car buyers a high interest rate for 6 years, the smart people shop around and get rates as low as 5% and a 4 year loan. I would love to see some lawyer take on the system and set standards for interest rates which would put payday loan (sharks) out of business, but congress would never go for it.

User Avatar

Wiki User

โˆ™ 2006-02-27 02:22:57
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: Would an auto loan at 16 percent stretched over a 6-year period causing the price of the car to be doubled be considered extortion or grounds for legal recourse related to usery law?
Write your answer...
Submit
Related questions

What occurs when materials of the Earth's crust are stretched causing them to thin?

tension


What recourse do you have after running over a piece of guardrail and causing damage?

guard rails are there for a reason to prevent you from damageing something because you can't drive


Why do your knees crack?

Gases build up in joints and are released when the joint is used or stretched, causing the popping or cracking sound.


Why get objects stretched thin in a black hole?

Upon falling towards a black hole the "front" is pulled more than the "back" causing objects to stretch.


How does falling cause a labia minora tear?

The labia can either be stretched too far during a fall, causing a tear, or you might have accidentally hit it on something.


Is cfc harmful?

Yes, chlorofluorocarbons (CFCs) are considered carcinogenic (cancer-causing).


What does clipping mean in soccer terms?

When you trip them causing them to fall and is considered a foul


Is tuna bad for gout?

tuna is considered moderately bad in causing gout.


Can a gauged ear cartilage piercing shrink?

Yes, The skin will begin to cover the hole causing it to "shrink" usually you should have no problem reinserting the jewelry as its not cartlidge just skin which can be stretched


What are the disadvantages of mains electricity?

It costs money and its capacity for causing pollution must be considered.


What is considered a traffic offense?

Speeding and not wearing your seatbelt is considered a traffic offense. Also, driving drunk and causing an accident is a traffic offense.


Is financial crisis considered a crime?

If you had a part in causing the financial crisis you will likely be considered a criminal- especially if life saving were lost- whether intended by you or not!


Is maca a harmful drug?

No, it is mostly considered a food. The main health risk is causing goiters.


Which colorless and odorless gas produced by radioactive decay of Uranium is considered to be a cancer causing agent?

Radon


What part of a drum vibrates to make sound?

The drum head is struck causing a movement of air the shell amplifies the sound of the drum head developing into a sound wave, the vibrating sound is from the snare drum which has wires stretched across the lower head the sound wave makes the wires jump causing the crack or snap sound.


What is a tortuous aorta?

A tortuous aorta is a type of aorta that is considered abnormal. It is physically abnormal in structure causing an abnormal path or shape.


Which colorless and odorless gas produced by radioactive decay of uranium-238 is considered to be a cancer causing agent?

That'd be radon


Which colorless gas produced by the radioactive decay of uranium-238 is considered to be a cancer causing agent?

Radon can cause cancer.


Neuromuscular responses toward steady state exercise?

Muscles become more pliable, allowing an increase amount the muscle can be stretched without tearing or causing other damage. It also increases the rate and speed of transmission from the central nervous system.


Why do some muscles not work when your bones are broken?

The ligaments or tendons (Holds ur Muscles on 2 ur bones) might have torn or stretched out causing ur muscle 2 become loose rather than being drawn tight, as it normally is.


What is a nonliving particle that causes disease?

Viruses are considered to be non-living things, and are capable of causing disease. The reason viruses are not considered living is because they lack many of the characteristics of life until they infect a host cell.


Is a nonliving particles that causes disease?

Viruses are considered to be non-living things, and are capable of causing disease. The reason viruses are not considered living is because they lack many of the characteristics of life until they infect a host cell.


Is it safe to take ibuprofen when using nicoderm cq?

Nicoderm CQ is used in the cessation of smoking. Use of ibuprofen is not considered as causing a major interaction.


Is spitting in public eg on the ground illegal in UK?

Not specifically, but it could be considered causing a public nuisance. Many local authority by-laws forbid it.


How are humans important to the ecosystem?

When the damage to the ecosystem humans are causing is considered, the world's ecosystem would benefit greatly if humans didn't exist at all.