I went to Milwaukee this past weekend for the yearly Rush TabCon

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I heard a radio commercial for an auto dealership that promised you a lower car payment than what you’re paying now, no matter what it might be. Let’s think about this. They want you to buy a new(or newer) car, even though you’re still paying on your old one. Which means they’ll have to roll the balance into the new purchase. And since they say your payment will be lower, the only way they can do that is to stretch out the repayment duration. So you’ll owe MORE money, for LONGER than you do now, and will probably still need another car by the time the term is up – rinse, repeat. Pure stupidity, IMO…
The second was a billboard for some company called Zingo Cash, or something like that. They claim that their loan is the solution to break the cycle payday loans. Say WHAT?? You’re going to borrow money from them so that you can pay off another loan. I was curious, so when I got back home I looked them up. The idea is that people with credit so bad they can only get payday loans can get a loan from Zingo, and pay it off over time as opposed to having to pay it back in 1 or 2 weeks. Nevermind that someone who needs a payday loan in the first place likely already has poor financial habits, not enough income, or BOTH. Which meas they’ll probably still have problems paying back THIS loan with its undoubtedly higher interest rate. And the poor keep getting poorer…sigh.