To clarify the supply and demand argument was merely describing their abundance in these communities not arguing against their predatory behaviour.
By insinuating they are predatory you imply they are taking advantage of the consumers. If that's the case why isn't another company charging a more reasonable amount thereby taking over the entire market and making money?
Furthermore what's the alternative to consumers not having these loans available? It could be that they lose their car, causing them to lose their job, then their home.
Edit: I often see claims they hide their interest rate, but why would they advertise a yearly rate when the loans are intended for durations of weeks? It's like complaining that petrol isn't priced by the kilogallon.
By insinuating they are predatory you imply they are taking advantage of the consumers. If that's the case why isn't another company charging a more reasonable amount thereby taking over the entire market and making money?
Furthermore what's the alternative to consumers not having these loans available? It could be that they lose their car, causing them to lose their job, then their home.
Edit: I often see claims they hide their interest rate, but why would they advertise a yearly rate when the loans are intended for durations of weeks? It's like complaining that petrol isn't priced by the kilogallon.