Question: a. Is this a predatory payday loan? Why or why not?b. Do you borrow the money? Why or why not? While driving around with your

a. Is this a predatory payday loan? Why or why not?b. Do you borrow the money? Why or why not?

While driving around with your friend, you see the perfect new car! You stop at the lot, instantly love the car, and decide to buy it. You tell the salesperson that you do not want to pay more than $300 per month for the car. You also tell the salesperson that you are only 21 and you do not have good credit, The salesperson encourages you to talk with the car lot's financing department because they finance everyone. The finance person assures you that she can finance your new car for you. The finance person offers you a loan at 15% interest for 84 months with no down payment! Your monthly payment would be $300. The finance person rushes you through signing the sales agreement and does not cover the terms of the loan with you. The finance person also forgot to mention the final price of the car, or that the loan you are signing includes an extended warranty option on the vehicle. a. Is this a predatory car loan? Why or Why not? Use at least two complete sentences for each of your answers. Start Here

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