Posh Pawn. Ch4 9pm.
Discussion
One thing I have not seen mentioned (although I may have missed it) is what APR he lends the money at? From what I could gather, the watch chap had borrowed £300 and had defaulted on the loan after 7 months when he owed over £700, so presumably the interest rate is around 200% pa.
He may charge a lower rate for a higher loan, e.g. against your Lambo, but I imagine he makes a lot more money that they let on by selling on people's pledges when they cannot afford to reclaim them. e.g. the guy with the Lambo supposedly got £90k, is there much chance that he will have £90k + interest to reclaim his car in 6 months? It was surprising there was no finance on the car which would further reduce the loan.
Re his customers, unless they are really good actors their emotions do seem genuine but it is a surprise that somebody who will spend £25,000 on a painting (when we get something from Ikea for £25 and think that's paying over the odds) has no idea of its value....
He may charge a lower rate for a higher loan, e.g. against your Lambo, but I imagine he makes a lot more money that they let on by selling on people's pledges when they cannot afford to reclaim them. e.g. the guy with the Lambo supposedly got £90k, is there much chance that he will have £90k + interest to reclaim his car in 6 months? It was surprising there was no finance on the car which would further reduce the loan.
Re his customers, unless they are really good actors their emotions do seem genuine but it is a surprise that somebody who will spend £25,000 on a painting (when we get something from Ikea for £25 and think that's paying over the odds) has no idea of its value....
g4ry13 said:
In the programme they said that 90% of the items are returned. So whatever they are charging people are generally able to pay it back.
I see on their website 'shop' that the handbags belonging to the rancid old dog with the attitude problem and the camel-toe idea, are for sale...DSLiverpool said:
kmpowell said:
I see on their website 'shop' that the handbags belonging to the rancid old dog with the attitude problem and the camel-toe idea, are for sale...
Link please 
Faust66 said:
srob said:
Laurel Green said:
In tonight's episode; a man hopes to raise money from a classic car collection to avoid losing his mansion. On in a mo.
Hmm. A new Mustang and a few year old DB7 so far...Vintage car collection? Yeah, right.
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