Don’t say you weren’t warned. As we sink more into debt, are more reliant on credit cards, operating loans and other services offered by Big Finance, we are going to have regrets the like of which might rival a marriage gone really, really bad. There will be a lot of name-calling and side-taking. It’s important that you think carefully before you borrow money from anyone.
Here’s the story of one unhappy couple who got stuck in a bad deal and ended up paying more than DOUBLE for a car, as financed by the Toronto Dominion Bank. Stop feeling warm and fuzzy about these financial institutions, people. They’ve made it abundantly clear through their ACTIONS that they don’t genuinely care about their customers. And actions speak louder than marketing words, right?
At the very least, we should be thinking for ourselves when it comes to our hard-earned money, not being influenced by the PR people who want us to feel that our money is in good hands with them. Do you really need the purchase? Do you really need to borrow? Do you absolutely have to borrow from a financial institution? Debt is a slippery slope, and all the flopping fishes falling into the pool of debt will have very little wiggle room.
The mainstream media likely won’t care, because banks and other financial institutions (insurance companies, stock brokers, etc.) are big advertisers, and they don’t want to annoy their advertisers by speaking against them. This story was shared by CBC, a news organization which is a little less tied into its advertising revenue than other network giants.