The Five Biggest Contradictions in Fitness
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The Five Biggest Contradictions in Fitness

It’s no secret that when people contradict themselves, it has the effect of making the flaws in their actions or statements seem glaringly obvious. But what about when WE ourselves get caught contradicting ourselves by someone else?

By: Nick Tumminello Added: January 6th, 2014
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View Poll Results: Is this a fair deal?

Voters
21. You may not vote on this poll
  • Fair enough I'd have done the same.

    1 4.76%
  • You crooked nose bastard, shame on you.

    20 95.24%
Multiple Choice Poll.
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Results 1 to 25 of 27
  1. #1
    Banned The_Brick's Avatar
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    Is this fair? Or am I an arsehole.

    I loaned my cousin $1000 to do work to his car. The car is in perfect working order so the work is purely optional. The deal is he pays me back $300 a week for 4 weeks to make a total repayment of $1200 which equates to a base interest rate of 20%.

    From my point of view, I wasn't going to pull money out of an account it's collecting good interest in without it being worth my while.

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  3. #2
    Senior Member Teufelhund's Avatar
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    I feel for ya' man, I wish I could make a quick couple hundred...

    But I would not **** one of my relatives to get it. 50 bucks tops sounds fair to me (if any at all), unless there are circumstances which would make it wise to discourage further borrowing. Like if he borrowed it to feed his crack habit or something.

    What account do you have money in that is going to return ANYTHING close to 20% over a month's time? I want in on that deal.

    I'm sorry, I have to vote for arsehole. Family is all you got, buddy, whether you realize it now or not.

  4. #3
    Still Plugging Away -TIM-'s Avatar
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    It's fair if you don't mind making a couple bucks off a family member. I personally wouldn't lend that much money to very many people. Then again I don't have it either . It seems he could get a better deal from a credit card company though. I don't know if charging that much is very nice. But if he's okay with it, then I guess it's no big deal.
    Best way to cheat on deadlifts...

    Stand there for a few minutes, then pace back and forth a lot, huff and puff, wait until everybody's looking. Approach the bar. Back off. Approach it again. Back off. Get some water. Chalk up. Approach the bar again. Then spray some more chalk around. Wait until people start losing interest. When nobody's looking, pick it a little off the floor, and slam it down. Jump up and yell "LIGHT WEIGHT BABY". Then give high fives all around. - Belial

  5. #4
    Senior Member smalls's Avatar
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    I think it's a personal situation, if he feels fine with it and you feel fine with it then your not an arsehole, IMO. Plus it's an optional deal, it's not like he's stranded or something, in which case I would feel differently. I think it's a little steep but that's just my opinion.
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  6. #5
    Super Mastah Mod rookiebldr's Avatar
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    Had to go for arsehole. It just looks like you're taking advantage of someone who doesn't know better.

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    ROFL, oh man - I usually wait until I'm on the freeway to do that. What an idiot! -teufy doing what he does best.

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  7. #6
    100% Natural harryhoudini66's Avatar
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    That is not 20% my friend. That is very very high on a very short-term loan. The rate you have given him is more in the high hundreds percentage. Rates are based on annual charges. Since you are making him pay it off in a month, the actual rate is super high. You are being an arsehole, but then again he is being stupid for asking for the money to make an unnecessary repairs.


    Oh, and I am a banker by the way and nobody pays you $200 per month in interest so you are not loseing that money. You may be lossing $1.50 and that is if you have it in a Certificate of Deposit.
    Last edited by harryhoudini66; 01-05-2004 at 10:58 PM.

  8. #7
    100% Natural harryhoudini66's Avatar
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    Quote Originally Posted by Tim Nissen
    It's fair if you don't mind making a couple bucks off a family member. I personally wouldn't lend that much money to very many people. Then again I don't have it either . It seems he could get a better deal from a credit card company though. I don't know if charging that much is very nice. But if he's okay with it, then I guess it's no big deal.

    He is screwing him way over. Even worse then:

    Loan Shark
    Bank
    Credit Union
    Credit Card Company
    Payday Loans
    Retail Credit Card Company

    He can apply for a loan with my credit union if he lives in Los Angeles County. He would be looking at payment of $92-$98 per month for about 12 months. Depending on his credit, the rate can be 10.90%-17.99% on a closed end Personal Loan. The total amount in interest paid for the year would range from $109 to $179. Some open-end loans like credit cards will even start you at rates as low as 6.99%.

  9. #8
    Senior Member HobbesAB's Avatar
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    If your cousin is an arse, then not really. He can go elsewhere or whatever. If he's a good guy and you're looking to cash in, then yes, you are - you don't do that to family members (nice ones anyway).

  10. #9
    is numero uno Saint Patrick's Avatar
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    If he's willing to agree with it, then I don't see the problem.
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  11. #10
    Jack's Utter Surprise Saturday Fever's Avatar
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    Dude. Charging interest is wrong. Charging interest to family is wholly ****ed.

  12. #11
    Bulking Sith Knight Stephen Riddington's Avatar
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    Quote Originally Posted by Saturday Fever
    Dude. Charging interest is wrong. Charging interest to family is wholly ****ed.
    :withstupi

    That's not cool, doing it to a family member. tuttut
    Last edited by CanadianHomer; 01-06-2004 at 12:09 AM.
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  13. #12
    Still Plugging Away -TIM-'s Avatar
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    The more I think about it you're not doing him a favor. You're running a business and your cousin is your only customer. You're making money off of your family.

    Putting the whole issue of interest aside I'm curious about how your cousin is actually going to pay you back. You said these repairs were optional at this point. Meaning he could go without them for now. If he was smart he would put aside the money he would be paying you each week and then just buy the stuff at the end of the month and save himself $200. To me this is a no-brainer. I'm guessing he knows he can't come up with $300 each week or the $250 it would actually cost him by saving it himself. So he figures he can get the money now, do the repairs and string you along for a few months and get his toys a little quicker. I would be willing to bet that you wouldn't see that money within a months time. Just a gut feeling.
    Best way to cheat on deadlifts...

    Stand there for a few minutes, then pace back and forth a lot, huff and puff, wait until everybody's looking. Approach the bar. Back off. Approach it again. Back off. Get some water. Chalk up. Approach the bar again. Then spray some more chalk around. Wait until people start losing interest. When nobody's looking, pick it a little off the floor, and slam it down. Jump up and yell "LIGHT WEIGHT BABY". Then give high fives all around. - Belial

  14. #13
    Senior Member AstronautJones's Avatar
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    I would also like to say it is wholly ****ed.

  15. #14
    Soon to be lean... Joe Black's Avatar
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    I wouldn't charge interest to a family member.
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  16. #15
    Senior Member Trent_Steel's Avatar
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    I would give the $200 back. You have charged him an annual interest of $2400 on a $1000 doller loan. Thats 240%.

  17. #16
    Banned The_Brick's Avatar
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    Ok. I see some ppl think he's not going to pay. You may be right. If he doesn't pay do you guys think I should reposess his car?

  18. #17
    Equal Opportunity Offender Budiak's Avatar
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    I wouldnt charge interest to a family member.

    Plus if he can raise 1200 extra bucks in four weeks, why doesnt he just wait a month to do this on his own dime?

  19. #18
    Soon to be lean... Joe Black's Avatar
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    If you think its a possibility he might not pay, dont lend him the money.

    To be honest, seeing as the work is not neccessary it might not be worth the bother at all.
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  20. #19
    Banned briancurran01's Avatar
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    arsehole.

    Like someone said above family is all you got you dont jack your family like this to make money.

  21. #20
    Banned briancurran01's Avatar
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    repossess his car??

    damn bro you are harsh. GLad you arent my brother

  22. #21
    Ash "Money" Hegde Y2A's Avatar
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    Quote Originally Posted by Trent_Steel
    I would give the $200 back. You have charged him an annual interest of $2400 on a $1000 doller loan. Thats 240%.
    :withstupi

    Its not 20% man, its 240%
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  23. #22
    Party of "No." Tryska's Avatar
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    a. i wouldn't loan money to family (they really are the last people you want to loan money to) just so they can get some new optional crap for their car. a crisis, yes, with no interest, but hell this is not a life or death situation - if he's that geeked on hooking up his car, then hell yes, charge him interest.


    also get it in writing and make a date to visit judge judy tho - cuz i'm guessing you aren't gonna get it back in installments.
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  24. #23
    100% Natural harryhoudini66's Avatar
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    You cannot repossess his car. The only way you could is if you signed a contract. And in doing so, you would have to indicate the amount of interest you are charging him. Since the amount is super high, your case would not stand up in court. Some states have a maximum amount that you can charge in interest.

    Also, for it to even kind of workout he would need to own the car outright. If it is being financed then you are shiet out of luck. Well, not that you had a chance anyways based on what I stated above.

  25. #24
    SFW! drew's Avatar
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    AAAASSSSSHOOOOLE

    Sorry dude. Unless he's stiffed you for money in the past, that's wrong.

    Let's say you've got that 1000 in a savings account making (and this is HIGH) 1.5% interest. That equates to $1.25 per month. If you want to make up your loss, charge him an extra buck and a quarter.

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  26. #25
    Senior Member geoffgarcia's Avatar
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    ditto whats been said.
    my eyes were rolling when I read the part about repossessing his car.

    if I ever needed money and went to a relative and was offered a deal like that it would be the last time I ever spoke with that person.
    Last edited by geoffgarcia; 01-06-2004 at 10:27 AM.

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