RE:RE:RE:Instalment loans extremerisk wrote: I am a buyer today at 52 week lows here. Only metric that matters is employment and we know that their is a scramble to hire lower priced help. That's where most goeasy customers work. Check out some of their past investor presentations on this. Average borrower owns no real estate and are in lower paid jobs. Credit challenges customers. Raymond James and others have this as too buy mostly because company generates so much cash and they can pretty well buy back most of float. Also insiders only significant chunk of shares
Good points on average person doesnt own real estate. Goeasy home provides 2nds at higher than industry pricing. If March 2020 didn't put a serious damper in the company's performance anything upcoming will be a blip. Goeasy might have high rates but is far from predatory. Payday loans for sure push it, 300 for 10 type promos are lower than the normal payday loan. Yearly APR on regular pay day loans without promo are over 100% APR. Fees stacking up could be a bigger impairment than the overall interest.
Credit cards are 20-30% people will start getting cut entirely out of credit.
Goeasy is pushing more asset backed lending such as auto, home. I can imagine average interest if closer to prime and secured is the direction towards 20% than to 10%.
Haven't seen buybacks in a couple weeks hopefully there is positive restriction preventing such.