Most Garbage Shirt Sponsers?

[DaveBambersPostman]

I thought we had the most distasteful advert of any club pinned accross our shirts... but it seems Blackpool are attempting to out-do us with 'Wonga'!

The company that will lend money to anyone, even Glasgow Rangers or Portsmouth. But at interest rates of 1000000000%!

Now what other club in the Championship, or any other leage for that matter can beat that?

 

[Kempton]

Er,we can ?

 

[TONY_WARNERS_FACE.]

Don't see the problem with Wonga tbh. You borrow about £100 and pay them around a tenner for it. What's wrong with that?

It's thick people seeing the APR and getting confused that's the problem.

 

[originallambrettaman]

FC Nurnberg have a good sponsor...

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[Mikez]

I can't think of another occasion where you can get two sponsors so ***** at the same time as yesterday. What are they saying here, pay wonga back with the stuff you sold to CC LOL.

 

[originallambrettaman]

Club America(Mexico)...

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[Cillit Bang]

You start off as a

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But then you meet a

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And she gives you a

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So you get into a

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HOLY COW! SHE'S A

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[Cillit Bang]

And now you're really in the

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[RicardoHCAFC]

I thought we had the most distasteful advert of any club pinned accross our shirts... but it seems Blackpool are attempting to out-do us with 'Wonga'!

The company that will lend money to anyone, even Glasgow Rangers or Portsmouth. But at interest rates of 1000000000%!

Now what other club in the Championship, or any other leage for that matter can beat that?

On the side of trading in stolen goods our sponsor also does payday loans.

I agree with TWF though, highlighting the interest rates and claiming they're extortionate is as misleading as the marketing used to advertise them as helping people. The products are perfectly justifiable, the advertising aimed at vulnerable people without providing appropriate financial advice alongside it isn't.

To put the rates into context, if you borrowed £50 off a mate would you think it was unreasonable when you gave him it back the next week to buy him a pint?

Call it £3 a pint? That's over 2,000% APR

 

[Notts Trent Tiger]

Didn't Brighton used to be sponsored by Fat Boy Slim's company Skint? That would be brilliant against us or Blackpool if they still had that

 

[GLP]

I liked Donny's old sponsor 'East Riding Sacks'.

 

[Ajbtiger]

Too be fair wongas actually very good, its made clear to you the amount you have to pay back and you can adjust the payback date and will pay less the quicker you pay it back. Ive used it a couple of times, try not to but if I borrow £40 and pay back £46 to avoid a bank charge for instance then thats pretty good in my mind

 

[beverleytiger]

****ing brilliant Doggybrown

 

[El-Barninho]

On the side of trading in stolen goods our sponsor also does payday loans.

I agree with TWF though, highlighting the interest rates and claiming they're extortionate is as misleading as the marketing used to advertise them as helping people. The products are perfectly justifiable, the advertising aimed at vulnerable people without providing appropriate financial advice alongside it isn't.

To put the rates into context, if you borrowed £50 off a mate would you think it was unreasonable when you gave him it back the next week to buy him a pint?

Call it £3 a pint? That's over 2,000% APR

No it isn't, its nearer 200%

Ajbtiger is paying nearly 900% though.

 

[lmc_tiger]

Club America(Mexico)...

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Yep, Bimbo is too sweet to be called bread

 

[andy payton's mullet]

I know my maths is ****e, but isn't 2000% about £2.50?

 

[RicardoHCAFC]

No it isn't, its nearer 200%

Erm no.

Without compounding £3 for one week is £156 in interest over a year. Off £50 borrowed that would be would be over 300% interest.

As for the APR they have to use compound interest based on the charges in the period covered the rate is significantly higher. In fact I worked it out, £3 on £50 is 6% a week. Do it through 52 times and you owe £1,034. That's over 20 times the original. The original is 100% therefore you owe more than 20x100%, which is over 2,000% of the original. I was wrong about it being over 2,000% APR though, you need to deduct the original amount which would mean the interest was £984, which is actually 1,968% APR.

EDIT: Of course don't take my word for it. The first of these links starts off in a very familiar way doesn't it, it's almost like I got the idea from somewhere and just calculated my own figures because I coulldn't remember the values he'd used:

http://blog.moneysavingexpert.com/2010/11/05/mp-says-dont-cap-interest-rates-cap-loan-costs/

http://blog.moneysavingexpert.com/2...y-more-about-10-interest-than-2000-apr-loans/

and just to give the example that ajbtiger was using as a sensible way of using them:

http://blog.moneysavingexpert.com/2...-that-makes-5000-apr-payday-loans-look-cheap/