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Loans for strange purposes

Loans for Strange Purposes

Taking out loans has become so common in the US these days. People want to enjoy all that modern life has to offer and are prepared to take on various loans to finance their lifestyle. The boom currently being experienced by the consumer credit industry is proof of this. Most people borrow money for standard reasons such as to purchase a house or car, set up a business, go to university, or carry out essential home improvements. However, there is a small but increasing number of people who will seek loans for strange purposes.

A recent study into the purposes of personal loans revealed some astonishing results. Here are some extraordinary examples of the types of things for which people are willing to take out loans.

Plastic Surgery

In a recent poll, more than 50% of the people surveyed believed that plastic surgery would make them happier. Interestingly, out of this percentage of people, there is a small number that would be prepared to borrow money in order to have cosmetic surgery. As plastic surgery can cost thousands of pounds, there are many people who may desire it, but may not be able to afford it. These are the people who would apply for personal loans and get into debt for the sake of improving their physical appearance.

As plastic surgery costs continue to rise, more and more people will get into debt because of it. It has become such a popular reason that loan providers such as banks and building societies have started to include it as one of the main reasons to tick on their loan application forms, alongside car loans and other more traditional types of loans. Loans for plastic surgery, although strange to most, is rising above the ranks of loans for strange purposes.

Buying Exotic Pets

Another area of loans for strange purposes increasing in popularity is the applying for loans to buy expensive exotic pets. People have asked for loans to spend on buying highly unusual pets such as camels, reptiles, monkeys, and black stallions. These types of pets can cost as much as $10,000 to $15,000.

Other Loans for Strange Purposes

Amongst the many loan applications received by a particular lender, one stood out as especially eccentric—a property developer who applied for a loan in order to convert a cave into a fully-functioning modern home!

There is also the loans for strange purposes case of a medieval knight enthusiast who applied for a loan in order to fulfil his deepest wish to buy and own a suit of armour for $5,000.

The Final Word

An increasing number of diverse loans are being created and offered to all sorts of people these days. It has also become easier for borrowers to get approval for loans for all kinds of reasons.

In the past, you had to provide solid proof that you could afford the repayments on any loans you were given. Nowadays, there are all manner of bad credit loans and loans to finance more frivolous needs such as lavish weddings and dream holidays. It is no wonder that borrowers are becoming more brave and asking for loans for strange purposes. It will be interesting to see how many more loans for strange purposes can be invented in the future.

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