Re: Lazy borrowers
I don't think it's laziness so much...it's just plain ignorance about how loans and interest work. A lot of people don't even think about the interest being paid, they're just thinking about what they can afford to pay per month. They're usually thinking short term, not long term. If they can get that magic "monthly payment" number, then they're happy and they think they've gotten a good deal. As long as they don't feel strained by that monthly payment, then they're good to go. It never occurs to them that, in the long run, they've paid out way too much money, even though they had reasonable monthly payments.
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