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Byte

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Thread created on Sun May 12, 2013 14:03:03
Last replied to on Wed May 22, 2013 21:02:29
I'm gonna start doing some collateral loans up to $1,000,000,000.

Collateral will be quite big as I don't just want to be giving away loans equal the value of the item/property or players may use this as a way to 'sell their unwanted items/properties'.

I will be doing collateral loans with a multiplier of 1.5 so basically if you need a 1 mill loan - I will have to take an item worth 1.5m from you.

So that'll mean that you'll actually wanna pay me back rather than just run away lol :')


Just send me a PM with the amount of loan you need, when you intend to pay it back and what collateral you will be giving. (All done through trade)

Thanks


Feedback:

By Welbeck [555356]
Rated +
Offers quick and reliable service.



By FlashFusion [1705820]
Quick and reliable. Best I've seen in Torn! No interest at all! I gave him 5% myself!




Last Edited: Mon May 20, 2013 11:35:46
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Byte

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Posted on Sun May 12, 2013 15:16:19
Up

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nameuser1
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Posted on Sun May 12, 2013 15:51:37
are you going to be offering us collateral for the collateral?

if i take a 1 mill loan and give you a 1.5m item, will you give me a 500k item as collateral for the extra 500k?

cheers

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Byte

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Posted on Sun May 12, 2013 16:06:00
By nameuser1 [1732958]
are you going to be offering us collateral for the collateral?

if i take a 1 mill loan and give you a 1.5m item, will you give me a 500k item as collateral for the extra 500k?

cheers


Are you freaking kidding me?!

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Byte

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Posted on Sun May 19, 2013 11:24:39
bump

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Energy

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Posted on Sun May 19, 2013 22:42:37
By badmashh [1182070]
By nameuser1 [1732958]
are you going to be offering us collateral for the collateral?

if i take a 1 mill loan and give you a 1.5m item, will you give me a 500k item as collateral for the extra 500k?

cheers


Are you freaking kidding me?!


People could just sell their item/property and have more money than the loan

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Ash

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Posted on Sun May 19, 2013 23:27:41
For various reasons, collateral loans can pay off better than selling your item and rebuying

but asking for 1.5x is ridiculous!

Don't even want to know what your interest rates are!

1.2x is realistic for collateral loans, with a similar interest rate of around 2-5% depending on the amount borrowed and time taken to repay

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ShiningArmour
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Posted on Mon May 20, 2013 03:01:54
I have to agree with ash here. 50% is far to high. You may also have better luck if you have the Collateral depending on the loan? (same with the interest rate)

$100,000,000 requires +25% = 10%int
$250,000,000 requires +20% = 9%int
$500,000,000 requires +17.5%=5%int
$1,000,000,000 requires +15%=3%int






mzWNl.jpg
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welbeck
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Posted on Mon May 20, 2013 08:14:38
Rated +
Offers quick and reliable service.

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1714946
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Posted on Mon May 20, 2013 08:18:45
What is the interest rate?

And if you listen very hard, the tune will come to you at last. When all are one and one is all, to be a rock, and not to roooooooooooooooooooooooooooooooooooooooooooooooooooooooooooolllllllllllllll!!!
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welbeck
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Posted on Mon May 20, 2013 08:23:12
By GFX [1714946]
What is the interest rate?


0%!
he didn't ask for any interest rate. I took the loan for about 24 hours and gave around 2% interest MYSELF as he didn't ask for any.




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Byte

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Posted on Mon May 20, 2013 11:22:35
Yeah, I forgot to message that mates. No interest. Im just doing this to help people out, im well off myself :')

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FlashFusion
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Posted on Mon May 20, 2013 11:24:32
Quick and reliable. Best I've seen in Torn! No interest at all! I gave him 5% myself!


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Byte

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Posted on Mon May 20, 2013 11:30:27
By Ash [590563]
For various reasons, collateral loans can pay off better than selling your item and rebuying

but asking for 1.5x is ridiculous!

Don't even want to know what your interest rates are!

1.2x is realistic for collateral loans, with a similar interest rate of around 2-5% depending on the amount borrowed and time taken to repay


Don't take interest brother.

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Byte

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Posted on Mon May 20, 2013 11:30:59
By Paucar_Wami [1704404]
I have to agree with ash here. 50% is far to high. You may also have better luck if you have the Collateral depending on the loan? (same with the interest rate)

$100,000,000 requires +25% = 10%int
$250,000,000 requires +20% = 9%int
$500,000,000 requires +17.5%=5%int
$1,000,000,000 requires +15%=3%int






Don't take interest mate


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1714946
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Posted on Mon May 20, 2013 11:33:30
damn, I have nothing

but I guess I'm not exactly in a condition for a loan right now, I'm good for another year or so

And if you listen very hard, the tune will come to you at last. When all are one and one is all, to be a rock, and not to roooooooooooooooooooooooooooooooooooooooooooooooooooooooooooolllllllllllllll!!!
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Byte

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Posted on Mon May 20, 2013 11:41:58
By GFX [1714946]
damn, I have nothing

but I guess I'm not exactly in a condition for a loan right now, I'm good for another year or so


Please do not flood the page with useless comments.


No im kidding

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Byte

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Posted on Wed May 22, 2013 21:02:29
bumppp

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