Recently, the Guangdong 315 Party exposed the scam of renting an aircraft loan, which disguises loans as mobile phone rentals and induces consumers to join the scam in the name of renting an aircraft to cash out, ultimately leaving the borrowers with high debts that far exceed their actual income. One victim rented 40 mobile phones and only cashed out more than 200,000 yuan. In the end, the debt snowballed to nearly 500,000 yuan, and he fell prey to loan sharks.
According to reports, intermediaries purchase the personal information of users who are in urgent need of money and use the bait of poor credit, lower interest rates than online loans, and quick cash out without collateral as bait for precise marketing. They even take the initiative to advance the first installment of rent to reduce users' vigilance and urge them to place orders and rent machines through relevant mini-programs as soon as possible.
Users thought it was a short-term turnover of renting mobile phones in exchange for cash, but what they actually signed was a sales contract hiding high debt terms.
For example, after renting a high-end mobile phone, the user can get the phone for only 6,000 yuan, but he has to bear 12,000 yuan in rent and buyout fees. The implicit interest rate far exceeds the legal limit, which is essentially a loan sharking style with beheading interest.
The intermediary completes the resale or secondary disposal of the mobile phone and makes money from it, while the borrower is bound to the debt of the leasing platform, and all subsequent repayment responsibilities are borne by the individual, and the intermediary is completely divorced from the relationship.
Once the borrower is unable to pay the "rent" on time, the platform will charge high overdue fees and late payment fees, and the debt will quickly double in a short period of time.
At the same time, violent collection methods such as phone bombardment, text message threats, and harassment of family and friends put borrowers in a physical and mental dilemma.
The chaos of rental loans is not an isolated case. There are more than 30,000 related complaints on the Black Cat Complaint Platform alone. Most of the victims are young people and low-income groups who are in urgent need of cash flow.
This type of scam cleverly circumvents supervision by disguising loan sharking as leasing services, and using rentals, buyout fees, etc. to cover up ultra-high interest rates, making it difficult for consumers to detect the fishery, and they don’t realize they have been deceived until their debts get out of hand.