bank loans and mortgages?

[Mudiwa 784]

I came up with these ideas while applying to civ council runs and wondered what everyone else thought of them. It could benefit new and old players while positively stimulating the economy. A new credit system would allow you to take out a certain amount of money and pay a specific interest rate depending on how long you plan to pay it off. Mortgages could allow you to buy a house with some or no money down with interest rates depending on how long you will pay off the house and your bank credit. The system will be intricate yet easy to understand and balanced, so money isn't just being printed. It is risky, as it should be so keep that in mind.

Example for a loan (casino/gambling disabled after taking out a loan, one loan at a time):

Rook banger Timmy wants to buy a truck to run some peaches but got his kidney stolen by @ Caden  and his shoes jacked by @ Xlax . So he goes to the bank in neo and takes out a 100k loan with a 20% interest rate because that's the only amount he can get with his new line of credit.

If he pays it back within 24 hours with the 20% interest, his credit goes higher for the following loan he takes out (72 hours cooldown); the same if he pays it back after 72 hours, yet at a higher interest rate of 30% and fewer points being added. So ultimately, Timmy is happy he got some capital to get his peaches, and he improved his credit score to get bigger loans in the future if he wants.....

But if Timmy gets rolled on by Cob with that juicy new box truck of his and can't pay it back after a week. The bank takes half his money (whatever that amount may be), and he needs to pay the amount back in full by next week, or his credit score keeps going down (-10 points each day late after a week). He has two weeks to pay back the loan and must declare bankruptcy. A player can only take loans out again once that loan is paid off 5x the amount. People's bank accounts wouldn't go negative, but they can float very low and near zero.

Loan amounts/rates:

100k (500-600 credit): 20% on 24-hour loans, 30% on 72-hour loans, and 40% on one-week loans.

500k (600-700 credit): 17.5% on 24-hour loans, 25% on 72-hour loans, and 30% on one-week loans.

1M (700-750): 15% on 24-hour loans, 20% on 72-hour loans, and 25% on one-week loans.

2.5M (750-800): 12.5% on 24-hour loans, 15% on 72-hour loans, and 20% on one-week loans.

5M (800+): 10% on 24-hour loans, 12.5% on 72-hour loans, and 15% on one-week loans.

POINTS

24hr loan paid back = +20 points (100k) +30 points (500k) +40 points (1M) + 50 points (2.5M) +60 points (5m)

72hr loan paid back = +10 points (100k) + 20 points (500k) +30 points (1M) + 40 points (2.5m) + 50 points (5m)

1 Week loan paid back 5 points (100k) + 10 points (500k) + 15 points (1M) + 20 points (2.5M) + 35 points (5M) 

 

[doubleueyeceekay 613]

useless + rdmers will take out loans to finance their operations

essentially a free 100k

[Frog Legs 238]

Just do a box truck run and make a mil if you need money that bad

[Mudiwa 784]

56 minutes ago, doubleueyeceekay said:

useless + rdmers will take out loans to finance their operations

essentially a free 100k

Not free, bank takes the money back from you no matter what. 

[doubleueyeceekay 613]

Just now, Mudiwa said:

Not free, bank takes the money back from you no matter what. 

new player gets repeatedly fucked by gang, takes loan out, gets fucked, knows that even if he succeeds he has to pay off the loan
never rejoins the server

[Mudiwa 784]

2 minutes ago, Frog Legs said:

Just do a box truck run and make a mil if you need money that bad

I’m quite well off. This is aimed to new players and those who had some bad luck and are thinking of not playing anymore. Gives them an alternative to just leaving  

Just now, doubleueyeceekay said:

new player gets repeatedly fucked by gang, takes loan out, gets fucked, knows that even if he succeeds he has to pay off the loan
never rejoins the server

Well it’s a loan? Of course has to pay it off. He’s paying for a service facilitated by a bank for capital that didn’t exist. What’s 120k compared to the 360k+ he can make anyways. Offers people an option other than poverty and betting black at the casino

Also u have a warped perception on runs 100%. Not everyone is getting robbed always id say there is about a 25% chance of being robbed depending on what your actually doing 

[doubleueyeceekay 613]

4 minutes ago, Mudiwa said:

Well it’s a loan? Of course has to pay it off. He’s paying for a service facilitated by a bank for capital that didn’t exist. What’s 120k compared to the 360k+ he can make anyways. Offers people an option other than poverty and betting black at the casino

Also u have a warped perception on runs 100%. Not everyone is getting robbed always id say there is about a 25% chance of being robbed depending on what your actually doing 

yeah its a loan lmao and if you get fucked repeatedly and you end up also in debt youre not going to ever play again

at peak time i'd say a good 60-70% of runs that new players do get robbed

[Mudiwa 784]

Just now, doubleueyeceekay said:

yeah its a loan lmao and if you get fucked repeatedly and you end up also in debt youre not going to ever play again

at peak time i'd say a good 60-70% of runs that new players do get robbed

Ultimately here’s how your situation goes. Guy gets fucked anyways, and quits the server loan or no loan. But the server is giving him a option to be unfucked with some risk that he knows. I mean he is taking out a loan no one’s forcing him. Wouldn’t it be better to have that option then not? 

[doubleueyeceekay 613]

1 hour ago, Mudiwa said:

Ultimately here’s how your situation goes. Guy gets fucked anyways, and quits the server loan or no loan. But the server is giving him a option to be unfucked with some risk that he knows. I mean he is taking out a loan no one’s forcing him. Wouldn’t it be better to have that option then not? 

a person who knows he's up shit creek in debt wont ever rejoin

someone who quits cause they get fucked might be drawn back in, even if restarting from very little

[Mudiwa 784]

12 minutes ago, doubleueyeceekay said:

a person who knows he's up shit creek in debt wont ever rejoin

someone who quits cause they get fucked might be drawn back in, even if restarting from very little

when you declare bankruptcy, your debt is dropped, and the bank takes half your account value as margin for their investment in you. It only matters if you want to use the loan system again 

Here are some positive uses for everyone! not just rook timmys

The guy who wants to buy that run house but can't quite get the money together at the moment

Someone who wants to fight in a conquest or push cartels but is running low on funds momentarily

any many many more

[Imagine_ 137]

This is a solid idea, but it would greatly reduce people doing run. We need something that would increase runs on the server. Because I’m the state of the server rn, it’s easier to hold caps for an hour then spend an hour doing a run and get robbed, or seized by the Apd and get left with nothing or make the same amount for just holding caps and gaining war points. 

[Mudiwa 784]

34 minutes ago, Imagine_ said:

This is a solid idea, but it would greatly reduce people doing run. We need something that would increase runs on the server. Because I’m the state of the server rn, it’s easier to hold caps for an hour then spend an hour doing a run and get robbed, or seized by the Apd and get left with nothing or make the same amount for just holding caps and gaining war points. 

It wouldn't reduce runs at all, I feel, as ultimately, people need to pay off these debts and cartels are not very popular among the normal player base. But you have a solid point runs should be more incentivized and an increase in prices could help this 

[Conqueeftador 259]

5 hours ago, doubleueyeceekay said:

useless + rdmers will take out loans to finance their operations

essentially a free 100k

Right.. I was just thinking that as I read this.

4 hours ago, Mudiwa said:

Not free, bank takes the money back from you no matter what. 

Do you really think an RDMer cares if their bank gets wiped AFTER they get banned... 

[Mudiwa 784]

19 minutes ago, Connor S said:

Right.. I was just thinking that as I read this.

Do you really think an RDMer cares if their bank gets wiped AFTER they get banned... 

rdmers will actually rdm regardless believe it or not. U think they have the mental aptitude to go past kav gun store lmao

[ares 395]

2 hours ago, Imagine_ said:

This is a solid idea, but it would greatly reduce people doing run. We need something that would increase runs on the server. Because I’m the state of the server rn, it’s easier to hold caps for an hour then spend an hour doing a run and get robbed, or seized by the Apd and get left with nothing or make the same amount for just holding caps and gaining war points. 

I actually disagree. I have done countless runs within the past month and have been robbed/stopped by cops twice. caps are already often being held so you have to fight for them. This system is put in place solely so people can do runs. taking out a loan will eventually mean you have to pay it back, which means most people will do runs to pay it back.

[Lucien 3054]

I mean it works irl to be fair

[Walt Is A Mako Rebrand 177]

1 hour ago, Lucien said:

I mean it works irl to be fair

No it doesn't.

https://www.aspeninstitute.org/blog-posts/hidden-costs-of-consumer-debt/#:~:text=16 percent of suicides in,associated with mental well-being.

"16 percent of suicides in the US occur in response to a financial problem."

[Mudiwa 784]

5 hours ago, Lucien said:

I mean it works irl to be fair

it sure does

[XnavrasX 424]

5 hours ago, Skateezy said:

No it doesn't.

https://www.aspeninstitute.org/blog-posts/hidden-costs-of-consumer-debt/#:~:text=16 percent of suicides in,associated with mental well-being.

"16 percent of suicides in the US occur in response to a financial problem."

Add a "commit unalive" script to blow your brains out when you have 0 dollars in your account and are three trillion in debt.

[Phunky_ 0]

Half the kids on this server can't even pay back the $20 they owe to their own mother, let alone a fake bank loan. Worst Idea all week