I'm looking at getting a personal loan for a variety of reasons, some good, some not great. I don't know about the rest of the world but in New Zealand they seem to want to treat me like an idiot because I'm only 27 and they take a lot of time trying to figure out where every cent of the loan is going.
But as an adult, who understands interest rates and repayments and that saving is better than borrowing (all the complicated stuff like that) if I am willing to take on a debt within the limits of what a bank is willing to lend someone in my position... why do they care where I spend it?
For example, let's say I earn enough to comfortably make payments on a $10k loan at a banks highest interest rate of 20% over 5 years (about $250-$300 a month). My credit check shows regular payments in all the normal areas, and my employment history is only getting better (I work in Software Development).
At the end of the day, does it make a difference to the bank if I'm paying for a holiday, an emergency dog removal or $10k worth of Jellybeans for my new jellybean hot tub?
What's the reasoning behind wanting to see price quotes for things I'm looking to pay for, when they'll be getting their payments regardless?