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FOX43 Finds Out: Avoiding a high interest rate

JONESTOWN, Pa -- A Lebanon County woman thought she found her perfect pup.

"His name is Juno. He is a Siberian Husky. He is 7 months old now," said Kiley Longnecker.

The 21-year-old from Jonestown, Lebanon county love with the pup when she spotted him at Pawz & Clawz in Cleona.

"I was just there to look, but he caught my eye so I decided to fill out the application."

The dog cost $1,400.

Longnecker couldn't afford that, so she applied for financing.

"She just told me that I was approved, that all of the paperwork would be emailed to me."

She says she signed something and left with the dog.

"I didn't look into anything because from what she told me it would be $1,400, $90 bi-weekly until it was paid off. I didn't see a need to go looking at all the paperwork she gave me or emailed to me," said Longnecker.

That was back in December.

When her dad asked recently when she would be done paying off the dog, she took a look at the paperwork from her Easypay Finance account.

"I went on and saw I'm being charged 152% interest,"

Which means her $1,400 is now going to cost her more than $4,700.

"It's hard. Right now, I'm struggling to pay him to begin with and now that I'm going to be paying for him 3 times longer than I expected to is hard."

Longnecker claims the store never told her what percentage she would be paying.

We reached out to Pawz & Claws  and a manger says she tells all her customers who finance the interest rates could be high and she recommends people pay off the purchase in a 90 day grace period.

Longneckers's dad says this is a reminder to read the fine print.

"They don't hide it. I mean it's right there, but young people are getting so used to just e-signing and boom you're done and they don't read anything."

This is why the PA Department of Banking and Securities is launching a whole series on understanding interest rates in Pennsylvania.

So consumers know their rates, what they should be charged and how to tell if something is a scam.

Something the Longnecker's learned the hard way.

"Other people don't get trapped into the same thing, especially young people."

Obviously that 152% interest rate seems pretty high, so we wanted to see if it is even legal to be charged that in Pennsylvania and it all depends.

Certain loans do have maximum interest rates.

However, the state Department of Banking and Securities says this sounds similar to another case , which ended up being an installment sale and not a loan.

The DOBS says an installment sale means you pay the store over time and there are no interest rate caps.

If you believe you've been wronged with a loan, you can file a consumer complaint. 

If you have a story you want Jackie De Tore to look into, FOX43 wants to find out! Send Jackie a message on Facebook or shoot her an email at