Indeed it does, and indeed it is!
"Flex loans" are specifically designed to make the borrower's "hole" get deeper and deeper.
When I first landed on these shores, no loan contract
with an interest rate of more than 6% p.a. was enforceable at law. Then you-know-who leaned on the government
of this 'ere colony, and the law was changed so that poor Canadians are now as subject to predation as are the denizens of the land of the "flex loan"'s origin.
IMO, no man should buy a boat
by way of a loan, nor, indeed, buy a boat
for more cash-out-of-pocket than he can walk away from with a smile still on his face.