EL PASO, Texas -- Typically people take out a loan to pay for a big expense like a home or a car, but with the holidays around the corner, some people are taking out loans to pay for Christmas gifts. "I think it is pretty ridiculous. You should not have to take out loans," said Jeff Preston, a holiday shopper.

Advertisements for loans are seen throughout the year but especially during the holidays, according to Rocio Ceastruita, a credit counselor.

"If you borrow a $1, 40 percent means that you have to pay 40 cents in addition to the dollar," she said.

That money can add up quickly, well after the holiday spending season.

KFOX asked Heraldo Vargas what he thought of the loans. He said, "That is crazy. Too much interest and they may get the presents now but in January, February they are going to suffer."

Counselors say some of the lowest interest rates come from the bank directly.

"Like with anything else you should be shopping around, because there are varied interest rates out there as low as 6 or 18 percent"

The loan companies are not doing anything wrong. Lending money is how they make money but counselors say it is up to the consumer to find the lowest rate and try to budget before shopping to avoid overspending.