Jonathan (17 years and 11 months of age) took out a loan for $25,000 from a private finance company to purchase a new car for $60,000 (he paid cash for the balance of the purchase).Jonathan signed the loan documents with a third party witnessing his signature.After 4-months he discovered that the loan had an interest rate of 65% and he was struggling with the monthly repayments and is now 2-months behind in the payments and the company is threatening to repossess the car.Advice Jonathan as to his rights.Use the IRAC method in your answer.