Definition
Installment credit is a loan repaid in regular payments over time.
Why It Matters
It allows consumers to make large purchases and spread out payments.
Example
A car loan with monthly payments.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
Installment credit is a loan repaid in regular payments over time.
It allows consumers to make large purchases and spread out payments.
A car loan with monthly payments.