installment credit

A *lease agreement in which a *lessee takes ownership of a leased *asset after a specified number of payments. Installment credit is a common means of financing the sale of *consumer goods.

Auditor's dictionary. 2014.

Look at other dictionaries:

  • Installment credit — is a type of credit that has a fixed number of payments, in contrast to revolving credit. Examples* Land loan * Home construction loan * Home mortgage * Some equity loans * Home improvement loan * Automobile loan * Boat loans or RV loans… …   Wikipedia

  • installment credit — ▪ finance also called  Installment Plan, or Hire purchase Plan,         in business, credit that is granted on condition of its repayment at regular intervals, or installments, over a specified period of time until paid in full. Installment… …   Universalium

  • installment credit — noun a loan repaid with interest in equal periodic payments • Syn: ↑installment loan • Hypernyms: ↑consumer credit, ↑loan …   Useful english dictionary

  • installment credit — (U.K.) Fin = installment loan …   The ultimate business dictionary

  • installment credit — Commercial arrangement in which buyer undertakes to pay in more than one payment and seller agrees to sell on such basis and in which a finance charge may be exacted. Such agreements are commonly subject to statutory disclosure regulation; e.g.… …   Black's law dictionary

  • installment plan — Synonyms and related words: acquitment, acquittal, acquittance, amortization, amortizement, bank credit, binder, book credit, borrowing, borrowing power, cash, cash credit, cash payment, clearance, commercial credit, consumer credit, credit,… …   Moby Thesaurus

  • Credit (finance) — Domestic credit to private sector in 2005 …   Wikipedia

  • installment sale — Commercial arrangement by which buyer makes initial down payment and signs a contract for payment of the balance in installments over a period of time. In accounting for such sales, the seller may either account for the profits on basis of each… …   Black's law dictionary

  • credit rating — Synonyms and related words: bank credit, book credit, borrowing power, cash credit, commercial credit, consumer credit, credit, credit insurance, credit union, financial condition, hire purchase plan, installment credit, installment plan,… …   Moby Thesaurus

  • credit union — Synonyms and related words: Bund, Rochdale cooperative, alliance, assemblage, association, axis, band, bank, bank credit, bloc, body, book credit, borrowing power, cash credit, coalition, college, combination, combine, commercial credit, common… …   Moby Thesaurus

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