installment credit

Definition of "installment credit"
  1. A credit granted with the understanding that it will be returned in multiple payments, generally scheduled at regular times, which is often used for large purchases like cars or appliances
How to use "installment credit" in a sentence
  1. He managed to buy a new car using installment credit, making monthly payments over two years.
  2. The family purchased a new refrigerator on installment credit, repaying the cost over six months.
  3. The couple financed their wedding using installment credit and made payments over the course of five years.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z