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installment plan |
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installment plan (esp Canadian), instalment plan US and Canadian a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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New moderately priced goods, fueled by installment buying and aggressive advertising, turned citizens into consumers. Not only did he invent the reaper, which provided the basic DNA for today's combines, he invented installment buying, which allowed American farmers to get the machines they needed for increased harvests. Calder argues that low rates of loan delinquency and default demonstrate that prudence, saving, and industry survived in the world of installment buying and household credit. |
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