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They mean the same thing. You spread the payments out of a period of time agreed on by you and seller. Interest is usually required. You take possession right away. If you buy on layaway you don't get the item until it is paid for and typically there is no interest charged, but not all dealers allow this. It is a good way to buy something you can't afford to pay for all at once.
It used to be known as 'Hire Purchase' , HP. You get the item immediately but pay as if you were renting it. After a period of time, when you have covered the cost of the item and interest, it becomes yours legally and you stop paying.
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∙ 12y ago
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What are the advantages of buying something on an installment plan?
advantages of installment buying
A new way of buying called allowed Americans to take products home and pay a little at a time?
Buying on the 'installment plan' is probably the oldest concept, pre- credit card.
A new way of buying called allowed Americans to take products home and pay a little at a time.?
Installment buying
Paying for an item over a period of time with series of small payments?
Installment buying
How did installment buying contribute to the consumers revolution?
Installment buying allowed people to own products before they had paied them off.
How can installment buying help cause depression?
Installment buying helps cause depression, because, it encourages one to do impulse buying, which can become a burden in repaying , causing depression.
How is buying on margin simullar to buying on an installment plan?
An individual buying securities on margin and buying merchandise on an installment plan have an important feature in common. The commonality is based on the fact that in each of these transactions, interest is charged and must be paid. Generally speaking, the interest is paid when buying on margin upon the sale of the securities. Buying on margin is usually a short term arrangement. With an installment plan, the interest is usually built into the monthly payments. These payments can be over an extended amount of time.
Installment buying is a good idea?
yes,
How is buying on margin similar to buying on an installment plan?
Margin is only offer on purchase of securities.
Buying stock on margin and buying on the installment plan are similar in that both?
They are both forms of borrowing.
How is buying on margin similar to buying on an installment plans?
Margin is only offer on purchase of securities.
How is buying on margin similar to buying an installment plan?
Margin is only offer on purchase of securities.
