Best Answer

Installment loans are loans on which the interest is paid first and the borrower receives the proceeds.

User Avatar


Lvl 7
โˆ™ 2020-05-09 00:02:19
This answer is:
User Avatar
Study guides

What is aggregate demand

What is forfeiture

What are the steps necessary to reconcile a bank statement

How long will negative information concerning your use of credit be kept in your credit report

See all cards
No Reviews

Add your answer:

Earn +20 pts
Q: Statement about installment loans is not true?
Write your answer...
Still have questions?
magnify glass
Related questions

Which statements about installment loans is not true?

Installment loans are loans on which the interest is paid first and the borrower receives the proceeds A+

How do installment loans and credit cards differ?


Is this statement is TRUE or FALSE and WHY if savings is high then the affordability of loans should be lower?

online answer

Describes installment loans?

They usually require a down payment.

Are home equity loans generally installment loans with a 5-15 year term?

Yes, home equity loans are installment loans secured by one's primary resicence and have terms between 5 to 15 years, the most typical of which is 10 years.

What are the example of installment sale?

financial statement

Is As soon as all members in the earliest associations started making installment payments to pay back their loans the association started closing down?


What describes an installment loan?

Installment loans require monthly payments to pay the loan.

Is installment credit considered closed-end credit?

Yes, an installment loan is a perfect example of closed-end credit since the amount must be paid off in full by a specified date in the future. Good examples of installment loans traditionally include: auto loans, mortgages and unsecured personal loans.

What are some common forms of credit?

Five common forms of credit are credit card loans, auto loans, mortgage loans, installment loans, and home-equity loans.

Where can one find information about installment loans?

Installment loans are tough to get a hold of in today's economy. Everybody is fighting for a cent and nobody wants to back down and let others get that loan they need so badly. To find more information about installment loans. one should go to the bank and ask for more information.

What are the types of credits?

Charge accounts, credit card, consumer loans, mortgage loans, and installment sales credit.

People also asked

Which term is defined as property that is pledged as security on a loan?

View results

Which of these is the best description of delinquency?

View results

Would not result from defaulting on a loan?

View results

Which type of interest rate remains the same throughout the length of the loan?

View results

Calculate the simple interest on a loan with a principal of 6.000 an interest rate of 7.39 percent and a term of four years?

View results