Installment+Buying

__Installment buying__ Installment Buying is a system for paying goods in a matter of time. Also, it is to buy something by making small monthly payments. It allows people to buy items but not have to pay them right away. For example, a person buys a new refrigerator and they don’t have the money at the moment, they can do installment buying. By doing this, this person is allowed to pay back the consumer with monthly payments to make up for the retail price of the refrigerator he or she bought. This process was first done in the 1920’s.

In the process of installment buying, there are many positive and negative aspects. One negative aspect is that the consumer will not recieve his or her money right away. One positive aspect is that the person buying the object has more time to actually pay it off. This is a vey intelligent method. Another positive aspect is that the buyer has advantage of paying back or not paying back the consumer. The other negative aspect of it is that if the buyer does choose to not pay back the consumer, they go directly to jail.Installment buying does help the economy grow.It streches the ways you are able to pay the consumer.Out of all the ways of paying back, this is most likely one of the ones that are used the most.

Installment buying was pretty big and important in the 1920, and there are many methods we use today that compare to installment buying.One method that are very common these days are credit cards.Credit cards are pratically the same as installment buying.