Discuss the pros and cons of installment buying for the american consumer

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Social Studies

Jerry Salinas

1 April, 01:42

Discuss the pros and cons of installment buying for the american consumer

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Holden Salas · Answer 1

pros - they can purchase products by promising to pay small regular amounts of money over a period of time if they are unable to consumers ability to purchase something immediately and pay in full for it's cost.

cons - The consumers might default on their promise to make payment for a promised period of time. This would result in negative credit action or transferring collection of a debt to a collection agency. If this happens they will be penalized with a money fine and interest and be harrassed and could have more money owed than they are supposed to.