RES-ECON 162 Lecture Notes - Lecture 20: Oligopoly, Transunion, Experian
18 Apr 2016
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When is it wise to use installment loans when used to purchase long-lasting consumer goods. i. e. consumer durables (automobiles, televisions) intend on repaying amounts charged in full when credit statement arrives. 1 to make purchases for usual living expenses, e. g. meals, gasoline, when you do not. 2 to purchase goods and services which will not last very long e. g. clothing & 3 to purchase goods which should be finance with lower-cost installment loans entertainment, because the term for repayment may exceed the life of the purchases. Who is in debt? income range is reached, credit card debt follows this pattern. 2/3rds of the poorest families have no consumer debt (they are not approved for credit) Consumer debt is more prevalent the higher the family income, until the highest family. Consumer debt outstanding often higher for two-wage families than for single-wage families bills and, income, home ownership, how many years you have worked or credit cards.
