Installment plan
From Wikipedia, the free encyclopedia
An installment plan (in British English installment), is a method of buying on credit, enabling people to buy goods and sometimes services with payments over an extended period, without having to pay much or any money at time of the purchase. Banks or other financial firms provide the money at varying interest rates from low to extraordinarily high. When first introduced, advertisers pushed for the installment plan idea with such slogans as "You furnish the girl, we'll furnish the home" and "Enjoy while you pay." Installment buying was common in the 1920s.
Some economists and business owners worried that installment buying might be getting out of hand and that it was really a sign of fundamental weaknesses behind a superficial economic prosperity.
