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Examples Of Installment Loans. Examples of installment loans include auto loans, mortgage loans, and personal loans. Examples of installment loans include mortgage loansMortgageA mortgage is a loan - provided by a mortgage lender or a bank - that enables an An auto loan is an installment loan that is borrowed in order to purchase a motor vehicle.

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In contrast, credit card payments can vary: you only pay if you used the card, and your required payment can vary greatly depending on how much you spent recently. Common examples of installment loans are automobile loans, mortgage loans or individual car loans. An installment loan allows you to pay off your loan over a longer period of time than a traditional payday loan.

The term is most strongly associated with traditional consumer loans, originated and serviced.

A student loan is also an example of an installment account.

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Learn about different types of installment loans and payment terms. Both payday loans and installment loans are generally marketed to low-income Americans but installment loans in particular are often marketed to the un-banked. Installment loans are borrowed funds that you repay in equal parts over a period of time.

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